The most common reason to refinance is to save money. Naturally, one of the most common questions then is how much you’ll save by refinancing.

Every situation is different, but let’s run through a couple of scenarios just so you have things to think about. You can put in your own numbers with our refinance calculator.

Let’s say you wanted to pay off your mortgage faster and had $200,000 left on a home worth $250,000. You have 20 years left on your term and want to pay off your home faster. You have excellent credit.

You could refinance into a 15-year conventional fixed mortgage at an interest rate of 3.75% (4.227% APR) and have a monthly payment of $1,454.45. There are $7,057 in closing costs. However, by paying those closing costs and getting that rate you save more than $40,000 in interest.¹

On the other hand, if you were to lengthen your term to lower your payment, you would save every month, but you would end up paying more in interest. It doesn’t work this way in the real world, but let’s keep everything the same except the term. If you had a 3.75% interest rate on a $200,000 loan, because the term is longer, you pay about $30,000 more in interest. In reality, this number is higher because a longer-term loan also means a higher interest rate.

• You’ll have to pay PMI if your down payment is less than 20% of the loan amount.
• The loan qualifications are stricter, requiring a minimum credit score of 620 and lower DTI ratio.

In order to qualify for a VA Loan Lendia needs to obtain your Certificate of Eligibility (COE) in order to prove that you are entitled to VA benefits. Although not needed we might ask for a copy of your DD214 and for you to fill out VA Form 26-1880 (request for COE) which details your service history.

In most cases we are able to obtain the Certificate of Eligibility (COE) through our access to the VA’s WebLGY site without the need for the items above.

How can a Veteran obtain the Certificate of Eligibility

1. Obtain a Copy of your Certificate of Eligibility through Lendia Click here to obtain a Certificate of Eligibility
2. Call Lendia at 949-333-4636 and speak to a VA Loan specialist
3. Apply online though the VA Portal
4. Apply by Mail by completing VA Form 26-1880 (request for certificate of eligibility)

If you have any questions about the Certificate of Eligibility, DD-214, or VA Form 26-1880 call 949-333-4636 and a Lendia VA Loan specialist will assist you or complete the request online.

What do I need to obtain a Certificate of Eligibility?

• If you are a Veteran, a current or former National Guard, or Reserve member who has been activated Federal active service you will need a copy of your DD-214 in order for the certificate of eligibility to be issued.
• If you are an Active Duty Service member you need a current statement of service:
  • Signed by (or by the direction of): The adjutant, personnel office, or commander of the unit or higher headquarters
  • Showing: Your full name, Social Security Number, Date of birth, Entry date on active duty, The duration of any lost time, The name of the command providing the information
• If you are a Current National Guard or Reserve member who has neverbeen Federal active service you need a Statement of Service:
  • Signed by (or by the direction of): The adjutant, personnel officer or commander of your unit or higher headquarters
  • Showing: Your full name, Social Security Number, Date of birth, Entry date on duty, The total number of creditable years of service, The duration of any lost time, The name of the command providing the information
• If you are a Discharged member of the National Guard who has neverbeen activated for Federal active service
  • NGB Form 22, Report of Separation and Record of Service, for each period of National Guard service -OR- NGB Form 23, Retirement Points Accounting, and proof of the character of service
• If you are a Discharged member of the Selected Reserve who has never been activated for Federal active service
  • Copy of your latest annual retirement points statement and evidence of honorable service
• If you are a Surviving Spouse in Receipt of DIC (Dependency & Indemnity Compensation) benefits
  • Submit VA form 26-1817 and veteran’s DD214( if available)
  • Include veteran’s and surviving spouse’s social security number on the26-1817 form
• If you are a Surviving Spouse and are not receiving DIC (Dependency & Indemnity Compensation) benefits
  • Submit the following to the appropriate Compensation and Pension office: VA Form 21-534, DD214 (if available), Marriage License, Death Certificate or DD Form 1300– Report of Casualty

When you set up a mortgage, there are various associated costs you have to think about. Among the costs you can expect to pay are origination fees. These vary from lender to lender and depend on the type of loan you get. Other costs include:

• Appraisal fees
• Mortgage discount points
• Prepaid tax
• Insurance payments (combined with prepaid taxes to set up an escrow account)
• Any title insurance changes that may be necessary
• Loan origination fee
• Any upfront fees or payments for mortgage insurance if you have it

A conventional loan is a great option if you have a solid credit score and little debt. You can avoid PMI by paying 20% of the loan upfront, which will lower your mortgage payments.

