Magnolia Bank

VA Home Loan Privileges

If you qualify, take advantage of your VA home loan advantages for the first time or even if you have used one in the past to help finance your home. The VA home loan in Columbia, MO and across the United States is an amazing advantage for all eligible US veterans to purchase a primary residence with no down payment and no monthly mortgage insurance costs, an advantage almost no other loan can offer. Magnolia Bank is based out of Columbia, MO and may help you obtain your VA loan today!

  • Are you a veteran looking to purchase a primary residence?
  • Are you looking for 100% financing* within city limits?
  • Do you have a lower credit score and wish to put little to no money down?
  • Are you looking to refinance your home’s value?

If you answered “Yes” to any of these questions, Magnolia Bank in Columbia, MO is the perfect mortgage lender for you. Call Magnolia Bank, or fill out the form on the side to get in contact with one of our loan officers.

*The interest on the credit portion of the extension that is greater than the Fair Market Value of the property may not be tax deductible. Consult your tax advisor for more information

What is a VA Home Loan?

The VA home mortgage program is designed to offer long-term financing to American veterans offered by lenders, like Magnolia Bank. VA home loans help veterans purchase properties with no down payment and are guaranteed by the U.S. Veteran’s administration. In addition to no down payment, there is no mortgage insurance added to the monthly payment for VA home loans.

VA Home Loan Qualifications & Features

  • Eligibility – The U.S. Veterans Administration determines eligibility and issues a certificate to qualifiers to submit to mortgage lender of choice.
  • Jumbo VA Home Loans – Jumbo VA home loans are available up to $1,500,000.
  • Fixed-Rate Loans – 30-, 20- & 15-year fixed-rate and 5-year ARM loans available
  • Refinance – Refinance up to 120% of your primary home’s value.
  • No Money Down – Buy a home with no money down and no monthly private monthly mortgage insurance.
  • In most cases a funding fee is required. Please talk to your Loan Specialist for specific details regarding the VA Funding Fee