PilotWife2

Thanks for the shout out. We lend in all 50 states. NV is a big state for me - a lot of my SWA pilots live there and have a lot of borrowers w/orders to Nellis. Let me know if I can be of help!

Are you looking to put money down? There is the cost of the VA funding fee which is 2.3% x your loan value if a 1st time user and putting less than 5% down. However, conventional has higher rate pricing and Private Mortgage Insurance (PMI) considerations if yo put less than 20% down that you will not have with VA. Sounds like 5/3 is charging a 1 point origination fee (1% x your loan value paid at closing), but other VA lenders like nbkc bank do not charge any lender fees (i.e. no points unless you choose to pay points to lower the rate, no lender junk fees like processing/underwriting/doc prep/admin), etc... Not sure that 5/3 is a big VA player, and you may not be getting the best advice. Feel free to reach out to me for a 2nd opinion! Amy Paterson nbkc bank 913-253-0190 (19 years with nbkc bank as a high volume VA loan officer nationwide).

nbkc can go to 1.5 million for VA

That is correct! Crazy, huh?

Thank you very much for your business! I have 19 years experience as a mortgage loan officer all with nbkc bank. If it can be done, I'll find a way to make it happen! Truly a pleasure working with you!

I have been able to waive the escrow requirement for a VA loan but typically it requires a pretty substantial down payment that we normally don't see with VA loans...

Please PM me your contact info and I will confirm we received your application. Thank you!

Sorry to hear you didn't receive the customer service expected at NBKC Bank. I am known for my follow up and would love to help. I'm on vacation this week, but can connect you with another loan officer I helped mentor who has A+ customer service skills as well. PM me if you would like her info. Amy

I am and often work in both states. nbkc bank is a nationwide lender, and offers mortgage financing in all 50 states. Let me know if I can be of help! Amy 913-253-0190 apaterson@nbkc.com

Thanks so much for your business! Consider me on standby for your next assignment and home purchase. I lend in all 50 states and look forward to working with you again in the future. 🙂 Enjoy your new home and thanks again for your business!

We handle all 50 states and I do a lot of business in OH! Per the VA, "if you paid a funding fee at closing ..... and your VA compensation award provides an effective rating date that is prior to your loan closing date, then you may be eligible for a funding fee refund." Not sure the timing would work for you? Depends on when you close and how far into the process you are... Let me know if I can be of any more help! Amy

Assuming you sell your current home financed by VA prior to buying the new home, automatically your entitlement can be fully reinstated. I have asked for clarification what happens if using what is called 2nd tier entitlement; meaning obtaining a 2nd VA loan before selling a home currently financed with VA. Standby for updates as they are rolled out! Lots of questions still at this point!

That is correct. For VA loans closing after Jan 1, 2020, you no longer have to put down 25% of the difference between the purchase price and $484,350 county limit (some high cost areas currently have higher county limits). For a $650K purchase price, you could purchase with NO money down!

Released on August 9th was the first official roll out from VA regarding the removal of loan limits for loans closing after Jan 1, 2020. For those interested: https://www.benefits.va.gov/homeloans/documents/circulars/26_19_23.pdf Note the section regarding the cost of the VA funding fee which is going up. Also the cost will be the same for Regular Military, Reserves, and National Guard. Previously Regular Military paid a lower Funding Fee. Purchases with NO money down have a 2.3% Funding Fee for 1st time users and 3.6% for subsequent users. Purchases with 5% but less than 10% down pay a 1.65% Funding Fee, and with 10% or more down pay 1.4% for a 1st time OR subsequent user. Interest Rate Reduction Refinance Loans (IRRRL) are remaining at .50%.

Quick correction to Jon's post. VA is required to use the single family limit even for multi-unit properties. This means the 100% financing cap with VA is $484,350 in Cook County. You can borrow more than $484,350, but are required to put down 25% of the difference between the purchase price and $484,350 limit. These are the current rules, but as Jon noted, it is expected to change in 2020. Let me know if there is anything else I can do to help! Amy nbkc bank

Definitely doable depending on the overall credit profile of the loan and projected new purchase price. PM me to start the pre-approval process. Look forward to helping out! Amy nbck bank

Where are you looking to buy? I lend in all 50 states. My husband is retired A/F and flies for Delta. Can't count the # of pilots I have helped in your exact situation. My team understands how pilots! I can give you an idea where you stand without running credit. Formal underwriting pre-approval will require a hard credit pull. Let me know if I can be of help! Amy NBKC Bank

We are still waiting for VA's official roll out...We are in hurry up and wait mode with the VA..

NBKC Bank is located in Kansas City, and do a lot of business on the Kansas side. Let me know if I can be of help!

Thanks so much! Always a pleasure working with you!

We are waiting for official word from VA, but looks like the VA funding fee percentages will stay the same, but there will be NO limit for 100% financing. Stay tuned....

Potential BIG news on the VA front: https://www.nar.realtor/washington-report/congress-passes-va-loan-bill In short, it's expected the President will sign an act that will eliminate the cap on the VA home loan guarantee meaning you could qualify for a VA home loan with zero down at any price point. Leads to a lot of speculation regarding how 2nd tier entitlements will work (using a VA loan for a subsequent home loan purchase while keeping the original loan financed with VA), and how much the VA funding fee may change as well... Standby for updates!

You can sell the "old" home financed with VA and close on a "new" home also financed with VA the same day using your full benefits. You just sign off on the old home 1st and then close on the new home 2nd. There is no waiting period to reinstate your VA benefits. You also can have more than one VA loan out at a time assuming you did not use all of your VA eligibility on the VA loan you have now. You may or may not have to put money down on the 2nd concurrent VA loan--just depends on how much eligibility you have remaining--what the purchase price is for the new home--and the VA county limit where you are buying. Let me know if you have any other questions! Amy

I'm sorry to hear this! Would you mind PMng me directly to I can get the particulars from you? Yours is not a typical experience with NBKC, and I would like to find out what happened. I appreciate your time and hope to hear from you soon! Amy

Thanks so much for the feedback! We appreciate your business!