Direct VA Loans

Using VA Home Loan Entitlement

Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.

How do basic and bonus entitlements work?

VA borrowers typically want to know how entitlement works and how much entitlement they need to purchase a home. Each VA-eligible borrower has bonus and basic entitlement. If you are seeking a VA loan of $144,000 or less, then basic entitlement of $36,000 is all you will need. For loans over $144,000, a VA borrower also gets bonus entitlement of $68,250. Sometimes basic entitlement is all that is needed to purchase a property; and sometimes basic and bonus entitlement are used in combination for 100% financing up to $417,000. In rare cases, bonus entitlement is used alone for VA loans between $144,000 and $273,000 with no down payment. This would only occur if basic entitlement is already being used and has not been restored and bonus entitlement is still available. Remember, the VA-eligible borrower must show ability to pay before he or she can get a VA home loan of any amount.

A VA loan professional is the right person to ask for more information about VA mortgage entitlement.

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