If you’re unable to make a large payment upfront, conventional loans are available with a down payment as low as 3%. In most cases, borrowers save money in the long run with a conventional loan because there’s no upfront mortgage insurance fee and the monthly insurance payments are cheaper.

The VA Streamline IRRRL Refinance Program offered by Lendia is a powerful program that allows eligible veterans to refinance their home with no appraisal, no income or asset documentation.  An IRRRL is a VA-guaranteed loan made to refinance an existing VA-guaranteed loan, generally at a lower interest rate than the existing VA loan, and with lower principal and interest payments than the existing VA loan.

The only solid requirement needed is that you must have a current VA Loan in order to be eligible for the program. It comes with the standard VA Funding Fee of 0.5% which is waived for eligible veterans who are exempt from it.

VA Homeowners can choose to roll the closing costs and fees into the balance of the loan and still manage to save on their monthly payments and this way they avoid out-of-pocket costs. Lendia’s VA Streamline IRRRL Refinance Program does not leave the homeowner paying any fees at close of escrow. An added bonus is you get refunded your existing impound account monies at close of escrow from your existing servicer since we will set up a new impound account at closing.

What are Lendia’s Requirements for a VA Streamline Refinance?

Lendia’s VA Streamline IRRRL Program does not require an appraisal, income or asset documentation!

Lendia’s VA Streamline IRRRL Refinance Borrower Eligibility Requirements:

Generally, the party(ies) obligated on the original loan must be the same on the new loan (and the veteran must still own the property). It is at the discretion of Lendia to require credit qualification in the cases where the obligor changes.

The following table has been provided as a guide to help determine when a change in obligor may or may not be acceptable.  Final determination of the acceptability is at the discretion of Lendia.

Lendia’s VA Streamline IRRRL Refinance (Loan Amount, Credit Score and Loan to Value (LTV)) Requirements:

• For Loan Amounts ≤ $484,350, Lendia’s Minimum FICO Score is 600
• For Loan Amounts > $484,350 and < $1,000,000, Lendia’s Minimum FICO Score is 620
• Lendia Offers Mega Jumbo VA IRRRL with loan amounts as high as $3,000,000. Lendia’s minimum FICO for this program is 640
• The new loan must have a closing date that is at least 6 months from the old note date and the veteran cannot have been 30 days late during that 6 month period.
• If borrower is 30 day past due in last 6 months, then Lendia requires that the borrower’s ability to repay be verified by supplying income documentation. Note: Mortgage must remain current during application period and up to closing.
• Maximum loan amount for a VA IRRRL is

• Existing VA loan balances plus

• Late payments and late charges, plus

• Allowable fees and charges (includes up to two discount points), plus

• The VA funding fee

• Maximum Loan Term: The maximum loan term is the original term of the VA loan being refinanced plus 10 years, but not to exceed 30 years and 32 days. For example, if the old loan was made with a 15-year term, the term of the new loan cannot exceed 25 years

Lendia’s VA Streamline IRRRL Refinance VA Funding Fee Requirements:

The funding fee for Lendia’s VA Streamline IRRRL Program is a flat 0.5%

Lendia’s VA Streamline IRRRL Refinance Exemptions from Funding Fee Requirements:

The following individuals are exempt from the Funding Fee:

1. Veterans that are receiving compensation for service connected VA disability;
2. Veterans who would be entitled to receive compensation for service-connected disabilities if they did not receive retirement pay;
3. Surviving spouses of veterans who died in service or from service-connected disabilities (whether or not such surviving spouses are veterans with their own entitlement and whether or not they are using their own entitlement on the loan);
4. Veterans still on active awaiting discharge and who were rated eligible to receive compensation as a result of a pre-discharge disability examination and rating will be considered as receiving compensation as of that date; and
5. Veterans entitled to receive VA compensation for service-connected disabilities, but who are not presently in receipt because they are on active duty.

Lendia’s VA Streamline IRRRL Refinance Occupancy Requirements:

• For Owner Occupied Properties: The borrower(s) have to occupy the property as their primary residence to be eligible for a VA Streamline IRRRL Refinance with Lendia and utilize the minimum 600 FICO requirement.
• If the property is no longer owner occupied and is an investment property the minimum acceptable FICO score is 620 and the veteran or the spouse of an active service member must certify that he or she previously occupied the property as his or her home.

