Va Entitlement Worksheet PDF Details

Navigating the realm of VA loans can seem complex, but understanding the VA Entitlement Worksheet form brings clarity and empowerment to both lenders and borrowers. This crucial document outlines the calculations necessary to determine a borrower's entitlement amount and maximum loan amount possible under a VA loan. Essentially, it breaks down into sections where an initial entitlement for loans under or above $144,000 is determined, adjustments made for any previously used entitlement, and then the amount available for a new loan is calculated. The worksheet further guides through the computation of the highest loan amount allowable based on property value or sales price and the available entitlement, alongside figuring out any required cash down payment. Additionally, it details the steps to establish the guaranty percentage on the proposed loan amount, a key factor in the VA loan process. This document not only facilitates a smoother loan application process but also ensures veterans can maximize their benefits under the VA loan program, underscoring the importance of accuracy and understanding in its completion.

QuestionAnswer
Form NameVa Entitlement Worksheet
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesva max loan amount worksheet, va entitlement worksheet 2021, calculate remaining va entitlement worksheet, va entitlement calculator worksheet 2020

Form Preview Example

VA Entitlement Worksheet

Borrowers:

__________________________________________

 

 

 

 

 

Loan #

_______________________________________

 

 

 

 

 

VA Case #

_________________________________

 

 

 

 

 

ENTITLEMENT

 

 

 

 

 

AMOUNT

 

 

 

 

 

 

 

 

1a.

Enter $36,000 entitlement for all loans < $144,000, or

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1b.

Enter 25% of the VA County Loan Limit for a 1-Unit Single-Family residence

 

 

 

$

 

for loans > $144,000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.

Less used entitlement (if applicable)

 

-

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3.

Entitlement available for new loan

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MAXIMUM LOAN AMOUNT COMPUTATION

 

 

 

 

 

 

 

 

 

 

 

4.

Lesser of property value per NOV or Sales Price

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5.

Multiply by 75%

 

 

x

$

 

 

 

 

 

 

 

 

 

 

 

 

 

6.

Plus available entitlement (Take from line 3 above)

 

+

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7a

Maximum Base Loan Amount* (the lesser of Line 4 or Line 6), or

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7b

90% of NOV for regular/cash-out refinance (100% permitted if new mortgage

 

 

 

$

 

will be to payoff existing eligible liens only) or the amount from Line 6,

 

 

 

 

 

whichever is less.

 

 

 

 

 

 

 

 

 

 

 

7c.

Applicable loan amount from either 7a. or 7b.

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REQUIRED CASH DOWNPAYMENT COMPUTATION

 

 

 

 

 

 

 

 

 

 

 

 

8.

Lesser of property value per NOV or Sales Price (Take from line 4)

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9.

Less maximum Loan Amount (Take from line 7c)

 

-

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10.

Required Cash Downpayment/Equity

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GUARANTY PERCENTAGE ON PROPOSED LOAN AMOUNT COMPUTATION

 

 

 

 

 

 

 

 

 

 

 

 

11.

Entitlement (Take from line 3)

 

 

 

 

$

 

 

 

 

 

 

 

 

12.

Plus required cash downpayment/equity (Take from line 10)

 

+

 

$

 

 

 

 

 

 

 

 

13.

Total of line 11 plus line 12

 

 

 

 

$

 

 

 

 

 

 

 

 

14.

Divide line 13 by Property Value per NOV or Sales Price on line 4

 

()

$

 

 

 

 

 

 

 

 

15.

Guaranty Percentage (cannot be less than 25%)

 

 

 

 

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notes:

The maximum entitlement available to the veteran from the VA is the amount of guaranty or insurance benefit based on a Federal Housing Finance Agency (FHFA) one-unit, primary, single-family residence limit, regardless of the number of units in the property.

If the purchase price does not exceed the VA County Loan Limit, the total loan amount, less any financed funding fee, may never exceed the maximum VA County Loan Limit.

VA has very limited categories of loans considered eligible for Other Refinance option. Review the subtopic “Other Refinance” within the “Refinance” topic in the VA product description to determine eligibility for a rate/term refinance.

COR 0341 (03/03/17)

How to Edit Va Entitlement Worksheet Online for Free

There isn't anything complicated about filling in the va entitlement worksheet 2021 once you open our PDF editor. By simply following these basic steps, you'll get the fully filled out PDF in the least time frame feasible.

Step 1: Select the orange "Get Form Now" button on this webpage.

Step 2: Once you enter the va entitlement worksheet 2021 editing page, you will find each of the actions you can undertake regarding your file at the top menu.

Prepare the va entitlement worksheet 2021 PDF by entering the data meant for each area.

example of empty fields in va max loan amount worksheet

Write down the necessary details in Lesser of property value per NOV, Multiply by, Plus available entitlement Take, Maximum Base Loan Amount the, of NOV for regularcashout, Applicable loan amount from either, REQUIRED CASH DOWNPAYMENT, Lesser of property value per NOV, Less maximum Loan Amount Take from, Required Cash DownpaymentEquity, and GUARANTY PERCENTAGE ON PROPOSED part.

stage 2 to entering details in va max loan amount worksheet

It is vital to provide some information inside the space Entitlement Take from line, Plus required cash, Total of line plus line, Divide line by Property Value per, Guaranty Percentage cannot be less, Notes The maximum entitlement, VA has very limited categories of, and within the Refinance topic in the.

va max loan amount worksheet Entitlement Take from line, Plus required cash, Total of line  plus line, Divide line  by Property Value per, Guaranty Percentage cannot be less, Notes  The maximum entitlement, VA has very limited categories of, and within the Refinance topic in the fields to fill out

Step 3: Click the Done button to confirm that your finalized form could be exported to each electronic device you want or delivered to an email you specify.

Step 4: Have a copy of each separate form. It would save you time and make it easier to remain away from difficulties as time goes on. Also, your information isn't going to be distributed or viewed by us.

Watch Va Entitlement Worksheet Video Instruction

Please rate Va Entitlement Worksheet

1 Votes
If you believe this page is infringing on your copyright, please familiarize yourself with and follow our DMCA notice and takedown process - click here to proceed .