subsequent loan
(4) For the purposes of paragraph (2): (A) The term “active duty veteran” means any veteran eligible for the benefits of this chapter other than a Reservist. (B) The term “Reservist” means a veteran described in section 3701(b)(5)(A) of this title who is eligible under section 3702(a)(2)(E) of this title . (C) The term “other obligor” means a person who is not a veteran, as defined in section 101 of this title or other provision of this chapter. (D) (i) The term “initial loan” means a loan to a veteran guaranteed under section 3710 or made under section 3711 of this title if the veteran has never obtained a loan guaranteed under section 3710 or made under section 3711 of this title . (ii) If a veteran has obtained a loan guaranteed under section 3710 or made under section 3711 of this title and the dwelling securing such loan was substantially damaged or destroyed by a major disaster declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5170 ), the Secretary shall treat as an initial loan, as defined in clause (i), the next loan the Secretary guarantees or makes to such veteran under section 3710 or 3711, respectively, if— (I) such loan is guaranteed or made before the date that is three years after the date on which the dwelling was substantially damaged or destroyed; and (II) such loan is only for repairs or construction of the dwelling, as determined by the Secretary. (E) The term “subsequent loan” means a loan to a veteran, other than an interest rate reduction refinancing loan, guaranteed under section 3710 or made under section 3711 of this title that is not an initial loan. (F) The term “interest rate reduction refinancing loan” means a loan described in section 3710(a)(8) , 3710(a)(9)(B)(i) , 3710(a)(11) , 3712(a)(1)(F) , or 3762(h) of this title . (G) The term “0-down” means a downpayment, if any, of less than 5 percent of the total purchase price or construction cost of the dwelling. (H) The term “5-down” means a downpayment of at least 5 percent or more, but less than 10 percent, of the total purchase price or construction cost of the dwelling. (I) The term “10-down” means a downpayment of 10 percent or more of the total purchase price or construction cost of the dwelling.
Source
38 USC § 3729(b)(4)
Scoping language
None identified, default scope is assumed to be the parent (subchapter III) of this section.