Lendia’s VA Streamline IRRRL Refinance Appraisal Requirements:

Lendia does not require an appraisal on VA Streamline IRRRL Refinances although we do run our own Automatic Valuation Models (AVMs) or in some instances we might request an exterior drive by appraisal of the property.

Lendia’s VA Streamline IRRRL Refinance Income and Liability Requirements:

Lendia does not require income verification on a VA Streamline IRRRL Refinance except in the following scenarios:

• The Term of the loan decreased whereby the new PITI payment is 20% higher than the existing PITI payment
• The payment increased by more than 20% since the borrower was refinancing from a lower rate ARM to a fixed rate product.
• In the event that the borrower has mortgage lates in the 6 months preceding the IRRRL refinance Lendia requires that the income be verified to ensure that the borrower has the ability to re-pay.
• If the recoupment period for the refinance is between 61 months and 120 months then Lendia’s ability to repay has to be excercised

Lendia accepts the following types of income sources:

• Salaried Borrower / Wage earner
• Self Employed Borrower
• Military / Active Duty
• Part time / second job and Seasonal Employment income
• Rental Income
• Alimony / Child support
• Unemployment benefits income
• Social Security income
• Retirement, Government, Annuity and Pension income
• Disability income
• Foster Care income
• Interest and Dividends income
• Capital Gains income
• Notes receivable income
• Tip income
• Trust income

Lendia’s VA Streamline IRRRL Refinance Property Requirements

No Termite Inspection and clearance is required for any property type for closing a Lendia VA Streamline Refinance IRRRL loan.

NOTE: Properties can not be vested in the name of irrevocable trust

Ineligible properties or collateral:

• Mobile Homes
• Mixed Use properties
• Multi family properties with more than 4 units
• Manufactured condos
• Bed and Breakfast properties
• Agricultural-type properties (such as farms, orchards or ranches) where income is being produced from the property

Lendia’s VA Streamline IRRRL Refinance Residual Income Requirements:

Residual income is the amount of net income remaining (after deduction of debts and obligations and monthly shelter expenses) to cover family living expenses such as food, health care, clothing, and gasoline. The numbers are based on data supplied in the Consumer Expenditures Survey (CES) published by the Department of Labor’s Bureau of Labor Statistics. They vary according to loan size, family size, and region of the country Count all members of the household (without regard to the nature of the relationship) when determining “family size,” including:

• An applicant’s spouse who is not joining in title or on the note, and
• Any other individuals who depend on the applicant for support. For example, children from a spouse’s prior marriage who are not t he applicant’s legal dependents.

Any individual from “family size” who isfully supported from a source of verified income which, for whatever reason, is not included in effective income in the loan analysis can be omitted. For example:

• A spouse not obligated on the note who has stable and reliable income sufficient to support his or her living expenses, or
• A child for whom sufficient foster care payments or child support is received regularly.

The residual income figure (from the following tables) is reduced by a minimum of five percent if:

• The applicant or spouse is an active-duty or retired serviceperson, and
• There is a clear indication that he or she will continue to receive the benefits resulting from use of military-based facilities located near the property.

Residual Incomes by Geographic Region for loan Amounts $79,999 and below

Residual Incomes by Geographic Region  for Loan Amounts of $80,000 and above

Key to Residual Income Geographic Regions

For credit qualifying VA Streamline IRRRL refinances where the borrower has to show income that are either due to high recoupment period, or if the PITI increased by more than 20% then an income ratio of 41% but less than 50% will require 120% of the VA’s residual income requirement.

Lendia’s VA Streamline IRRRL Refinance Escrow Account / Impound Account Requirements:

Lendia requires an escrow account or impound account to be set up at closing. This is always required on VA loans regardless of Loan to Value (LTV).

What documents do I need for a VA Streamline IRRRL Refinance?

