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Step 4: Answer the questions on the “Prior VA Loan Information” screen. Once complete,
If you select “Yes” to the second question, additional information is requested (as
illustrated in the second screen shown below). Please note that you should only answer
“Yes” to one of the five questions. The following bullets provide helpful information for
answering these questions.
Do you want your entitlement restored to refinance this home (cash out refinance)?
= Only answer “Yes” to this question if you plan to obtain a “cash-out” or “regular”
refinance loan.
Are you applying for a Certificate of Eligibility because you plan to refinance an
existing VA loan to obtain a lower interest rate without receiving any cash proceeds
(IRRRL/Streamline)? = Only answer “Yes”
to this question if you plan to obtain an
Interest Rate Reduction Loan.
Do you want your entitlement restored to use on a different home? = Only answer
“Yes”
to this question if you want
to restore your enti
tlement without disposal of
the property. Please note that any future restoration would require disposal of all
Do you intend to sell this home before closing on your next VA guaranteed home
loan? = Only answer “Yes” to this question if you plan to sell this home before
closing on your new loan.
Are you applying for a Certificate of eligibility to determine the amount of home
loan entitlement you have available for another VA loan without restoring = Only
answer “Yes”
to this question if
you want to know your remainin
g entitlement a
nd do
not want to restore your entitlement.