VA Loans

[Fud]

I'm about to close on my first home purchase this upcoming Friday.  I have been working with Jackie Runk from NKOBC.  Her direct number is (913) 383-6455.  We utilized a 15 year, fixed, VA loan with an interest rate of 2.75%.  Jackie has been great to work with and is incredibly responsive to any questions I had in navigating the process.  PM me with any questions.  

[danielstevens]

Hi everybody.  I wanted to let you know National Bank Of Kansas City formally changed their name to "NBKC Bank"  today.  Same people are here as before,  just a slightly new name! 

Some of our old links from years past may not work quite the same, or will be redirected, but I wanted to let you know we are still here to answer your questions like we have for years!

If you want to reach out to me directly,  my email is now:  dan.stevens@nbkc.com.  People do this pretty frequently, and I am able to answer some basic questions, and get you in touch with one of our loan officers that have helped other baseops users based on your personal situation!

Our new mortgage website domain is:  www.nbkcmortgage.com

I hope everyone has a happy holiday season!

Dan Stevens

[panchbarnes]

Dan,

Where do you see the 30 years mortgage rate 6 months from now?

Do you guys deal with investment properties (non-VA of course)?

Thank you.

[danielstevens]

59 minutes ago, panchbarnes said:

Dan,

Where do you see the 30 years mortgage rate 6 months from now?

Do you guys deal with investment properties (non-VA of course)?

Thank you.

The experts general consensus is that rates will move up gradually throughout 2016.  However, these same experts have been predicting pretty much that exact thing every year for quite a while.   I do think it's fair to assume rates won't drop significantly,  but there are so many factors, that even that may not be true.

As for your question on investment properties,  the answer is yes.  NBKC definitely originates investment properties, but only if it's not a commercial building with a lot of units.

Dan

[sledy]

Here's my NBoK story,

I contacted them in February of this year, 2015, and started working with Amy P.  Unique to my situation was that I was coming off MLOA to head back to my airline job and was going to purchase my home right after getting back from my deployment.  The issue was I would be on AGR orders for less than a year, and would not have 2 pay stubs from the airline to show proof of income so Amy did an OUTSTANDING job of just taking a copy of my airline contract with my seniority list to show what seat a could hold, and computing my projected income.  Way above and beyond but absolutely outstanding!

 

Fast forward a few months and I end of up getting extended on MLOA, home area where I'm going to purchase changes, but she makes it all happen, locks me in at the lowest rates of the year, answers questions on weekends/vacation, and does an incredible job.  I honestly can not think of a negative thing to say about the entire process and will/would recommend them to anyone who is ever looking to purchase a home.

Great work, thanks for all the help, and I'll be using them for my next home without question.

 

Sledy

[danielstevens]

On 12/19/2015 at 3:52 PM, sledy said:

Here's my NBoK story,

I contacted them in February of this year, 2015, and started working with Amy P.  Unique to my situation was that I was coming off MLOA to head back to my airline job and was going to purchase my home right after getting back from my deployment.  The issue was I would be on AGR orders for less than a year, and would not have 2 pay stubs from the airline to show proof of income so Amy did an OUTSTANDING job of just taking a copy of my airline contract with my seniority list to show what seat a could hold, and computing my projected income.  Way above and beyond but absolutely outstanding!

 

Fast forward a few months and I end of up getting extended on MLOA, home area where I'm going to purchase changes, but she makes it all happen, locks me in at the lowest rates of the year, answers questions on weekends/vacation, and does an incredible job.  I honestly can not think of a negative thing to say about the entire process and will/would recommend them to anyone who is ever looking to purchase a home.

Great work, thanks for all the help, and I'll be using them for my next home without question.

 

Sledy

Thanks for the recommendation, Sledy!

It definitely takes an experienced Loan Officer and underwriting team to handle home buyers with transitional employment situations such as you described.  Particularly those who work for the Air National Guard or fly commercially it can take some extra TLC, but we have handled enough of these situations to be able to navigate those waters!

I'm happy you had a great experience!

Dan Stevens, NBKC Bank 

[afthunderchief16]

Has anyone messed around with assumable mortgages or land contracts in the past? 

Just got unexpected PCS orders 16 months after buying the house and 6 months after refinancing to a way lower rate and have little desire to take a kick in the nuts from closing costs right now in addition to being deployed until ~30 days prior to my PCS. 

 

[danielstevens]

Hey everybody,  I try to keep my sales pitches to a minimum on here.  But I did want to inform everyone that the 10 year treasury is very low right now,  which bodes well for mortgage rates.  If you were on the fence considering a refinance, now would be good time you call a mortgage lender to see what may be available to you.    

