A veteran has $36,000 in remaining VA entitlement. In most counties, what is the maximum loan the VA will guarantee without a down payment?

Correct answer: $144,000

The VA guarantees up to 25% of the loan, and lenders typically require the guarantee to cover 25% of the purchase price to avoid a down payment. Basic entitlement is $36,000, which guarantees loans up to $144,000 ($36,000 × 4 = $144,000). Above this threshold, bonus entitlement applies. The guarantee amount itself is $36,000, not the loan amount. $181,000 and $250,000 are not derived from this entitlement calculation.