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A VA approved lender. NMLS#173855. Cornerstone Military Lending is a registered DBA of Cstone Mortgage Inc. Not affiliated with the Dept. of Veteran Affairs or any government agency.

VA Benefits - Entitlement

What is the VA entitlement?

This is the amount of money that the VA can guarantee for your new mortgage. It is calculated by the location of the home and your prior usage of the VA loan. We'll walk through it, here.

For all veterans in the program, the basic entitlement is for $36,000. This can also be called a primary entitlement, and it is the standard amount across the country. If the veteran homebuyer is looking in a higher priced market-area, then this amount will be added to. The VA's aim is to help the veteran to get a home without a down payment.

A Loan Limit is the maximum amount that a VA Home Loan will secure you for when determining the loan. Based on the Loan Limit of your area, the VA will be able to guaranty a portion of your loan. Typically, in most parts of the country, the loan limit is for $453,100. Now, let's break this down:

An example can be: A veteran is buying a home for the usual amount, $453,100. Take 1/4th of that loan amount, which is $106,025. This 1/4th amount is how much the VA will guaranty your mortgage for. The lender will be assured that your payments won't stop if you need to spend that money on other bills. If you miss a month, the VA will then make the payment for you. Of course this only goes so far, and if the borrower doesn't pay for a long time, the entitlement will run out. If this continues month after month until its depletion, the home can be foreclosed on. But the plan is for borrowers to have plenty of time to solve their income situation before that happens.

There are even ways of restoring your amount, if you've used it already. Even after a foreclosure, it is still possible to restore the amount of entitlement. Speak to us about your goals with the VA Home Loan Program, and we'll help you to realize them.

We believe that the VA Loan is great for so many people. Your service to the nation, in whatever capacity, has earned you this entitlement. You can take advantage of this valuable benefit, and it will help you for years to come. There is no other program that can do this amount of good for you and your family.

A Cornerstone Military Lending loans specialist can help you to figure out your entitlement amount. Talk to a loan specialist at '866-815-1803 or start your home loan quote today.

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