VA funding fee

[Delao]

I applied for VA compensation on 02/2012 under IDES system. I bought the house on 06/2012 and paid VA funding fee to Home Plaza Mortgage and loan transffered to Wells Fargo bank. I did refinance on Dec 2012 to reduce my interest rate with BNC bank and paid 0.5% VA funding fee and again loan sold to Wells Fargo Bank.
I received my proposal rating from VA on March 2013.
Can I request for refund on VA funding fee?
If yes, What I have to do and how long does take to get refund?

I appreciate any help.

 

[turion1973]

Very good question to ask, I have myself been going thru the home buying process and I did ask the VA and the Mortgage company the same question. Yes you can get a refund on you funding fee, and you can get the funding fee exemption off of your proposed ratings you have to contact your regional VA home loan center depending on were you bought your house and submit you proposed ratings to them. Now you may have to play the VA some of the Reps will tell you no you cant, but you very much can. Once you get the new COA you just take it to your lender and they will do the rest. Now the only thing I know that you cant do with your proposed ratings is us your ratings to provide proof of income for the lender or VA. Here is the WEB site to for the differant VA Home Loan Regional offices. http://www.benefits.va.gov/homeloans/contact_rlc_info.asp

I myself had to go with a conventional loan because the VA would not back me since I was in the MEB/PEB and they knew I was getting out of the Army the bank told me that I would have to wait to get out to purchase and provide my Benefits Letter from the VA. On a conventional loan the had to use my current income because it is a violation of the Fair Credit Act to hold in assumption of a loss of income since I have been at my current job for over two years 11 to be exact, and they had to use my ETS date on LES. Don't ask me how the VA gets around this law but they do. Some of our benefits don't work for us when you really need them to.