Borrowers: Loan #:VA Case # :Entitlement Amount

1a. $

1b. $

2. - $

3. $

Maximum Loan Amount Computation

4. $

5. x $

6. + $

7a $

7b $

7c. $

Funding Fee Calculation

8. $

9. + $

10. $

Required Cash Downpayment Computation

11. $

12. - $

13. $

Guaranty Percentage On Proposed Loan Amount Computation

14. Entitlement (Take from line 3) $

15. Plus required cash downpayment/equity (Take from line 13) + $

16. Total of line 14 plus line 15 $

17. Divide line 16 by Property Value per NOV or Sales Price on line 4 (÷) $

18. Guaranty Percentage (cannot be less than 25%) %

Cash out refinances with a base loan amount greater than the VA County loan limit may add the VA Funding Fee to the base loan amount if the property has sufficient equity plus entitlement

VA Entitlement Worksheet

If the purchase prices does not exceed the VA County Loan Limit, the total loan amount, including funding fee, may never exceed the maximum VA County Loan Limit

If the purchase price and/or base loan amount exceeds the VA County Loan Limit and the borrower is making a cash downpayment, the VA Funding Fee can be financed Cash out refinances with a base loan amount equal to or less than the VA County Loan limit – total loan amount, including financed funding fee, may never exceed the VA County Loan Limit

Lesser of property value per NOV or Sales Price (Take from line 4)

Less maximum Loan Amount (Take from line 7c)

Required Cash Downpayment/Equity

Enter Funding Fee based off of Funding Fee Matrix %

Total Loan Amount

Applicable base loan amount from either 7a.or 7b.

Enter loan amount from 7c

Maximum Base Loan Amount* (the lesser of Line 4 or Line 6), or

90% of NOV for regular/cash-out refinance (100% permitted if new mortgage will be to pay-off existing eligible liens only) or the amount from Line 6, whichever is less.

Lesser of property value per NOV or Sales Price

Multiply by 75%

Plus available entitlement (Take from line 3 above)

Less used entitlement (if applicable)

Entitlement available for new loan

Enter $36,000 entitlement for all loans < $144,000, or

Enter 25% of the VA County Loan Limit for loans> $144,000.