VA Home Loan Information

National Bank Of Kansas City's loan professionals are VA home loan specialists. If you’re one of the millions of veterans or service personnel eligible for a VA loan, let our loan professionals help you by quoting VA home loan rates.

There are many benefits of financing your VA mortgage loan through National Bank Of Kansas City:

• No lender fees*
• No origination fees*
• No underwriting fees*
• No processing fees*
• No points
• We finance in all 50 states
• Low, competitive rates

* Third party fees apply.

If you have questions about eligibility for a VA loan, continue reading below.

Who is eligible for a VA loan?

Generally the first step towards obtaining a VA loan is to obtain your Certificate of Eligibility.

Guidelines to qualify for a Certificate of Eligibility:

• Active-duty veterans discharged during WWII or later, without the status of "dishonorable"
• Active-duty veterans with at least 90 consecutive days of service during major conflict
• Peacetime veterans and active duty personnel with at least 180 days of consecutive service
• Enlisted veterans who entered the military after 1980, or officers who entered the military after 1981, and who have served at least 2 years.

Do you need your Certificate of Eligibility or DD-214 form?

Why should you consider a VA loan?

There are many reasons why a VA loan may be preferable to a conventional loan. Often times a VA loan is attainable even if you did not qualify for other types of loans. VA loans often have lower interest rates than conventional loans. There are no mortgage insurance premiums (PMI) on VA loans. Closing costs can be lower than other types of loans, and there is never any pre-payment penalty associated with a VA loan. If you have a service-related disability you can usually have the VA's funding fee waived. With a VA loan you can finance 100% of the purchase price.

How does a veteran obtain a VA backed loan?

1. Pre-qualification: The first step should always involve getting pre-qualified from a VA approved lender. At this stage you'll find out if you could get approved for the size of the loan you want.
2. Sales Contract: When you and your realtor set up a sales contract you'll want to indicate you are planning on obtaining a VA loan. Sometimes contracts will need an addendum.
3. Initial Loan Application: The veteran should choose a lender at this stage and provide a certificate of eligibility. At this point you should gather up the requested financial documents. Either VA or the lender will issue a "notice of value" for the loan based on the appraisal.
4. Loan Approval: If the application is complete and the appraisal is satisfactory, the final decision by the lender can be made at this time.
5. Loan Closing: The veteran would arrange to sign all mortgage related documents at a title company or attorney's office. The veteran's certificate of eligibility will be updated to show an active loan. If you sell the house you can have this updated again to reinstate eligibility.