VA Loan Eligability

[Damon Aniton]

So I am trying to see if I understand my options properly.

Assuming income and credit qualify. The maximum VA loan limit eligibility is roughly 726k. I took a loan of 479K. That is a difference of 247k.

That means if I buy a 2nd residence in another city/state that will be my new primary residence I would be eligible to buy that new up at or below the 247k price with 0 down. Or a down payment of anything over that to bring me to the 20-25% down to bridge the gap in the remaining VA guarantee.

Am I understanding this correctly?