Va Entitlement Worksheet 2021 Details

The Va entitlement worksheet form is an important document to have when applying for Veterans Affairs (VA) benefits. It helps you gather all the information needed to complete your application and speeds up the process. The form can be downloaded from the VA's website or accessed online. You can also get a paper copy by calling 1-800-827-1000 or visiting your local VA office. The worksheet asks for personal information, such as your name, date of birth, and Social Security number, as well as details about your service history, discharge status, and disability rating (if any). Make sure you fill out the form completely and accurately to avoid delays in processing your application.

Here is some data that might be beneficial if you are looking to determine how long it will take you to fill out va entitlement worksheet and how many PDF pages it includes.

QuestionAnswer
Form NameVa Entitlement Worksheet
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesva entitlement worksheet fillable 2021, va entitlement worksheet fillable 2020, va entitlement calculator, va entitlement 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 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:

Cash-out refinances with a base loan amount equal to or less than the VA County Loan Limit, must have the total loan amount reviewed, including any financed funding fee, as the total loan amount may never exceed the VA County Loan Limit.

Cash-out refinances with a base loan amount greater than the VA County Loan Limit, may add the VA Funding Fee to the base loan amount, if the property has sufficient equity plus entitlement.

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

If the purchase price and base loan amount exceeds the VA County Loan Limit and the borrower is making a cash downpayment, the VA Funding Fee can be financed in.

The maximum total loan amount, including any financed funding fee, for any rate/term refinance or IRRRL transaction is $417,000.

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

COR 0341 (1/09)