A veteran with full VA loan entitlement wants to purchase a home for $400,000 in a county where the VA loan limit is $350,000. What is the maximum VA loan amount available without a down payment?
Correct Answer
A) $350,000
With full entitlement, a veteran can borrow up to the VA loan limit for their county without a down payment. Any amount above the loan limit would require a 25% down payment on the excess.
Why This Is the Correct Answer
With full entitlement, a veteran can borrow up to the VA loan limit for their county without a down payment. Any amount above the loan limit would require a 25% down payment on the excess.
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