September 22, 201411 yr Slightly higher for reserves and Guard in most cases...lowest is a little more than 1.25 for AD and 1.5 for ANG and Reserves. Assumptions are different. Posted from the NEW Baseops.net App!
September 23, 201411 yr Slightly higher for reserves and Guard in most cases...lowest is a little more than 1.25 for AD and 1.5 for ANG and Reserves. Assumptions are different. Posted from the NEW Baseops.net App! True story... Go to the Veteran's Advantage website and use their calculator. It was very accurate as a predictor of my final number, and you can change it for active vs. Guard/Reserve.
September 24, 201411 yr I just bought a house with a VA loan, through NBOKC and Dave Devine, and my interest rate was not higher because of being a Reservist.
September 24, 201411 yr I just bought a house with a VA loan, through NBOKC and Dave Devine, and my interest rate was not higher because of being a Reservist.The question was about the funding fee not the interest rate.https://www.benefits.va.gov/homeloans/documents/docs/funding_fee_table.pdf Posted from the NEW Baseops.net App! Edited September 24, 201411 yr by Herk Driver
September 25, 201411 yr Gotcha, zero funding fee but that's bc I have a VA disability. On this note, I just finished TAP a couple weeks ago. We were told that if you already have a VA loan in which you paid the VA funding fee, and are subsequently retired or separated and given a disability rating of 10% or higher, that you can recoup your funding fee from the bank by sending your bank a letter detailing your disabled status, and they have to refund the fee (towards your principal). I'm not sure exactly what paperwork that would require, but this could potentially be a huge chunk of change for some of us. In my case, that's just slightly more than $10K on my current loan. Edited September 25, 201411 yr by flyjetz
September 26, 201411 yr Using that technical tool 'google' i found the following as hit #3 about Va funding fee refunds...if you paid cash you get cash, if you rolled it in, you get it off the principal. Pretty simple...you can get it before you separate if you get a disability rating...not sure if that's possible though. https://www.valoans.com/va_article?id=366 Edited September 26, 201411 yr by theat6bisasham
September 27, 201411 yr The catch with this is that the date of your VA claim has to be prior to the closing date on your home for the funding fee refund to be applied.
September 27, 201411 yr I'm not saying you are wrong, but this is not how it was described in TAP. No worries. For reference sake, it's in VA Pamphlet 26-7, chapter 8, pg 8-19. If the veteran has a pending disability compensation claim at the time of loan closing, the funding fee must be remitted as if the borrower was not exempt. Advise the veteran to contact the VA RLC to request a refund if it is later determined that the veteran is entitled to compensation retroactively to a date prior to loan closing.
September 27, 201411 yr Another happy NBoKC customer. First time home buyer, just closed with Trevor Campbell from overseas. He was easy to work with and we closed within 30 days. Couldn't recommend him and NBoKC enough.
September 27, 201411 yr I'm not saying you are wrong, but this is not how it was described in TAP. I didn't get my funding fee back bc we closed on our house 4 days prior to the VA declaring a disability on me. I was told that even though it was after I was seen by the Veterans Service Office and all my paperwork was done and submitted, that the VA hadn't received it yet. It all revolves around the date that the VA receives the paperwork. Out almost $10k bc of 4 days....
October 1, 201411 yr Count the wife and I as two more happy NBoKC customers. Closed within 30 days of our offer being accepted, pretty killer rate, and with Dave Devine had someone who really smoothed the way--we were first time homebuyers. I should also probably add that our realtor and title agent were also super impressed with the folks at NBoKC. We're down in south FL, where there are probably more shenanigans and amateur-hour acts than most real estate markets. It was interesting to hear from the other professionals we were working with (who thankfully were also no-nonsense types) how much they appreciated Dave and his colleagues.
October 7, 201411 yr Pile-on to all of the above regarding NBoKC and Dave Devine. Top notch service, good rate and price. We used a VA loan for a new construction.
November 3, 201411 yr +1 for NBoKC and Dave Devine. 3.375% on a 30 year fixed VA on a new construction. Dave was incredibly easy to work with and I got responses within a couple hours at the most. Highly recommend and will definitely use NBoKC again.
November 5, 201411 yr Used NBOKC for my recent purchase. Good rate and initially no problems. In the end, they missed closing twice, once on a Friday, which meant living in a hotel for an additional 4 days with my whole family in tow, at my expense of course. So while I'm happy with the rate and the transaction in the long-run, they really shit the bed in terms of executing my closing. They even sent me a $250 check and had me speak to a VP as a way of saying sorry for screwing things up. Best of luck to future borrowers since it seems like my somewhat negative experience is the exception rather than the rule.
November 5, 201411 yr So they made a mistake, tried to own up to it, and you're still upset about it?
November 5, 201411 yr And sent you a $250 check, which helps with the hotel bill, and you're still upset about it?
November 6, 201411 yr I'm not actively pissed anymore, but can't say I enthusiastically recommend them based on the service I received. I give them credit for making a good faith gesture and admitting to their errors, but I also still hold them accountable for failing to deliver results when it counted. Long-term it's NBD, I got a good rate and that's really what matters. Edited November 6, 201411 yr by nsplayr
November 6, 201411 yr Then there is no pleasing you Mr. Powers... Everyone screws up, how they try to make it right is what really matters in my book (within reason of course). USAA could barely return my weekly emails last time I refi'd. As for the closing, they didn't even bother to show up, seriously.
January 12, 201510 yr Author Hello everyone, I haven't posted in a while. You may have seen the recent 10 year treasury yields dip down quite a bit in the last week. That is a big driver in mortgage interest rates, which have also dipped. We have seen a spike in VA refinance applications in the last week as a result. They aren't that far off to where we saw in certain parts of 2012/2013. Feel free to send me a PM if you'd like a quote! Dan Stevens National Bank of Kansas City
January 13, 201510 yr Hello everyone, I haven't posted in a while. You may have seen the recent 10 year treasury yields dip down quite a bit in the last week. That is a big driver in mortgage interest rates, which have also dipped. We have seen a spike in VA refinance applications in the last week as a result. They aren't that far off to where we saw in certain parts of 2012/2013. Feel free to send me a PM if you'd like a quote! Dan Stevens National Bank of Kansas City Just refinanced with Dave Devine. 3.25% with a $3.5K credit that covers the closing costs and .5% funding fee. Basically free money. Hope you guys can beat my good deal!
January 13, 201510 yr Also closed with Dave Devine. Got 3.25 with no points. No hassle and a great dude to work with.
Create an account or sign in to comment