So far the "expert" opinions that mortgage rates would be on the rise this year hasn't happened yet, and has actually dropped to the same low range where we were a full year ago. 

 

Dan

[Duck]

Awesome Dan! I worked with Dave Devine almost 3 years ago and hopefully will be back to buy another house in a year, once Big Blue realizes what a non-team playing dirtbag I am and let's me go!

I know it is said time and time again in here, and with good reason, these guys do a phenomenal job.

[Lawman]

Hey everybody,  I try to keep my sales pitches to a minimum on here.  But I did want to inform everyone that the 10 year treasury is very low right now,  which bodes well for mortgage rates.  If you were on the fence considering a refinance, now would be good time you call a mortgage lender to see what may be available to you.    

So far the "expert" opinions that mortgage rates would be on the rise this year hasn't happened yet, and has actually dropped to the same low range where we were a full year ago. 

 

Dan

So I'm curious about this. What's a juice worth the squeeze estimate on moving that APR rate. Like if it's multiple thousands of dollars to refinance what kind of percentage change for say a 200 or 300k principle is needed to make it worth while.

I'm asking because I only got into the 300k house 7 months ago on a zero down VA loan and I keep getting adds from other financial institutions offering lower rates.

Sent from my iPhone using Tapatalk

[ThreeHoler]

Hey everybody,  I try to keep my sales pitches to a minimum on here.  But I did want to inform everyone that the 10 year treasury is very low right now,  which bodes well for mortgage rates.  If you were on the fence considering a refinance, now would be good time you call a mortgage lender to see what may be available to you.     So far the "expert" opinions that mortgage rates would be on the rise this year hasn't happened yet, and has actually dropped to the same low range where we were a full year ago. 

 

Dan

So I'm curious about this. What's a juice worth the squeeze estimate on moving that APR rate. Like if it's multiple thousands of dollars to refinance what kind of percentage change for say a 200 or 300k principle is needed to make it worth while.

I'm asking because I only got into the 300k house 7 months ago on a zero down VA loan and I keep getting adds from other financial institutions offering lower rates.

Sent from my iPhone using Tapatalk

Three years ago, I did a VA IRRRL with these guys and the lender credit covered the refinance fees and put some money in my escrow account. I had been there one year and the new loan was around $270K on an original zero down loan of $296K. Dropped from 4.25% to 3.25% and saved a ton of money. YMMV.

[Techsan]

8 hours ago, Lawman said:

So I'm curious about this. What's a juice worth the squeeze estimate on moving that APR rate. Like if it's multiple thousands of dollars to refinance what kind of percentage change for say a 200 or 300k principle is needed to make it worth while.

I'm asking because I only got into the 300k house 7 months ago on a zero down VA loan and I keep getting adds from other financial institutions offering lower rates.

Sent from my iPhone using Tapatalk

I'm kind of curious to know as well.  I purchased just 5 months ago...$500K @ 3.75% for a 30-yr fixed VA.  Are rates really that much lower to be worth an IRRRL?

[danielstevens]

8 minutes ago, Techsan said:

I'm kind of curious to know as well.  I purchased just 5 months ago...$500K @ 3.75% for a 30-yr fixed VA.  Are rates really that much lower to be worth an IRRRL?

Techsan - I'd definitely say it's worth checking out.  It's possible you may be able to get something in the neighborhood of what ThreeHoler mentioned.  It's all about what monthly savings you will get for how many fees that are incurred.  

[Sting89]

Here's my situation: VA financed at 5.375% / 30-year fixed single family home. Purchased 11 years ago and is currently a rental property. I plan on keeping the home another 9 years or so to get more principal out. I've read some great reviews in this thread, so I was wondering if it makes financial sense to refinance with today's rates plus the fees associated with a re-fi. Thanks

[danielstevens]

1 minute ago, Sting89 said:

Here's my situation: VA financed at 5.375% / 30-year fixed single family home. Purchased 11 years ago and is currently a rental property. I plan on keeping the home another 9 years or so to get more principal out. I've read some great reviews in this thread, so I was wondering if it makes financial sense to refinance with today's rates plus the fees associated with a re-fi. Thanks

Probably the biggest variable to answer your question is the current loan size,  if the loan size is so small after the 11 years of payments, any sort of fees may make it not very economical to potentially refinance.  But  with your current interest rate and where the market is right now, it's still worth digging a little deeper to see how the numbers pan out,  it could still be a good opportunity.

