Can I get my full VA benefits back if previous loan was foreclosed?

HI Williamthomas,Yes you can request to have you benefit restored and VA will investigate and make a determination as to whether or not you qualify for an exception. The good news is you probably don't need to have your full entitlement restored in order to buy a home. The 2nd tier entitlement makes this possible.Please feel free to contact me for more information or help. | John Burke | Senior Mortgage Banker | Great Plains Bank | http://www.valoansdoneright.com | (877)228-9069 | Lending in ALL 50

More info needed, but in general.. on a very, very rare occasions, will the VA restore your full benefits, but if the loss was only $12K.. then you probably have remaining entitlement that you can use.. Two ways to know for sure.. First, you can contact a local mortgage professional, and let them order a VA eligibility certificate.. that will show exactly what you have left.. or you can order it yourself.. but you might not understand how to read it.. For this reason, I suggest you contact a mortgage banker/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893