VA Mortgage Loans

At People Driven Credit Union, we are honored to support those who have served our country by offering VA Mortgage Loans. These loans, backed by the Department of Veterans Affairs, provide benefits designed to make homeownership more accessible and affordable for veterans, active-duty service members, and eligible surviving spouses. A VA Mortgage Loan is a government-backed loan that provides significant advantages to eligible veterans, active-duty service members, and surviving spouses. These loans are designed to help you purchase, refinance, or improve a home with favorable terms and competitive interest rates.

Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations.

Benefits of a VA Mortgage Loan

No Down Payment: One of the most significant advantages of a VA loan is the ability to purchase a home with no down payment, making homeownership more accessible.

No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans do not require PMI, which can save you hundreds of dollars each month.

Competitive Interest Rates: VA loans typically offer lower interest rates compared to conventional loans, helping you save money over the life of your loan.

Flexible Credit Requirements: VA loans are designed to accommodate a range of credit scores, making it easier for you to qualify.

Assumable Loan: VA loans can be transferred to a new buyer, which can be a significant selling point if you decide to move.

Closing Cost Limits: The VA loan program limits the amount you can be charged for closing costs, making the home-buying process more affordable.

Why Choose People Driven Credit Union for Your VA Loan?

At People Driven Credit Union, we are committed to honoring our veterans and active-duty service members by providing personalized service and tailored mortgage solutions. Our experienced mortgage specialists are here to guide you through the VA loan process and ensure you get the best possible terms.

Expert Guidance: Our mortgage specialists have extensive knowledge of VA loan requirements and will support you through every step of the application process.

Member Focused: As a member-owned credit union, we prioritize your best interests and strive to offer competitive rates and low fees.

Local Market Knowledge: We have a deep understanding of the local housing market and can offer valuable insights to help you make informed decisions.

Frequently Asked Questions

Who is People Driven Credit Union's Mortgage Specialist?

Meet Our PDCU Mortgage Specialist

Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.

Michelle Dzon

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

What is a VA Mortgage Loan?

A VA Mortgage Loan is a home loan backed by the Department of Veterans Affairs (VA). It offers favorable terms and benefits designed to help veterans, active-duty service members, and eligible surviving spouses purchase, refinance, or improve a home.

Who is eligible for a VA Mortgage Loan?

Eligibility for a VA loan includes veterans, active-duty service members, National Guard members, Reservists, and eligible surviving spouses. Specific service requirements apply, so it’s best to check with a VA-approved lender or the VA directly to determine your eligibility.

What are the benefits of a VA Mortgage Loan?

No Down Payment: Purchase a home without needing a down payment.
No Private Mortgage Insurance (PMI): Save on monthly costs as VA loans do not require PMI.
Competitive Interest Rates: Enjoy lower interest rates compared to conventional loans.
Flexible Credit Requirements: Qualify with a range of credit scores.
Assumable Loan: Transfer the loan to a new buyer if you sell your home.
Closing Cost Limits: Benefit from caps on closing costs charged by lenders.

How much can I borrow with a VA Mortgage Loan?

The amount you can borrow with a VA loan depends on your entitlement and the loan limits in your area. Generally, there is no maximum loan amount, but the VA will only guarantee up to a certain amount, which influences how much a lender will approve.

Do VA loans require a minimum credit score?

The VA does not set a minimum credit score requirement, but most lenders require a credit score of at least 620. Some lenders may approve loans with lower scores based on other factors.

What are the service requirements for a VA loan?

Service requirements vary depending on whether you are a veteran, active-duty service member, National Guard member, or Reservist. Generally, veterans must have served 90 consecutive days during wartime, 181 days during peacetime, or six years in the National Guard or Reserves.

Can I use a VA loan more than once?

Yes, you can use a VA loan multiple times, provided you have sufficient entitlement remaining or have restored your entitlement by paying off a previous VA loan.

Can I use a VA loan to buy a second home or investment property?

A loans are intended for primary residences only. You cannot use a VA loan to purchase a second home or investment property.

