Va Entitlement Worksheet – Fill Out and Use This PDF

Borrowers:

__________________________________________

Loan #

_______________________________________

VA Case #

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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%)

%