VA Streamline Refinance

Information on National Bank Of Kansas City and VA Streamline Refinance

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

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?

All military personnel who have received their 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?

VA loans do not have many of the fees conventional loans often carry, plus there are many additional reasons why a VA loan may be beneficial:

• VA loans are often attainable even if you do not qualify for other types of loans.
• VA loans generally 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 acquire a VA loan?

1. Pre-qualification: The first step should always include your pre-qualification from a VA approved lender. At this stage you'll find out if you're able to get approved for the size of the loan you want.
2. Sales Contract (for new home purchase): When you and your realtor set up a sales contract you'll want to indicate you are purchasing the home with 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 and provide all the financial documents requested by the lender. Either the 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 lender will arrange a time for the borrower 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.