Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
Grand Traverse Region VA Housing Information
In Grand Traverse, Leelanau, Kalkaska, Benzie & Antrim Counties of Michigan, military veterans are utilizing their earned VA Home Loan entitlements. In the last 5-years, the use of VA guaranteed loans has steadily increased. According to the US Census Report of 2016, over 13,000 veterans living in the region; these numbers are expected to continue to climb in the foreseeable future.
The VA guaranteed loan is a no-money down payment entitlement earned by military veterans and active duty service personnel. With a no-money down system, veterans and active duty members are able to purchase homes that normally would be unavailable. Lenders write the loan with a guarantee from the VA regarding the security of the loan. In the last 5-years, veterans and active duty personnel using the VA loan in this area increased by 7%.
The Northern Great Lakes REALTORS Multiple Listing Service (MLS) shows an average sales price for a VA guaranteed loan in 2014 was $182,057. Today, the average sales price for a VA home loan is $217,184, an 8% increase. The main reasons for veterans using the VA loan, is not only the no-down payment option, but also the Private Mortgage Insurance (PMI) does not apply, competitive interest ... more
Are you on The Rain? Grow Your Network!