VA Loans

[WAG]

NBKC Bank can add another satisfied customer to their list thanks to the plethora of referrals on this message board.  I just closed on a 30 year VA loan at 3.5% with Mr. Tim Lander.  I could not have asked for a better loan officer.  Tim will take as much time as you need over the phone (any day of the week) to answer all your questions and he is just as responsive via text or e-mail which helped make the entire process painless.  I'm pretty sure lenders have been getting slammed with loan applications the last few weeks but Tim and NBKC Bank managed to get things in order well ahead of my 45 day closing date all while remaining flexible and accommodating to my needs as I accomplished this during a lengthy TDY.  Tim clearly loves his job and working with veterans.  His care for me as a customer was genuine which is why I wouldn't hesitate to request his assistance again if needed.  I feel that NBKC Bank has very competitive rates/credits but their customer service is the icing on the cake.  Please feel free to PM me with any specific questions.  This is my second VA loan but it required a higher down payment due to my remaining VA loan guarantee limit (someone explained this on the message board earlier). 

Edited February 20, 2016 by WAG

[sqwatch]

Thanks. I'm using them right now for my second va loan for a house in Tucson.

[Rudy the Rabbit]

Thank for the advice from those who went with NBKC. I've done lots of loans and used to have a rental home business. This was the best loan experience I've had, and we had some curveballs to throw our loan officer. 

3.25 rate on a VA 30 year. 

My loan rep was Jackie Runk. Great to work with her. Always answered the phone or responded to my many phone calls. 

[PlanePhlyer]

Another happy NBKC customer here. Saw all their info on this site and decided to call them. Amy has been more than helpful with everything!  VA 15-yr, streamlined loan. 3.2%, with $2100 lender credit. Dropping from a 4.9%,30-yr loan. Initial contact to closing is about 5 weeks. Slightly longer due to increase in payment from 30 to 15 yr and VA needs some extra paperwork to ensure we can afford. Highly recommend NBKC and Amy!  

[Bojangles]

Just closed with NBKC and was extremely satisfied with the service. VA 30 year fixed at 3.25% with $6k lender credit. Closed in less than 30 days. No other local lender could even come close to that. I had one lender laugh when I told them what I was quoted and even said that NBKC lied or that I misunderstood what they told me. Would definitely recommend to anyone looking to buy or refi.

[Gravedigger]

Just closed on our second house with Jim Schneider at NBKC. 3.25% VA loan, and Jim got us $2,000 for being Costco members. Also used USAA movers advantage to get another $2,000 for using the USAA-provided realtor. If you are seeking a home loan, keep these extra income sources in mind. It's easy money.

[sqwatch]

Another satisfied NBKC customer. 3.25% and 6k in lender credits. Compare that to other companies who want YOU to pay several thousand dollars to get the same rate. They also gave me money for being a costco member.

[sixpack]

Would not recommend NBKC.  Worst experience I've had dealing with a bank.  Closing was delayed over 7 day due to the bank not properly scheduling a VA inspection in a timely manner.  We had 40+ days to close from entering into contract for a new home build and was guaranteed the close date would be met.  $200 penalty from the builder for every day after close we were late.  Bank refused to provide additional lender credit to pay for their mistake.  I was fortunate enough to work a loophole on the builders side (complained house was not complete) that I got them to drop the fee.

Loan agent would avoid my calls/emails when trying to figure out what the status was with the inspection that we were waiting for.  Loan manager was no help in trying to close quickly either.  Assumed no responsibility for how badly this was handled.  On the second established closing day I still had to wait until an hour prior to closing to get all the docs to the lawyer even though the inspection was complete 5 days prior.   

Even after the original close date the bank was asking for extra forms/letters from me, which should have been requested weeks prior.    

 

Buyer beware.    

[Muscle2002]

Count me as a satisfied repeat customer with NBKC. I recently closed after working with Dave Nichols. As with my previous experience, Dave and the bank were on-point. I received a 3.25% and $6k in lender credit. No other bank could come close after shopping around.

