VA Loan Product
VA guaranteed loans are made by lenders and guaranteed by the U.S. Department of Veteran Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan. In most cases, no down payment is required on a VA guaranteed loan and the borrower usually receives a lower interest rate than is ordinarily available with other loans.
Other benefits of a VA loan include:
- Negotiable interest rate.
- Closing costs comparable – and sometimes lower - than other financing types.
- No private mortgage insurance requirement.
- Right to prepay loan without penalties
- Mortgage can be taken over (or “assumed”) by the buyer when a home is sold.
- Counseling and assistance available to veteran borrowers having financial difficulty or facing default on their loan.
Although mortgage insurance is not required, the VA charges a funding fee to issue a guarantee to a lender against borrower default on a mortgage. The fee may be paid in cash by the buyer or seller, or it may be financed in the loan amount.
A VA loan can be used to buy a home, build a home and even improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, weather-stripping/ caulking, storm windows/doors or other energy efficient improvements approved by the lender and VA.
Veterans can apply for a VA loan with any mortgage lender that participates in the VA home loan program. You can apply with Flat Branch Home Loans here.
Flat Branch Home Loans is a leader in VA lending and has an experienced staff to serve your VA needs. To go one step further we employ two full-time VA specialists. They share time between our home office in Columbia, MO and their offices at Fort Leonard Wood and Whiteman AFB. Scott & Joe's contact information is below.
Scott Batt - www.yourvahomeloan.com
878 Missouri Ave, Ste 2
St. Robert, MO 65584
P: (573) 268-4698
F: (312) 604-3772
Joe Stoops
Whiteman AFB
123 East Gay, Ste A8
Warrensburg, MO 64093
P: (573) 356-4320
F: (312) 604-3772
| Conventional 30 Year Fixed |
4.625% | |
| 4.720% APR | ||
| 4.375% | ||
| 1 Point Paid | 4.550% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| Conventional 20 Year Fixed |
4.500% | |
| 4.629% APR | ||
| 4.250% | ||
| 1 Point Paid | 4.489% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| Conventional 15 Year Fixed |
4.125% | |
| 4.430% APR | ||
| 3.875% | ||
| 1 Point Paid | 4.180% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| FHA 30 Year Fixed |
4.500% | |
| 4.733% APR | ||
| 4.250% | ||
| 1 Point Paid | 4.558% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| VA 30 Year Fixed |
4.500% | |
| 4.765% APR | ||
| 4.250% | ||
| 1 Point Paid | 4.591% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
| USDA 30 Year Fixed |
4.750% | |
| 5.012% APR | ||
| 4.500% | ||
| 1 Point Paid | 4.839% APR | |
| Rates can change numerous times per day and every loan scenario is different. Please call for a detailed quote. The rates posted below are for a given scenario and your quote may vary. If you have a more competitive quote, give us a call and we will do our best to beat it! | ||