Why You Can’t Use a VA Loan to Buy a Second Home

The VA loan program is designed to help eligible veterans, active-duty service members, and certain surviving spouses secure affordable financing for homes they plan to live in as their primary residence. While you cannot use a VA loan for a vacation home or rental property, there are exceptions where you may rent out a previously purchased VA-financed home after fulfilling occupancy requirements. However, you cannot use a VA loan to directly purchase a property with the sole intention of using it as an investment.

Financing Options Other Than VA Loans for a Second Home

If you’re looking to purchase a second home or investment property, several mortgage alternatives are available. Conventional loans are a common option and typically require a higher credit score and larger down payment than primary residence loans, especially for investment properties. For those with significant home equity, a home equity loan or home equity line of credit (HELOC) can provide funds to purchase another property. Additionally, jumbo or Super Conforming loans may be suitable if you need to finance a high-value second home beyond conforming loan limits. Comparing these options with a mortgage professional at People Driven Credit Union can help you select the best financing solution based on your goals and financial situation.

What is the VA funding fee?

The VA funding fee is a one-time fee paid to the VA to help fund the loan program. It can be financed into the loan amount and varies based on factors such as the type of loan, the borrower’s military category, and the down payment amount. Some borrowers, such as those with service-connected disabilities, may be exempt from the funding fee.

How do I apply for a VA Mortgage Loan with People Driven Credit Union?

Apply online or contact our mortgage specialist, Michelle Dzon, who will guide you through the application process, help you understand your options, and determine your eligibility. Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.

Michelle Dzon

Member First Mortgage

michelle.dzon@memberfirstmortgage.com

616-301-1714 | NMLS ID: #401292

Disclosures

Equal Housing Lender. Member First Mortgage, LLC (MFM) NMLS ID# 149532. All loans are subject to credit approval. Terms and conditions apply. Program availability is subject to change without notice.

Available to all members using a conventional mortgage loan program on a purchase transaction with People Driven Credit Union in the State of Michigan. Not eligible on multi-unit properties, condos, townhomes, or manufactured houses. The Loan Example is current as of 9/9/2025 and based on a $200,000 loan amount with a conventional 30-year fixed rate term (360 monthly principal and interest payments of $1,231.43); 0% Down Payment; 6.25% Interest Rate with an Annual Percentage Rate (APR) of 6.465%. Rates quoted assume excellent borrower credit history. Payment example does not include taxes and insurance; the actual payment obligation will be higher. The cost of Private Mortgage Insurance (PMI) is waived as part of this promotion, to be paid by the Lender. This is not a commitment to lend. All lending products are subject to credit and property approval. Additional restrictions may apply. Member First Mortgage, LLC (MFM) is a partner of People Driven Credit Union. Michelle Dzon #401292, is authorized to act as agent of People Driven Credit Union (24333 Lahser Road, Southfield, MI 48033 | (248) 263.4100 | NMLS ID: 776727) and is authorized to represent Member First Mortgage, LLC, a licensed Mortgage Lender/Servicer (Corporate Office: 616 44th Street SE, Grand Rapids, MI 49548 | (616) 538.1818 | NMLS ID: 149532). For licensing information, please visit www.nmlsconsumeraccess.org. Equal Housing Opportunity.

SAFE Act Compliance Testing:
We conduct annual independent testing of our mortgage compliance in accordance with the SAFE Act (Reg G) requirements.

All other trademarks are the property of their respective owners.

People Driven Credit Union is an Equal Housing Opportunity Lender NMLS #776727

Membership Requirement:

All accounts and loans require membership at People Driven Credit Union. Membership is available to individuals who live, work, worship, or attend school in the State of Michigan, as well as relatives of current members. To complete an application for any account or loan, you will need the following information:

A valid Driver's License, State ID, or Passport with your current address
Your Social Security Number

A Membership Share Savings Account is required to establish membership at People Driven Credit Union. A $5 deposit secures your ownership share in the credit union and unlocks access to our full suite of products and services. This account earns 0.01% APY with a $5 minimum deposit.

VA Mortgage Loans

Significant advantages to eligible veterans, active-duty service members, and surviving spouses.