Susan Asks… I used my VA loan eligibility a few years ago on my former home ~ now I am looking for another home, can I use it again?

YES you can – it’s great news for Veterans. You can use your entitlement as many times as you wish – from your first home to your last. However, you can only have one VA loan at a time and it’s usually on your primary residence. Entitlement is what determines military mortgage eligibility for veterans qualified to receive VA benefits. Entitlement can vary per Veteran.

The short of it is, in order to fully restore entitlement, a previous or current VA Loan will have to be paid in full. Veterans should understand that restoration of entitlement is not automatic. Once a VA Loan has been paid in full through any of the various means described, the veteran must complete VA Form 26-1880 to notify the Department that his or her intention is to have entitlement restored. As long as he or she provides proof of payment in full, and in some cases disposal of property, restoration of entitlement is typically granted.

I hope this helps answer your question, Susan!

Meet Cheryl!

About Cheryl

As a successful business owner and community leader, Cheryl Braunschweiger is known and respected for getting things done with a degree of skill and enthusiasm that bring out the best in those around her - colleagues, clients and friends. The name of her business, ALMC Mortgage, reflects Cheryl's philosophy and personality. She says it stands for All Loans Must Close –a reflection of her determination to do whatever it takes to serve her clients. Cheryl has been in the mortgage lending business for 20 years. Read More About Cheryl
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One Response to Susan Asks… I used my VA loan eligibility a few years ago on my former home ~ now I am looking for another home, can I use it again?

  1. George Neumann says:

    I would like to refinance my old conventional loan using my va eligibility. Can I do this and then in the future use it again to purchase a new home. I would be paying off the old mortgage.

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