Personal Information

• Your basic information like name, address, and phone number
• Previous addresses for the past 2 years
• Dates of birth and years of school completed
• Social Security numbers for all loan applicants – required for checking credit
• Copy of valid ID such as a driver’s license or government ID
• Number and age of dependents

Employment and Income

For Non-Credit Qualifying VA IRRRLs

• Name, address, phone number, and dates of employment for all employers over the last 2 years

For Credit Qualifying VA IRRRLs

• 30 days’ worth of paystubs
• Last 2 years’ W2s and federal tax returns (1040’s)
• If self employed: Last 2 years federal tax returns with all schedules (if you have commission or rental income to qualify, you will also need to provide tax returns)
• Copies of social security, pension, and/or retirement award letters and corresponding 1099s (if you receive this type of income)
• Divorce decree and settlement paperwork (if applicable)

Assets

For Non-Credit Qualifying VA IRRRLs

• NONE

For Credit Qualifying VA IRRRLs

• 2 Months bank statements for checking and savings accounts
• 2 Months statements for retirement accounts
• Real estate currently owned, if any

Property

• Name and contact information for the homeowner’s insurance agent or a copy of the insurance declaration page
• Name and phone number for the homeowner’s association, if applicable

Credit/Liabilities

For Non-Credit Qualifying VA IRRRLs

• See Fico requirements above

For Credit Qualifying VA IRRRLs

• General knowledge of your current credit card, student loan, auto loan, and other credit accounts. Lendia will pull a credit report that shows your accounts, but on occasion, the information may be outdated, missing, or erroneous.
• Amount paid each month in child care
• Explanation for derogatory credit (if applicable)
• Bankruptcy and discharge paperwork (if applicable)
• Documentation disproving any erroneous items on your credit report

Still have questions? You can find out more by calling Lendia at 949-333-4636. Our licensed VA mortgage professionals will guide you through the process.

Complete a simple contact form, and we’ll get in touch with you today.

PMI is a type of mortgage insurance unique to conventional loans. Like mortgage insurance premiums do for FHA loans, PMI protects the lender if the borrower defaults on the loan.

You’ll have to pay PMI as part of your mortgage payment if your down payment was less than 20% of the home’s value. However, you can request to remove PMI when you have 20% equity in the home. Once you’ve reached 22% home equity, PMI is often removed from your mortgage payment automatically.

Unlike mortgage insurance for FHA loans, PMI offers different payment options. Borrower-paid PMI, or BPMI, does not require an upfront cost, and depending on the lender, you can request to have it canceled once you’ve reached 20% equity in your home. In most cases, it’s automatically removed once you’ve reached 22% equity.

Lender-paid PMI, or LPMI, is paid for you by your lender. The lender will raise your mortgage interest rate in order to incorporate the insurance payment they make on your behalf. This option may result in lower payments but is typically not cheaper over the life of the loan. LPMI cannot be canceled because it’s built into your interest rate.

What is a VA Cash Out Refinance?

The VA Cash out Refinance Program offered exclusively by Lendia is a powerful program that allows eligible veterans to refinance their home and obtain cash out to 100% of the value of the home.

The following scenarios outlined below define what is considered to be a VA Cash Out Refinance transaction:

• Homeowner currently has a VA loan and wishes to refinance and get cash out for whatever reason they want
• Homeowner currently has a (conventional loan, FHA loan or other loan type), is VA Eligible,  and wants to refinance into a No mortgage insurance VA Loan
  • Borrower can get additional cash out during this type of VA refinance
  • Borrower can just convert his exiting loan into a VA loan with no cash proceeds at closing to take advantage of the lower VA rates and added advantage of no mortgage insurance
• Homeowner must have an existing lien. Property can not be owned free and clear.

To avoid out-of-pocket costs in any of the scenarios discussed above, homeowners can choose to roll the closing costs and fees into the balance of the loan and still manage to save on their monthly payments.

What are Lendia’s Requirements for a VA Cash Out Refinance?

Lendia’s VA Cash Out Program allows Cash Out to 100% of the Value of the property!