[danielstevens]

On 6/14/2016 at 4:57 PM, sixpack said:

Would not recommend NBKC.  Worst experience I've had dealing with a bank.  Closing was delayed over 7 day due to the bank not properly scheduling a VA inspection in a timely manner.  We had 40+ days to close from entering into contract for a new home build and was guaranteed the close date would be met.  $200 penalty from the builder for every day after close we were late.  Bank refused to provide additional lender credit to pay for their mistake.  I was fortunate enough to work a loophole on the builders side (complained house was not complete) that I got them to drop the fee.

Loan agent would avoid my calls/emails when trying to figure out what the status was with the inspection that we were waiting for.  Loan manager was no help in trying to close quickly either.  Assumed no responsibility for how badly this was handled.  On the second established closing day I still had to wait until an hour prior to closing to get all the docs to the lawyer even though the inspection was complete 5 days prior.   

Even after the original close date the bank was asking for extra forms/letters from me, which should have been requested weeks prior.    

 

Buyer beware.    

Hello,  I'm sorry your experience didn't go as well as expected.  A purchase on an existing house we can order the appraisal right away, but on the new builds it is critical to not send a VA appraiser out to the house before the builder tells us it is 95% complete. This VA rule can definitely cause stress for someone wanting to close as soon as the house is complete.

We certainly don't like hearing that your loan officer was avoiding contact with you.  If you'd like to speak with someone about that, or anything else, just PM me and I'll get you in touch with a senior manager.

[Jon - Trident Home Loans]

1 hour ago, Muscle2002 said:

Count me as a satisfied repeat customer with NBKC. I recently closed after working with Dave Nichols. As with my previous experience, Dave and the bank were on-point. I received a 3.25% and $6k in lender credit. No other bank could come close after shopping around.

My wife works for Trident Home Loans in FL and they are doing VA 30yrs at 3.25 with the same size lender credits (around 1.5% of the loan amount) or a free refinance at 3.25.  Last I heard 15yr rates are at 2.875 and they can do a free refi at 3-3.125%.  Closing are quick (30-45 days) and anyone refinancing would skip a mortgage payment as well.  I've done 2 loans with them and a bunch of dudes from my sqdn also used them.  Can't beat a free refinance that saves you money and only costs some time/paperwork.  They are licensed in 20 states or so.  

 

Two airline pilots who are former navy own the company and I've seen they fight to beat any competitor.  Their business is booming and they make bank flying so they are willing to take less profit if it means getting the business and future referrals.  They built their company around doing loans for pilots and military.  I'd be shocked if you got a better deal elsewhere.  At a minimum you get a great quote that you can take back to NBOK or whoever in order to see if they will sweeten the deal.  Nothing wrong with a little healthy competition especially if it saves us money.  

 

PM me if you want some insider contact info...the owners are my friends and I'd be happy to call them if you find a better deal elsewhere

[RTB]

I'll throw in another data point for those considering NBKC.  I recently closed on my third mortgage with NBKC and this most recent experience sucked so I wanted to offer a word of caution.  First purchase through them and subsequent refi several years ago both went well but this latest purchase was rough.  

TL:DR version:  Best rate around, $6k+ in closing credit, very easy application process...all good until a week prior then all hell broke loose and we closed a week and half late after serious stress for all parties.  

MASSIVE thrash for 2.5 weeks I never want to repeat.  Lots of rude interactions with them, terrible treatment of my realtor by them, and lots of stress as the deal almost fell through.  Closing agent and realtors for both sides all recommended we just start over with a new bank because it was so difficult and the "fix" seemed to keep changing from NBKC.  We closed a week and a half late so all's well that ends well but it wasn't pleasant for anyone involved.  

