VA Home Loan | Joplin MO

Designed to offer long-term financing to American veterans, VA mortgage loans are issued by federally qualified lenders and are guaranteed by the U.S. Veterans Administration. The VA determines eligibility and issues a certificate to qualifying applicants to submit to their mortgage lender of choice. It is generally easier to qualify for a VA loan than conventional loans.

Here’s how it works:

  • 100% financing without private mortgage insurance or a 20% second mortgage.
  • A VA funding fee of 0 to 3.3% (this fee may be financed) of the loan amount is paid to the VA.
  • When purchasing a home, veterans may borrow up to 100% of the sales price or the reasonable value of the home, whichever is less.
  • When refinancing a home, veterans may borrow up to 100% of the reasonable value in order to refinance where state law allows in order to obtain cash out.
  • When refinancing an existing VA home loan, borrowers should utilize VA’s attractive Interest Rate Reduction Refinance Loan (IRRRL). These loans are generally offered with ‘no closing costs’, or the lender pays the costs for the Veteran.

We hope to work with you soon. Please call The Mortgage House at (417) 782-7800, or email us here.

Quick Quote