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.
VA Mortgage Loans, Membership and eligibility requirements apply, with approval subject to application, credit, and property considerations.
Meet Our Mortgage Loan Officer
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, LLC (MFM)michelle.dzon@memberfirstmortgage.com
616-301-1714 | NMLS ID: #401292 | People Driven Credit Union NMLS ID: #776727
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
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
- 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.
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.
Michelle Dzon
Member First Mortgage
michelle.dzon@memberfirstmortgage.com
616-301-1714 | NMLS ID: #401292
Private mortgage insurance, or PMI, is insurance that helps protect the lender if a borrower stops making payments on a conventional mortgage loan. PMI is typically required when your down payment is less than 20% of the home’s purchase price or original value.
When PMI is usually required
PMI is most commonly required on a conventional mortgage when you put less than 20% down. It increases the cost of the loan, but it may also help you qualify for a mortgage sooner if you do not have a larger down payment.
When PMI may be removed
In many cases, you can ask to remove PMI once your loan balance reaches 80% of the home’s original value and you meet the lender’s requirements. In general, PMI is automatically terminated when your loan balance is scheduled to reach 78% of the home’s original value, as long as your loan is current.
Need help?
If you have questions about PMI or your mortgage options, connect with a mortgage loan officer for personalized guidance.
An NMLS ID is a unique identification number assigned to mortgage loan originators and mortgage lending institutions through the Nationwide Multistate Licensing System & Registry. It helps identify the person or company handling your mortgage and supports transparency in the mortgage process.
Why it matters
An NMLS ID allows consumers to verify the identity and licensing information of a mortgage professional or lender. It can also help you confirm who you are working with when you review mortgage advertisements, emails, disclosures, and loan documents.
Where you may see it
You may see an NMLS ID on mortgage websites, marketing materials, email signatures, loan paperwork, and other mortgage-related communications. If you want to look up a mortgage professional or lender, you can search the NMLS Consumer Access website.
Need help?
If you have questions about an NMLS ID or want help identifying the mortgage professional working with you, call 844-700-7328 during business hours.
- Copy of your driver’s license or state-issued ID – Verifies your identity and legal name.
- Last 2 years of W-2 forms – Prove your employment history and income stability.
- Most recent 30 days of pay stubs – Shows your current income and allows us to calculate your debt-to-income ratio accurately.
- Last 2 years of Federal Tax Returns (including all schedules) – Confirms your reported income and helps lenders assess your overall financial picture.
- Most recent two months of bank statements (all pages) – Verifies your assets, down payment funds, and that you have enough reserves after closing.
- Contact information for your homeowner’s insurance agent – Required to set up the proper insurance coverage for the property at closing.
- Gather everything before you apply — it can save you weeks of delays.
- Make sure all pages of the bank statements are included.
- Include all W-2s and tax returns, even if you filed jointly.
- Scan or take clear photos of your documents for easy upload.
Learn More About Mortgages
People Driven Credit Union Earns National Recognition for Best Mortgage Loan Experience
People Driven Credit Union is proud to share that we have been recognized as a......Read More
USDA Loans: The Hidden Options for Rural Homebuyers
A mortgage loan is the largest expenditure in the vast majority of budgets, so it......Read More
How Long Does It Take to Close on a House in 2026?
When you are buying a new home, it is understandable to be excited. You likely......Read More
How a Bridge Loan Works
A bridge loan lets you use the equity in your current home to fund the......Read More
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 |
