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.
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.
Anyone used a VA loan when buying a farm?
Posted - Jan 28 2006 : 06:05:43 AM
