I applied for a VA streamline refinance mortgage. I signed the documents in a hurry and paid a $500 application fee. After reviewing the application paperwork, I noticed that the calculation to qualify for the VA refinance was incorrect. The lender entered incorrect information on the application, which showed that the loan met the Veterans Affairs loan requirements to recoup loan costs within 36 months. However, if the correct numbers had been used, the the loan would not qualify. I requested my application be withdrawn. To me, this seems like a mistake that shouldn’t happen at one of the largest mortgage lenders in the United States. Am I entitled to a refund of my mortgage application fee?
1 Answer from Attorneys
Yes, you should be (assuming that the incorrect calculations demonstrate that there was "no meeting of the minds"
of the parties involved in this contract.
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