[danielstevens]

12 minutes ago, Sting89 said:

Purchased at $153k, approximately $30k paid down.

I think you've got a good chance that you've got something that is workable here.  feel free to send me an email at dan.stevens@nbkc.com if you'd like to check further with us.  

[bluedevil]

Dan,

Do you guys offer construction/lot loans? 

If so:  Is it a stringent process that requires approved builders?  What do you require for a down payment, 20-25%?  Appreciate any info.

 

[danielstevens]

4 minutes ago, bluedevil said:

Dan,

Do you guys offer construction/lot loans? 

If so:  Is it a stringent process that requires approved builders?  What do you require for a down payment, 20-25%?  Appreciate any info.

 

We only handle the end financing (the loan that can fund when the house is all complete) here at NBKC.  As far as your question about approved builders, for VA loans it isn't terribly hard to get a builder on the VA approved list if they aren't already.  But it sounds like you need an earlier stage loan, those are usually best done by a bank in the local area of where you are buying.  Then you can look at any lender for the end financing when the house is complete.

[di1630]

Dan, what are current rates for a 15 year fixed refinance?

[danielstevens]

7 minutes ago, di1630 said:

Dan, what are current rates for a 15 year fixed refinance?

That's a question I would need a few questions answered to be able to give a proper answer.  I'll send you a PM.

[Jon - Trident Home Loans]

On August 9, 2015 at 1:07 PM, flyaf05 said:

We didn't use NBOKC for our VA loan, but got two great deals from Trident Home Loans in Gulf Breeze, FL. We're at Hurlburt and they were able to get us a 3.75% 30yr last year with a $7.2K lender credit which paid our VA funding fee so we didn't end up having to tack that onto our loan. We just finished a refi of the same property with them and got it down to a 3.25% 15yr with a $5K lender credit. There were no fees charged to us or added to our loan balance so they basically did a free refi. I got to meet the owner of the company (flies for Delta and was a Navy prowler pilot) during the process and he basically takes less of a profit to hook up military and pilots. Not saying they don't do business with other people, but he focuses on what he knows and cares about. A few other people from my squadron have gone with them too and got the same type of deal I did. Actually, it was an AF buddy who referred me to them because he got such a deal.

 

If you're paying money to refi or aren't getting a massive lender credit when you buy then you're doing it wrong. My broker was Stacy Haynes or you can PM me if you want to talk to the owner directly (I don't want to put his cell # on the web). He's a great dude to talk both mortgages and airlines stuff with.

I just talked to my buddy that is an airline pilot/mortgage company owner.  With all the market turmoil, he's doing free VA refi's at 3.375% right now.  Basically if you have a 30yr VA and have over a 3.375 he'll lower your rate and you won't pay a dime or increase the amount you owe.  It's a streamline too so lots less paperwork and no appraisal.  Figured other dudes might be interested in free money.  I'm lowering my 15yr from a 3.25 to a 3.00 for free.  PM me if you want his cell.

[Day Man]

Does it have to be a VA loan?

[Jon - Trident Home Loans]

No, he does VA, FHA, USDA and Conventional.  I only know the VA rate he is doing for free right now but he can do all types for free.  The rate might be slightly different but he's a great guy and will definitely look out for your best interest.  He makes plenty of money flying for the airlines that he's not trying to squeeze every penny possible out of his mortgage business which helps people like us.

[Marty - Trident Home Loans]

On ‎2‎/‎4‎/‎2016 at 3:03 PM, bluedevil said:

Dan,

Do you guys offer construction/lot loans? 

If so:  Is it a stringent process that requires approved builders?  What do you require for a down payment, 20-25%?  Appreciate any info.

 

There is such a thing as a VA construction Perm. There are 3 lenders here in the panhandle that do them. Not sure of your location.

[Marty - Trident Home Loans]

On ‎2‎/‎15‎/‎2016 at 10:36 AM, flyaf05 said:

I just talked to my buddy that is an airline pilot/mortgage company owner.  With all the market turmoil, he's doing free VA refi's at 3.375% right now.  Basically if you have a 30yr VA and have over a 3.375 he'll lower your rate and you won't pay a dime or increase the amount you owe.  It's a streamline too so lots less paperwork and no appraisal.  Figured other dudes might be interested in free money.  I'm lowering my 15yr from a 3.25 to a 3.00 for free.  PM me if you want his cell.

non-Florida Loans or loans with Disability are at 3.25% with all costs paid. 680 score. VA investment can also be done with the VAIRRRL loan with a slightly higher rate.