Entitlement and Reusing the Entitlement

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Types of mortgages

Section 40 of 72

The "entitlement" is the specific dollar amount the VA promises to pay back to a lender in case of default. While most veterans use their entitlement to buy a home, it is not a one-time benefit. A veteran can reuse their entitlement if they pay off the previous VA loan in full and dispose of the property (or keep it and pay off the loan). In some cases, if a veteran has remaining entitlement left over after buying a home (for example, if they bought a very inexpensive home), they may be able to use the "bonus" entitlement to purchase a second home, though strict rules apply.