I'll consider them again, but if your situation is at all unusual, keep after them to make sure you're good to go, but even that may not be enough.  They had all of our info/documentation for weeks and we had multiple assurances that "we have everything we need and we're all set for closing".  Then a week prior, that changed to essentially, "there's no way we can move forward with this".  It was far from the smooth transaction we'd expected.

[sixpack]

5 hours ago, danielstevens said:

Hello,  I'm sorry your experience didn't go as well as expected.  A purchase on an existing house we can order the appraisal right away, but on the new builds it is critical to not send a VA appraiser out to the house before the builder tells us it is 95% complete. This VA rule can definitely cause stress for someone wanting to close as soon as the house is complete.

We certainly don't like hearing that your loan officer was avoiding contact with you.  If you'd like to speak with someone about that, or anything else, just PM me and I'll get you in touch with a senior manager.

Unfortunately you're incorrect with regards to sending an appraiser out prior to 95%.  It can be done with a little more effort on the bank/builders part (a few more docs and a revisit verifying completion by the appraiser).  Furthermore the appraisal wasn't even ordered until the schedule completion date and VA appraiser times are 7 business days.  Your agent should have at least ordered the appraisal the week prior.

 

Thanks but i've already talked to one of your senior managers who did not do much to help.  Water under the bridge at this point.  

Edited June 16, 2016 by sixpack

[disgruntledemployee]

This business likely takes four level-headed sets of folks to keep drama low.  I will say my first mortgage with NBKC went well.  All my drama was on the builder end as they were delayed in completing the place.  The process was quite easy and the bank worked with us as we overcame the issues.  My purchase was some time ago, but I did get 3.25 VA with the fee rolled in and all other closing costs were covered by the builder.  Rate and such was just a reflection of the times. 

Out

[Jaded]

I need some assistance. I am a traditional reservist attempting to get a VA loan. My bank requires income validation, but I am having a difficult time providing documentation that adequately proves some level of minimum income. I'm an IP in the F-16, which means I fly 6 times a month and get paid around $3700 depending on the number and type of days I do. Because the reserve pay system is so ridiculous and impossible to explain, every time the loan manager looks any of this stuff up she comes up empty (for instance, the best she was able to find is that a reservist O-4 makes ~$800/mo - aka, drill weekend).

Does anybody have any ideas? I've sent her an LES as well as a powerpoint slide trying to explain reserve pay. She is not the problem, but her underwriter is not accepting either and is asking for some sort of documentation showing a minimum guaranteed wage for my "part time job."

[ImNotARobot]

I just went through this as a TR. Local mortgage company needed a letter called "Unconditional Employment Verification" where I created an MFR on letterhead from scratch that stated "This letter is meant to provide employment verification and history for ###. He has served as part of unit XX since XX as a XX instructor pilot. His average gross monthly income is $X000 as a TR. He is a member in good standing in our unit." 

I had the DO sign it, and sent that along with 1 month of LESs to the bank. I considered doing the math for an entire year of pay, but providing those LESs would be a bit crazy. In any case, the bank liked the MFR with the LESs. Good luck dude... I hated having to explain repeatedly that it's not really a part-time job. 

[Jon - Trident Home Loans]

On June 17, 2016 at 9:27 PM, Jaded said:

I need some assistance. I am a traditional reservist attempting to get a VA loan. My bank requires income validation, but I am having a difficult time providing documentation that adequately proves some level of minimum income. I'm an IP in the F-16, which means I fly 6 times a month and get paid around $3700 depending on the number and type of days I do. Because the reserve pay system is so ridiculous and impossible to explain, every time the loan manager looks any of this stuff up she comes up empty (for instance, the best she was able to find is that a reservist O-4 makes ~$800/mo - aka, drill weekend).

Does anybody have any ideas? I've sent her an LES as well as a powerpoint slide trying to explain reserve pay. She is not the problem, but her underwriter is not accepting either and is asking for some sort of documentation showing a minimum guaranteed wage for my "part time job."

