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Entitlement Information
When applying for a VA loan Spire Financial will request a Certificate of Eligibilty (COE) for you from the VA. The COE breaks down your entitlement code as well as your entitlement amount. This form can be a bit confusing. VA insures up to 25% of any loan you get through them up to $417,000 in most cases. However, on the COE it will only show $36,000, which at 25% would only be a house for $144,000. What doesn't show is the bonus entitlement of the remaining 25% of $417,000 which is $68,500. In some cases you can use this additional entitlement to have multiple VA loans at one time. For more on this, call a Spire Financial loan specialist to determine if you are eligible. A full entitlement will show an amount of $36,000 and will typically let you borrow up to $417,000.
Entitlement Codes:
Entitlement CodeCode Meaning01World War II02Korean War03Post Korean War04Vietnam War05Entitlement Restored06Un-remarried Surviving Spouse07Souse of POW/MIA08Post World War II09Post-Vietnam10Gulf War11Selected Reserves
Most COE's will show an entitlement of 4, 5 or 10. Entitlement code 5 will show if you have had a VA loan before. If your basic entitlement amount is $0 email us and we can help you fix it. Do you have more questions on this? Email us atVaLoanQuestions@SpireFinancial.com.
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