g. Conditional Commitments (continued)

Case

Condition/Notation on Certificate

Veteran intends to sell property on which he/she has an existing VA loan prior to closing on the new VA loan, in order to have entitlement restored

“This commitment is conditioned upon submission of evidence of disposal of the property which the veteran now owns and previously purchased using VA entitlement and evidence that the loan has been paid in full or that an eligible veteran has substituted his or her entitlement for that used by the original veteran.”

Reference: See section 6 of chapter 5, for required documentation.

Veteran intends to sell property in order to have sufficient income and/or assets to qualify for the loan

“This commitment is conditioned upon the consummation of the sale of residential real property now owned by the veteran, as proposed in the loan application.”

Reference:  See section 6 of this chapter for required documentation.

h. Joint Loans

See section 1 of chapter 7.

i. Before Closing

Complete all applicable procedures in section 2 of this chapter.