A reader asks, "I would like to get a va loan to purchase a 350 acre farm. Is it possible or not? I have heard yes and no.... the farm already has a house on it." The VA loan rulebook covers this issue in Chapter Seven. According to the VA Lender's Handbook;
"A loan for the purchase, construction, repair, alteration, or improvement of a farm residence which is occupied or will be occupied by the veteran as a home is eligible for guaranty."
So the technical answer to this question is "yes" but with a set of conditions the borrower should definitely know...
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