Many military borrowers are under the impression that they lose their VA loan eligibility once they pay off their loan. Many veterans are unaware that the loan program can be used multiple times as long as there is entitlement. The entitlement allows the veteran to qualify for various VA programs once it is restored. Veterans can restore their entitlement by doing a few things before they pay off their loan.

Some Ways to Restore VA Entitlement Benefits

If you are looking to restore entitlement prior to paying off your loan, there are a few simple steps you can take that help. First, you can sell your home and use the proceeds from the sale to pay off your VA loan. If you use this step, chances are very good your entitlement will return. If you do not want to sell your home, there is one way that can help. You are eligible for a one-time restoration for any properties that were paid in full by you. For the most part, any VA mortgage that is paid as agreed allows you to obtain entitlement. You can also have your loan assumed by another veteran if they are VA loan eligible. If the mortgage is “taken over” by another borrower, your entitlement returns after meeting a few simple requirements and you are free to use as many of the VA programs when you obtain your certificate of eligibility.

Who to Talk to About Entitlement Restoration

If the entire entitlement process confuses you, then you need to contact a VA mortgage professional. We are the first place to start when you have questions. We are a team of mortgage professionals whose sole purpose is answering your mortgage questions. Contact us today.

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