How does the Veterans Home Loan work from the VA?
I am having trouble understanding the process of buying a home using the VA loan. I have received a certificate of eligibility that states:
"The veteran is eligible for the benefits of Chapter 37, Title 38, U.S. Code, subject to any condition(s) cited below. Basic entitlement for veterans who have not previously used home loan benefits is $36,000. Additional entitlement is available for most loans in excess of $144,000. In such cases, the entitlement amount is 25% of the VA loan limit for the county where the property is located."
I am just testing the waters but I am trying to understand what I use this certificate for and what the next few steps would look like in possibly purchasing a home in the future. Thanks for any help.