Yes, your eligibility is reusable depending on the circumstance. If you have paid-off your prior VA Loan, and disposed the property, you can have your eligibility restored again. Also, on a 1-time basis, you may have your eligibility restored if your prior VA Loan has been paid-off, but you still own the property. Either way, the Veteran must send the Veterans Administration a completed VA Form 16-1880 to the VA Eligibility Center. To prevent delays in processing, it's advisable to include evidence that the prior loan has been fully paid, and if applicable, the property was disposed. A paid-in-full statement from the former lender or a copy of the HUD-1 settlement statement must be submitted.
HOMEPLUS CORPORATION
NMLS ID 78669
Real Estate Broker – CA DRE License #01426454
9655 Granite Ridge DriveSuite 200San Diego, CA 92123
Todd Benware
NMLS# 296558
CADRE #01204874
Branch Manager
Mortgage Loan Originator
Del Mar Branch NMLS# 2310137
1011 Camino Del Mar, Suite 236
Del Mar, California 92014
Phone: (800) 511-4080
todd@toddbenware.com
HomePlus Mortgage is not affiliated with the VA, FHA or any other government agency. This site has not been approved by any government agency.
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