I told my wife about your situation and she talked to the owner of her company.  He said it's not a problem and they do it all the time for airline/TR guys. All they would need is pay stubs, current LES, 2015 return and a verification of income from your CC or DO.  They'll then just average your monthly pay and you'll be good.  They can also go up to 65% debt to income on a VA to qualify you so really there shouldn't be a problem.  The owner said banks have a hard time wrapping their brains around how we get paid.  

[Jaded]

I am new, so I also have a hard time wrapping my brain around how we get paid.

Thanks!

[abmwaldo]

Closing today with Dave Devine and NBKC on the second home we've purchased using him as our lender. Top rate from start to finish and answered every question we had (no real estate agents were used as the house was FSBO and we'd been watching the location/market for years).

As soon as this ink dries we'll be refinancing an investment condo through him.

[Jaded]

Another one for NBKC. Myra McFarland did the impossible and got us a VA loan in the Fort Worth area. Super responsive, beat every other rate I got quoted, and was a pleasure to do business with. Highly recommended. 

[vprplt]

Another satisfied NBKC customer.  I have now closed on 5 home loans with Dave Devine.  He always ensures the loan process goes very smooth from start to finish and communicates very well.  You will be hard pressed to find a better lender that is more familiar with the VA loan or has a better interest rate.  I highly recommend you contact Dave Devine if you are in the market for a new VA home loan or an IRRL on an existing VA loan.  Dave.Devine@nbkc.com or 913.383.6417

[BADFNZ]

Any more info on these no-cost refis?  Almost sounds too good to be true so I'm skeptical.  We bought our house 2.5 years ago when the rates weren't as low (4.25%) but would love to get a lower rate now to lower the payment.  Only downside is there's a good chance we'll PCS in the next year, so paying closing costs makes any refi worthless to us. 

[Jon - Trident Home Loans]

17 minutes ago, BADFNZ said:

Any more info on these no-cost refis?  Almost sounds too good to be true so I'm skeptical.  We bought our house 2.5 years ago when the rates weren't as low (4.25%) but would love to get a lower rate now to lower the payment.  Only downside is there's a good chance we'll PCS in the next year, so paying closing costs makes any refi worthless to us. 

Trident Home Loans is doing no cost 30yr fixed VAs at 3.25% right now in the 20 states they are licensed in assuming a credit score above a 680 and it's your primary home.  My wife works for the owner and it's no kidding free.  It also won't increase your loan balance either...no hidden or rolled in costs.  Just saves you money in interest and lowers your payment.  

[hispeed7721]

Any more info on these no-cost refis?  Almost sounds too good to be true so I'm skeptical.  We bought our house 2.5 years ago when the rates weren't as low (4.25%) but would love to get a lower rate now to lower the payment.  Only downside is there's a good chance we'll PCS in the next year, so paying closing costs makes any refi worthless to us. 

We did the IRRL (no cost) refi and it was no kidding $0 for us, as well as reducing our rate. We got to skip 2 mortgage payments and it ended up cutting our mortgage payment by a couple hundred bucks.

We had owned the home for about 4.5 years and we just kept our payments the same but the difference from the old payment we applied to principle only so it will pay off significantly earlier. It's not a bad deal, and I was incredibly skeptical at first as well

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[BADFNZ]

7 minutes ago, hispeed7721 said:

 

 

We did the IRRL (no cost) refi and it was no kidding $0 for us, as well as reducing our rate. We got to skip 2 mortgage payments and it ended up cutting our mortgage payment by a couple hundred bucks.

 

We had owned the home for about 4.5 years and we just kept our payments the same but the difference from the old payment we applied to principle only so it will pay off significantly earlier. It's not a bad deal, and I was incredibly skeptical at first as well

 

Sent from my iPhone using Tapatalk

When you say $0, does that mean that the fees were just rolled into the new loan?  Or that it was a no-shit $0 closing cost/fees loan?