102% Financing (Currently Unavailable*)
102% financing is available to qualified buyers and guaranteed by the USDA Rural Development program. With this long term fixed rate loan, home buyers can finance existing homes and repairs and can also use this program for construction loans.
*With current high demand for this loan product, the USDA is anticipated to run out of government funding for the program by the end of April, 2010. Due to this shortage, KVSB is no longer accepting new applications for Rural Development financing until further notice.
Additional Benefits:
- No down payment
- No monthly mortgage insurance
- Competitive interest rates
- No maximum purchase price
- Expanded qualifying ratios
- Flexible credit guidelines
FHA
FHA loans are a great way for Kaw Valley customers to help finance their homeownership dream. Available to all buyers, FHA loan programs are designed to help individuals and families who do not meet the requirements for conventional loans. Qualifying purchasers are eligible for lower down payments, financing for some closing costs, lower monthly mortgage insurance premiums, and more flexible underwriting criteria.
VA LOANS
VA guaranteed loans are made by lenders and guaranteed by the US Department of Veteran Affairs to eligible veterans* for the purchase of a home. Generally, no down payment is required and the borrower usually receives a lower interest rate.
Other benefits include lower closing costs, no required private mortgage insurance, and the right to prepay your loan without penalties.
A VA loan can be used to buy a home, build a home, and improve a home with energy-saving features such as solar or heating/cooling systems, water heaters, insulation, storm windows/doors or other energy efficient improvements approved by the lender and the VA.
*A Certificate of Eligibility or DD214 from the VA must be presented to qualify.
Conventional Lending
With your down payment and our competitive rates, a Kaw Valley State Bank conventional loan is just the answer for buyers.
Construction
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When it comes to building your dream home, you have enough decisions to worry about. Your financing shouldn’t be one of them. The Kaw Valley State Bank home loan department is your one stop shop for your construction loan and your mortgage.
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Enjoy these conveniences:
• One bank
• One loan application
• Use for new construction or renovations
• Available funds for contractor disbursements
• Ability to convert to fixed rate mortgage
HELOC
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You’ve put time, effort, and money into your home. A Kaw Valley Home Equity Line of Credit can take the equity you’ve built, and let your home work for you! Whatever your needs, our home loan department will help get you where you want to be.
A HELOC (Home Equity Line of Credit) is generally an adjustable rate second mortgage with many benefits and several flexible options. |
• Withdraw funds only when you need them
• Use funds for almost anything
• Revolving credit lines available
• Interest is usually tax deductible*
To get started today, contact us at 785-456-2025.
*See your tax preparer for details
Refinancing
There are several questions that come to mind when a homeowner wishes to refinance their existing mortgage. Are you primarily looking to lower your interest rate and payment? Do you want to cash out on your home’s equity? Do you want to consolidate your other debts? Whatever your goal, the Kaw Valley State Bank home loan specialists will work with you to qualify you for the best loan program to fit your needs. Contact us today!
Adjust from an ARM to a Fixed Rate mortgage:
Many borrowers with an Adjustable Rate Mortgage (ARM) have seen or will begin to see their monthly payments climb. You can lock in a low and steady monthly payment by taking advantage of a Kaw Valley State Bank Fixed Rate Refinance.
Get Cash Out :
You can use the equity in your home to refinance your mortgage to get cash out and make home improvements, pay your child’s tuition bill, or take your dream vacation.
Consolidate your Debt:
Consolidating your debt by refinancing your home and using the money to pay off credit card and other bills is a great way to save money and lower your monthly payments on your debt. You get the advantage of reducing interest payments on your total debt by consolidating it into your home loan.
