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KBishop Funding
KBishop Funding

KBishop Funding

At KBishop Funding, we are committed to providing our clients with the highest quality financial services to ensure they receive the best possible scenario for not just the two most commonly recognized components of a desirable mortgage; lowest rate and payment, but also the best possible scenario for closing costs.

Our mortgage professionals will work with you on a one to one basis to ensure that you get a financial solution that is tailored specifically to yield the best combination of all components of a mortgage that best suits your needs.  Whether refinancing an outstanding loan, purchasing a dream home or consolidating debt, our highly experienced staff will find the best match for a loan.

Our goal is to develop lasting and mutually beneficial relationships with each of our clients so that we may continue providing excellent service for many years to come.

Our experience and industry knowledge is unsurpassed. To speak directly with an experienced mortgage professional simply give us a call anytime or feel free to utilize any of the interactive tools offered throughout the site.  We look forward to working with you!

THE COMPLETE GUIDE TO VA HOMELOANS

WHAT IS A VA LOAN?

The VA Loan is a federal loan offered to veterans, military members and qualified military spouses created to help families purchase or finance their home during the home buying process. It is a government-backed loan guaranteed by the U.S. Department of Veterans Affairs (VA). Each loan is issued by a qualified VA lender that determines the rates, terms and conditions of the loan based on VA rules and guidelines.

The VA Home Loan was created in 1944 by the United States government to help returning service members finance and purchase for their families without needing excellent credit or a down payment.

Due to the housing market crisis that happened between 2008 and 2012, traditional home loan lenders have made it more difficult to qualify for a home loan. VA Home Loans makes it easier for qualified service members to qualify for loan programs with very strict qualifications.

VA LOANS

$0 No Money Down 

Qualified borrowers can take advantage of a VA loan without putting down a down payment.

No PMI 

Federal Loans do not require Private Mortgage Insurance, reducing the overall costs associated with the loan.

Competitive Interest Rates 

Lenders have more freedom to offer lower interest rates to home buyers due to being backed by the federal government.

Less Requirements 

In general, you can qualify for a VA Loan with fewer requirements, making it easier to get approved.

TRADITIONAL MORTGAGES

Up to 20% Down

Qualified borrowers are required to put down a payment of up to 20%.

PMI (Insurance Required)

Private Mortgage Insurance is required for any home buyer that finances 80% or more of their home.

Higher Interest Rates

Without any government guarantees, interest rates are usually higher to compensate for additional risks.

Standard Qualification Procedures

All standard approval procedures must be followed which makes it more difficult for a homeowner to qualify for financing a home.