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A Curious User
2 years ago
I am a retired veteran and found a single family home that I'd like to buy using my eligibility. The listing agent told me that the property for sale sits on 12 acres of land. I have been informed that the VA guidelines would allow me to do this with VA financing. Does anyone know for sure if this is allowed?
 
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Joe Wallace... Answered 307 more questions
2 years ago
In addition to the answer already provided below, I wanted to add that when borrowers are trying to purchase farm residences, similar rules apply--the loan is for the residential value of the property, not the commercial value. So the land issue is, as Jerald says, tied to the residential nature of the purchase.
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Jerald Reichstein... Answered 4 more questions
2 years ago
The VA has no acreage limits as long as the property is not producing income. The problem most associated with large acreage sites is that these properties are generally in rural areas with large lot size variances and little in the way of sales activity.

While each VA lender uses VA guidelines as a minimum standard, they have the right to add an overlay and create their own acreage limits which may reduce the lot size requirements applied to VA loan borrowers.
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My mom recently put her house in my name since I am now paying for it and I was looking to refinance since her credit was poor when she initially purchased the house. I don't have a lot of money to put down but I know my credit is better than hers was originally. Which bank or credit union would be best to look at for low rates?
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A Curious User
2 years ago
I'm shopping around for hurricane coverage for my VA home loan. My agent is asking me if I want a 2%, 3%, 5%, or higher amount of deductible. I would like to know what is acceptible.
I'm shopping around for hurricane coverage for my VA home loan. My agent is asking me if I want a 2%, 3%, 5%, or higher amount of deductible. I would like to know what is acceptible.
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A Curious User
2 years ago
I am an eligible veteran and want to purchase a home in Georgia. I am currently overseas working for a military contractor and want to buy a home where my wife and children currently live. I read that the VA requires the home be owner occupied and wanted to know if there were any exceptions to this rule for family members.
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A Curious User
2 years ago
My husband died from a service connected disability and I'm currently looking to purchase a home. I want to know if I am eligible to use his VA home loan benefits.
My husband died from a service connected disability and I'm currently looking to purchase a home. I want to know if I am eligible to use his VA home loan benefits.
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A Curious User
2 years ago
My wife and I are interested in purchasing a condo unit we have had our eyes on for some time. We want to know if a website exists with up to date information to see if the condominium complex is VA approved.
My wife and I are interested in purchasing a condo unit we have had our eyes on for some time. We want to know if a website exists with up to date information to see if the condominium complex is VA approved.
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