Example: Mike enlisted in 1992, and served 90 days on active duty. At that point, he became eligible and used his home loan benefit. However, he was discharged for misconduct after having served just 18 months. His COS was Under Honorable Conditions. Therefore, while Mike was once eligible and received a valid COE, he is no longer eligible since he did not complete the required 24 months of service. 9. Entitlement Background Information a. History of Use this as a reference to determine the maximum amount of entitlement Entitlement authorized by law during any particular period of time. Maximums Maximum Entitlement Beginning Date $2,000 June 22, 1944 $4,000 December 28, 1945 $7,500 July 12, 1950 $12,500 May 7, 1968 $17,500 December 31, 1974 $25,000 October 1, 1978 $27,500 October 1, 1980 $36,000 February 1, 1988 $36,000 or December 18, 1989 $46,000 for certain loans greater than $144,000 $36,000 or October 13, 1994 $50,750 for certain loans greater than $144,000 $36,000 or December 27, 2001 $60,000 for certain loans greater than $144,000 $36,000 or December 10, 2004 25% of Federal Home Loan Mortgage Corporation (FHLMC) Conforming Limits
Example: Mike enlisted in 1992, and served 90 days on active duty. At that point, he became eligible and used his home loan benefit. However, he was discharged for misconduct after having served just 18 months. His COS was Under Honorable Conditions. Therefore, while Mike was once eligible and received a valid COE, he is no longer eligible since he did not complete the required 24 months of service. 9. Entitlement Background Information a. History of Entitlement Maximums Use this as a reference to determine the maximum amount of entitlement authorized by law during any particular period of time. Maximum Entitlement Beginning Date $2,000 June 22, 1944 $4,000 December 28, 1945 $7,500 July 12, 1950 $12,500 May 7, 1968 $17,500 December 31, 1974 $25,000 October 1, 1978 $27,500 October 1, 1980 $36,000 February 1, 1988 $36,000 or $46,000 for certain loans greater than $144,000 December 18, 1989 $36,000 or $50,750 for certain loans greater than $144,000 October 13, 1994 $36,000 or $60,000 for certain loans greater than $144,000 December 27, 2001 $36,000 or 25% of Federal Home Loan Mortgage Corporation (FHLMC) Conforming Limits December 10, 2004