| T O P I C R E V I E W |
| happymama58 |
Posted - Jan 28 2006 : 06:05:43 AM
We talked to a loan officer & she said that the VA has a rule that the house has to be worth a certain percentage (forget what it is) of the loan value. In other words, the VA doesn't loan on "farms" per se. That creates a problem for us. Has anyone here used a VA loan to purchase their farm?
Are there any other "nothing down" types of loans you can use to buy a farm? I'm thinking of an older house and 10 acres or so. Thanks for any help!
Some people search for happiness; others create it. |
| 2 L A T E S T R E P L I E S (Newest First) |
| happymama58 |
Posted - Jan 28 2006 : 12:19:23 PM
We didn't know there was such a thing as a VA construction loan! Thanks so much for mentioning that. I learn new stuff here every day 
Some people search for happiness; others create it. |
| AnnieT |
Posted - Jan 28 2006 : 11:13:13 AM
Patti, we are also looking into the VA loans. DH is getting out of the Marine Corps in March. Don't forget that you can also get a VA constuction loan to build a house on vacant property you buy. I haven't looked into it much yet, but it's an option.
Annie
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