Lendia’s VA Cash Out Refinance (Loan Amount, Credit Score and Loan to Value (LTV)) Requirements:

• For Loan Amounts ≤ $484,350, Lendia’s Minimum FICO Score is 600 and the maximum cash out allowed is to 100% of the property’s value
• For Loan Amounts > $484,350, Lendia’s Minimum FICO Score is 620 and the maximum cash out allowed is to 100% of the property’s value

Lendia’s VA Cash Out Refinance VA Funding Fee Requirements:

• Regular Military First Time Use 2.15%
• Regular Military Subsequent Use 3.30%
• Reservist/National Guard First Time Use 2.40%
• Reservist/National Guard Subsequent Use 3.30%

Lendia’s VA Cash Out Refinance Exemptions from Funding Fee Requirements:

The following individuals are exempt from the Funding Fee:

1. Veterans that are receiving compensation for service connected VA disability;
2. Veterans who would be entitled to receive compensation for service-connected disabilities if they did not receive retirement pay;
3. Surviving spouses of veterans who died in service or from service-connected disabilities (whether or not such surviving spouses are veterans with their own entitlement and whether or not they are using their own entitlement on the loan);
4. Veterans still on active awaiting discharge and who were rated eligible to receive compensation as a result of a pre-discharge disability examination and rating will be considered as receiving compensation as of that date; and
5. Veterans entitled to receive VA compensation for service-connected disabilities, but who are not presently in receipt because they are on active duty.

Lendia’s VA Cash Out Refinance Occupancy Requirements:

The borrower(s) have to occupy the property as their primary residence to be eligible for a VA Cash Out Refinance with Lendia

Lendia’s VA Cash Out Refinance Appraisal Requirements:

Lendia will order appraisals directly via VA’s “The Appraisal System” also known as TAS. Lendia will accept transferred appraisals as long as they were ordered through TAS and must comply with the standards and practices established by the Uniform Standards of Professional Appraisals Practice (USPAP).

Lendia’s VA Cash Out Refinance Income and Liability Requirements:

To qualify for a Lendia VA Cash Out refinance the borrower(s) income and liabilities have to be examined and analyzed. The typical debt to income ratio (DTI) on a transaction for a VA Loan is 41%, for anything above that the borrower has to meet the VA residual income requirements discussed below. At Lendia we have experienced cases where this ratio was as high as 60%, but since the borrower met the VA residual income requirements and had other compensating factors to allow for such a high ratio the loan was approved. So we will not stress this point as there is not a magic number or threshold and it all depends on what the AUS findings are and the particular situation is.

Lendia accepts the following types of income sources:

• Salaried Borrower / Wage earner
• Self Employed Borrower
• Military / Active Duty
• Part time / second job and Seasonal Employment income
• Rental Income
• Alimony / Child support
• Unemployment benefits income
• Social Security income
• Retirement, Government, Annuity and Pension income
• Disability income
• Foster Care income
• Interest and Dividends income
• Capital Gains income
• Notes receivable income
• Tip income
• Trust income

Lendia’s VA Cash Out Refinance Property Requirements

• For veterans who already have a VA Loan and are looking to refinance and get Cash out it is important to note that the property has to meet VA Minimum Property Requirements (MPRs). The MPRs provide a basis for determining that the property is
  • Safe, structurally sound and sanitary, and
  • Meets the standards considered acceptable in a permanent home in its location

** It is important to note that Termite Inspection and clearance is a requirement on any property type for closing a Lendia VA Cash Out Refinance loan.

• For eligible veterans , servicemen & service women who do not currently have a VA Loan and wish to refinance into a VA loan the following is a list of eligible and ineligible property types that Lendia can fund on.
  • Single Family Dwellings, including townhomes and row homes
  • 2-4 Family Dwellings
  • Condominiums and Site Condominiums – For Condos the project has to be approved
  • Planned Unit Developments (PUD)
  • Doublewide Manufactured Housing – acceptable only if it has characteristics of site built housing and is legally classified as real property and confirms to all local building codes in the jurisdiction in which they are permanently located.
  • New Construction – need 1 year builder warranty and 10 year protection plan
  • Properties on leased land (need lease approved)

NOTE: Properties can not be vested in the name of irrevocable trust

Ineligible properties or collateral:

• Mobile Homes
• Mixed Use properties
• Multi family properties with more than 4 units
• Manufactured condos
• Bed and Breakfast properties
• Agricultural-type properties (such as farms, orchards or ranches) where income is being produced from the property

Lendia’s VA Cash Out Refinance Residual Income Requirements:

Residual income is the amount of net income remaining (after deduction of debts and obligations and monthly shelter expenses) to cover family living expenses such as food, health care, clothing, and gasoline. The numbers are based on data supplied in the Consumer Expenditures Survey (CES) published by the Department of Labor’s Bureau of Labor Statistics. They vary according to loan size, family size, and region of the country Count all members of the household (without regard to the nature of the relationship) when determining “family size,” including:

• An applicant’s spouse who is not joining in title or on the note, and
• Any other individuals who depend on the applicant for support. For example, children from a spouse’s prior marriage who are not t he applicant’s legal dependents.

