Code of Federal Regulations Title 38. Pensions, Bonuses, and Veterans' Relief § 38.36.4502 Use of guaranty entitlement

The guaranty entitlement of the veteran obtaining a direct loan which is closed on or after February 1, 1988, shall be charged with the lessor of the loan amount or an amount which bears the same ratio to $36,000 as the amount of the loan bears to $33,000. The charge against entitlement of a veteran who obtained a direct loan which was closed prior to the aforesaid date, shall be the amount which would have been charged had the loan been closed subsequent to such date.

(Authority:  38 U.S.C. 3711(d)(2)(A))