VA Mortgage Loan Eligibility Quiz
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Questions and Answers

What document demonstrates a veteran's eligibility for a VA mortgage loan?

  • Loan application form
  • Credit score report
  • Certificate of eligibility (correct)
  • Employment verification letter
  • What is the maximum entitlement amount a veteran can have under the current VA mortgage loan program?

  • $125,000
  • $80,000
  • $60,000
  • $106,025 (correct)
  • How often can a veteran use the VA entitlement for a mortgage loan?

  • Only if a new loan is taken out
  • Multiple times after repayment of a prior loan (correct)
  • Only once per lifetime
  • Only if they switch to another lender
  • Which of the following is NOT related to VA mortgage loan eligibility?

    <p>Current employment status</p> Signup and view all the answers

    What happens to a veteran's entitlement if they allow another qualified veteran to assume their existing VA loan?

    <p>It can be reused by the assuming veteran</p> Signup and view all the answers

    What is the minimum service requirement for a veteran to qualify for a VA loan during peacetime?

    <p>181 days</p> Signup and view all the answers

    Which condition allows a surviving spouse to be eligible for VA loan benefits?

    <p>Veteran was killed in action</p> Signup and view all the answers

    How long must a veteran serve during a military conflict to qualify for a VA loan?

    <p>90 days</p> Signup and view all the answers

    Which of the following qualifies a veteran for VA loan benefits automatically?

    <p>Disability discharge</p> Signup and view all the answers

    What was the service requirement for VA loan eligibility during the Gulf War that has not been reinstated?

    <p>90 days</p> Signup and view all the answers

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