2nd Tier VA Loan Questions

[John Williams]

I’ll be moving to Clarksville, Tennessee next month. I am trying to purchase a home using the VA Loan when I get there. I already used the VA loan once (~$150K) on my current residence which I intend to keep when I PCS. Can I use the VA loan again to purchase a second home, while retaining my first house? I have one lender who is telling me yes. However, in order to access this “second tier” of the entitlement I must take out a loan for a “MINIMUM” of ~$145k. I thought it was odd that there is a minimum rather than a maximum. I don’t think my lender is really familiar with the second tier of the entitlement. Are there any lenders out there who are familiar with this? Is my current lender correct or are they confused? Thanks!

[Chayson Descisciolo]

The limit has changed, you're at $484,350 now.