Updated over 5 years ago on . Most recent reply
2nd VA Loan Down Payment
I may be purchasing a new primary residence with my remaining VA loan entitlement. I just received my COE and it shows the first property (now a rental) purchased with a VA loan is using $90,083 of my entitlement. I live in a county with a $765,600 limit.
The new primary residence is $630k. How do I determine what amount of a down payment would be required in order to use the VA loan. I know 25% of the amount over your VA guaranty must be paid, but how do I determine what that amount is? I had planned to put 10% down in order to lower the VA funding fee, but not sure if that is all that I would need to put down.