• JJ Wilferth

    JJ Wilferth

    Loan Officer
    NMLS# 1182773

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    Kansas City va home loan

    About VA Home Loans

    Here at Fairway, we are proud to help our Service Members and Veterans achieve the American Dream of homeownership.

    Home loans backed by the Department of Veterans Affairs (VA) provide affordable home financing options for eligible Service Members, Veterans and surviving spouses.

    VA Loan Highlights

    Since VA loans often require no down payment* with lower closing costs, you can help keep your savings secure. VA loans also feature:

    • No prepayment penalties
    • No private mortgage insurance (PMI)
    • 100% financing with full VA entitlement*
    • Fixed- and adjustable-rate mortgages
    • VA financing fees can be “rolled” into the loan amount
    • Variety of eligible property types, including townhomes and VA-approved condos

    *A down payment is required if the borrower does not have full VA entitlement, or if the loan amount is greater than $424,100

    VA Loan Eligibility

    In order to be eligible for a VA loan, you must first obtain a valid Certificate of Eligibility (COE). Your COE is based on length of service or service commitment, duty status and character of service.

    VA Loan Programs

    Adjustable-Rate Mortgage

    If you are currently serving in the military with a chance of relocating in the next few years, the flexibility of an adjustable-rate mortgage (ARM) could be the right option for you. ARMs offer lower introductory interest rates that can change after the initial fixed-rate period. Depending on market fluctuations after this initial fixed-rate period, your monthly payments could change due to rates increasing or decreasing.

    Fixed-Rate Mortgage

    Fixed-rate mortgages protect you against rising rates since the interest rate remains the same for the entire term of the loan. You can select a 30- or 15-year loan term. The main difference is the 15-year option has higher monthly payments, which also means you are building home equity faster. Keep in mind you can use equity as a down payment for your next home or a future cash-out refinance. If you plan on staying in your home for a longer time frame, a fixed-rate mortgage could be the right solution for you.

    Cash-Out Refinance

    If you’re already a homeowner, a cash-out refinance may help you pay for major expenses like college tuition, debt or home improvements. This option allows you to take cash out of your home equity by replacing your current mortgage with a new loan that is more than the amount owed. You can also refinance a non-VA loan into a VA loan with a cash-out refinance.

    Interest Rate Reduction Refinance Loan

    An interest rate reduction refinance loan (IRRRL) may help lower your interest rate and reduce your monthly payments by refinancing your existing VA loan. You can also refinance an adjustable-rate mortgage (ARM) into a fixed-rate mortgage with this option. However, you cannot receive cash from loan proceeds with an IRRRL.

    *VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency.

    By entering your contact information, you are providing express written consent for Fairway Independent Mortgage Corporation to contact you at the email and number you provided via telephone, mobile device, automated means like autodialing, text SMS/MMS and pre-recorded messages, even if you are registered on a corporate, state, or federal Do Not Call list. You are also acknowledging and agreeing to our terms of service and privacy policy. Consent is not required to use our services.

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    Contact JJ Wilferth

    JJ Wilferth

    9393 W 110th St Suite 250
    Overland Park, Kansas 66210
    (816) 582-5978
    NMLS# 1182773

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