Any individual from “family size” who is fully supported from a source of verified income which, for whatever reason, is not included in effective income in the loan analysis can be omitted. For example:

• A spouse not obligated on the note who has stable and reliable income sufficient to support his or her living expenses, or
• A child for whom sufficient foster care payments or child support is received regularly.

The residual income figure (from the following tables) is reduced by a minimum of five percent if:

• The applicant or spouse is an active-duty or retired serviceperson, and
• There is a clear indication that he or she will continue to receive the benefits resulting from use of military-based facilities located near the property.

Residual Incomes by Geographic Region for loan Amounts $79,999 and below

Residual Incomes by Geographic Region  for Loan Amounts of $80,000 and above

Key to Residual Income Geographic Regions

Lendia’s VA Cash Out Refinance Escrow Account / Impound Account Requirements:

Lendia requires an escrow account or impound account to be set up at closing will always be required on VA loans regardless of Loan to Value (LTV).

What documents do I need for a VA Cash Out Refinance?

Personal Information

• Your basic information like name, address, and phone number
• Previous addresses for the past 2 years
• Dates of birth and years of school completed
• Social Security numbers for all loan applicants – required for checking credit
• Copy of valid ID such as a driver’s license or government ID
• Number and age of dependents

Employment and Income

• Name, address, phone number, and dates of employment for all employers over the last 2 years
• 30 days’ worth of paystubs
• Last 2 years’ W2s and federal tax returns (1040’s)
• If self employed: Last 2 years federal tax returns with all schedules (if you have commission or rental income to qualify, you will also need to provide tax returns)
• Copies of social security, pension, and/or retirement award letters and corresponding 1099s (if you receive this type of income)
• Divorce decree and settlement paperwork (if applicable)

Assets

• 2 Months bank statements for checking and savings accounts
• 2 Months statements for retirement accounts
• Real estate currently owned, if any

Note: Assets might be needed if the debt to income ratio is high

Property

• Appraisal showing a value of at least the amount you need to borrower (your Lendia loan officer will order this)
• Name and contact information for the homeowner’s insurance agent or a copy of the insurance declaration page
• Name and phone number for the homeowner’s association, if applicable

Credit/Liabilities

• General knowledge of your current credit card, student loan, auto loan, and other credit accounts. Lendia will pull a credit report that shows your accounts, but on occasion, the information may be outdated, missing, or erroneous.
• Amount paid each month in child care
• Explanation for derogatory credit (if applicable)
• Bankruptcy and discharge paperwork (if applicable)
• Documentation disproving any erroneous items on your credit report

Still have questions? You can find out more by calling Lendia at 949-333-4636. Our licensed VA mortgage professionals will guide you through the process.

Complete a simple contact form, and we’ll get in touch with you today.

A VA Loan is a mortgage loan that is guaranteed by the United States Department of Veteran’s Affairs (VA). It was introduced in 1944 Serviceman’s Readjustment Act or GI Bill (and was later amended). Under the law, as amended, the VA is authorized to guarantee loans made to veterans by lending institutions including us at Lendia. The Veteran’s Administration (VA) does not make VA loans it only guarantees part of the loan. The VA loan program comes with huge advantages and has been instrumental in securing financing for service members.

When you are applying for VA Home Loan with Lendia one of the first things we obtain is your Certificate of Eligibility (COE). The certificate of eligibility will provide us with a VA guaranty amount that in most cases is $36,000. It also contains a code referred to as Entitlement Code. Below we explain what the entitlement codes mean and how the entitlement amount dictates how much you can borrow. If the

What does the VA Entitlement Code Tell You

The entitlement codes describe the veteran’s specific military service time period which in turn determine the veteran’s eligibility. The table below illustrates what each code represents and the one right under it specifies the time period that the event took place.

Most VA entitlement codes correspond with certain wartime and peacetime date ranges. The VA is very specific – down to the day – on dates of service, and the period in which the service was completed.

Here is more information on time period designations.

Certain VA entitlement codes describe ways in which service members and others are eligible.