Sentences with phrase «used some of your loan entitlement»

Keep in mind the required down payment can increase significantly if you've already used some of your loan entitlement and it can't be restored, either because you currently have a VA loan or you lost a VA - backed mortgage to default.

Not exact matches

Veterans and service members using the VA loan benefit for the first time have their full VA loan entitlement available, which allows qualified buyers in most of the country to borrow up to $ 453,100 before having to make a down... Full Article

For example, on a typical $ 200,000 loan, you're typically using $ 50,000 of entitlement.

At that point, if you're planning to hold onto the home rather then sell it, you could look to apply for the one - time restoration of entitlement to purchase again using your full VA loan entitlement.

Use of additional loan entitlement is not required.

Even if that loan is not paid off, the veteran could use the $ 23,500 difference between the $ 12,500 entitlement originally used and the current maximum of $ 36,000 to buy another home with VA financing.

If you have paid off your prior VA home loan and disposed of the property, you can have your entitlement restored for additional use.

With an IRRRL, the new loan does not require the use of new or additional VA loan entitlement.

Eligible spouses can decide to use all of one spouse's entitlement for a VA loan, split their entitlement evenly for a VA home loan, or have one spouse use remaining entitlement from a previous VA home loan with the other spouse providing the rest for the new mortgage.

Although the VA home loan is an entitlement that can be used any number of times, foreclosing for a second time will result in the loss of the VA home loan benefit.

Veterans and service members using the VA loan benefit for the first time have their full VA loan entitlement available, which allows qualified buyers in most of the country to borrow up to $ 453,100 before having to make a down payment.

Because the VA typically backs a quarter of the loan, you used $ 50,000 of your VA loan entitlement.

Buyers who assume an existing VA loan must still qualify and go through the assumption process and it's important to note that an assumption does not restore your VA home loan entitlement and you can't use your entitlement again if and when your buyers refinance out of the assumed loan or sell the property, retiring the note.

You can choose to use your entitlement solely in cases like this or opt for a «dual entitlement» scenario, with each eligible borrower utilizes a portion of their VA loan entitlement.

The amount of guaranty on the loan depends on the loan amount and whether the veteran used some entitlement previously.

At that point, if you're planning to hold onto the home rather then sell it, you could look to apply for the one - time restoration of entitlement to purchase again using your full VA loan entitlement.

With an IRRRL, the new loan does not require the use of new or additional VA loan entitlement.

At the end of the day, you'll need to borrow at least $ 144,001 in order to purchase again using your remaining VA Loan entitlement.

Whatever amount of VA loan entitlement was used to secure the original purchase loan remains the same for the new loan, regardless of the loan amount.

The Borrower has several requirements, one being Disclosure of Any Lawsuits, That are pending and / or Contemplated that may effect the Subject PROPERTY being used for Collateral.None were declared in writing, but the Lender had heard the Borrower had Sued a Government Agency concerning their entitlements, but had not been provided the Lender any Documents before the Closing of Loan., The Lender Closed the Loan in Feb 2016 but did NOT provide any written info or details about the Lawsuit and Two Contemplated LAWSUITS WITHOUT DISCLOSING ANYTHING TO THE LENDER.