Remaining entitlement and restoration of entitlement can be requested through the nearest VA office by completing VA Form 26-1880. The entitlement may also be restored one time only if the veteran has repaid the prior VA loan in full but has not disposed of the property purchased with the prior VA loan. The application process is not much different than any other type of mortgage loan. If the lender is VA approved for automatic funding, the loan can be closed by the lender without waiting for VA's approval. Not all lenders are approved for VA automatic funding and LAPP review.
Approved lenders are generally able to expedite the loan process.
The veteran needs a copy of form DD-214 and a Certificate of Eligibility. The most popular VA mortgage is the traditional 30 year fixed rate. This mortgage features equal monthly payments for the life of the loan. The VA fixed rate mortgage can be combined with a temporary buy down. The payment is used to reduce the interest rate for the initial period of the loan, usually 1 or 2 years.