Podcast
Questions and Answers
What document demonstrates a veteran's eligibility for a VA mortgage loan?
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?
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?
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?
Which of the following is NOT related to VA mortgage loan eligibility?
What happens to a veteran's entitlement if they allow another qualified veteran to assume their existing VA loan?
What happens to a veteran's entitlement if they allow another qualified veteran to assume their existing VA loan?
What is the minimum service requirement for a veteran to qualify for a VA loan during peacetime?
What is the minimum service requirement for a veteran to qualify for a VA loan during peacetime?
Which condition allows a surviving spouse to be eligible for VA loan benefits?
Which condition allows a surviving spouse to be eligible for VA loan benefits?
How long must a veteran serve during a military conflict to qualify for a VA loan?
How long must a veteran serve during a military conflict to qualify for a VA loan?
Which of the following qualifies a veteran for VA loan benefits automatically?
Which of the following qualifies a veteran for VA loan benefits automatically?
What was the service requirement for VA loan eligibility during the Gulf War that has not been reinstated?
What was the service requirement for VA loan eligibility during the Gulf War that has not been reinstated?
Flashcards
VA Loan Eligibility
VA Loan Eligibility
A veteran's eligibility for a VA mortgage loan is shown on a certificate of eligibility, indicating the guarantee amount.
VA Entitlement
VA Entitlement
The maximum amount the VA will guarantee for a veteran's loan, currently $106,025.
VA Loan Entitlement Use
VA Loan Entitlement Use
A veteran's entitlement can be used repeatedly if prior VA-backed loans are paid off, or a willing veteran assumes an existing loan.
VA Loan Program History
VA Loan Program History
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VA Loan Eligibility
VA Loan Eligibility
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Entitlement Period (Peacetime)
Entitlement Period (Peacetime)
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Entitlement Period (Conflict)
Entitlement Period (Conflict)
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Disability Discharge
Disability Discharge
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Surviving Spouse Eligibility
Surviving Spouse Eligibility
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