Types of Loans

Landmark National Bank has a wide variety of mortgage options.  We will work with you to ensure you get the home loan that meets your needs.  Here are the most common types of loans, although Landmark does offer additional types of financing.

Conventional or Conforming Loans

  • Maximum loan amount of $424,100
  • Borrow up to 97% of purchase price. Certain conditions apply
  • Loans require Private Mortgage Insurance unless the down payment is 20% or more. We offer a number of payment options to pay for Private Mortgage Insurance

FHA Loans

  • Maximum loan amount is based on geographic area; The Kansas City area is $281,300; the Kansas and Missouri area outside of Kansas City is $271,050
  • Borrow up to 96.5% of the purchase price, or 97.75% of the appraised value on a refinance
  • Loans require mortgage insurance, with a 1.75% upfront premium which is usually added to the loan balance.  We offer a number of payment options to pay for Mortgage Insurance

VA Loans

  • Must be a veteran or the spouse of a veteran
  • Maximum loan amount is based on geographic area
  • Borrow up to 100% of the purchase price or refinance
  • An up-front guarantee fee may apply based on the veteran's military status. This amount can be rolled into the loan, and there is no monthly premium.

USDA Loans

  • Must be in a USDA (U.S. Department of Agriculture) approved area
  • Must meet maximum household income guidelines
  • Borrow up to 100% of the appraised value of the home
  • A 1.0% USDA guarantee fee will apply. The amount will be rolled into the loan, in addition to a small monthly premium.

How the Loan Process Works

Once you select Landmark to obtain your home loan, you'll be amazed at how quickly and simply the home loan process moves. Before you know it, you'll have a home loan that fits your lifestyle and saves you money.

Step 1: The Prequalification

Call us first! With some general financial information, we can help you determine how much you will be able to borrow. Having a prequalification letter in hand could also give you more power during the home search and price negotiation.

Step 2: The Application

When you have selected a property and have a contract with the Seller, the next step is to complete your loan application.  It's easy to do right here online!  At the appropriate time, we'll order an appraisal for you.  Please keep in mind that applying for a mortgage is an ongoing process that takes into account everything you do financially up until the time of closing. We encourage borrowers to avoid incurring any new debt or making any lifestyle changes that may affect the approval of the loan.

Step 3: Loan Approval and Funding

Your real estate agent or the Seller will designate an Escrow/Title Company to handle the funding of your loan, along with other factors which make your purchase go smoothly.  We will coordinate with the Escrow team, and you will sign the final papers.  At closing, you will need a photo ID, and if any funds are needed at closing, a cashier's check.

The Home Loan Checklist: What Documents Do I Need?

  • Current driver's license or other photo identification

  • Current pay stubs which show year-to-date income, W-2's for the past two years, or, if self-employed, tax returns for the past two years

  • Bank statements from the past two months

  • Investment and retirement account statements, if you are planning to use funds from these accounts for the down payment.

  • If you are retired, and/or if you are receiving Social Security Income, your current award letter

  • If you currently own real estate, your mortgage account information and your home insurance policy information

Just for First Time Homebuyers

Home Possible Advantage

This FreddieMac program offers low down payments for low-to moderate-income buyers or buyers in underserved communities.

Kansas Housing Assistance Program

This statewide program provides down payment assistance to qualified first-time homebuyers.

Other Available Programs

We also partner with the Federal Home Loan Bank Housing Assistance Program and the Missouri Housing Development Corporation.