VA Loan Tip #22: If a veteran borrower intends to operate a farm business as a major source of income for loan qualification purposes, there's a requirement to show that the business can turn a profit.

VA LOAN RATES

National Averages for New Home Loans
April 24, 2014

30 YEAR FIXED

0.000 points
4.125% / 4.209% APR

15 YEAR FIXED

0.000 points
3.250% / 3.396% APR

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- Veteran Documents -

Certificate of Eligibility
and DD-214

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LOAN PURPOSE

VA Loans to Purchase Farms

VA Loan Tips

A veteran generally cannot get a VA loan to purchase a farm with one notable exception; if the farm has a residence where the veteran intends to live. There is no 'farming requirement' for this kind of purchase, but if the veteran does intend to operate a farm business as a major source of income for loan qualification purposes, it's required to show that the business can turn a profit. There are other options available to veterans who wish to operate a farm.

The Farmers Home Administration does show preference to veterans, and can be used as a way to finance veteran-owned farm operations.


More VA Loan Tips

  1. Entitlement to a VA Home Loan
  2. Advantages to the VA Guaranteed Loan
  3. About VA Loans with Adjustable Rates
  4. Getting Pre-approved for Your VA Loan
  5. Eligibility for a VA Home Loan Guaranty
  6. Your Discharge May Affect Your Chances
  7. I Lost My DD214
  8. For Those Who Already Have a VA Loan
  9. Renewable VA Certificate of Eligibility
  10. VA Loan Partial Eligibility
  11. VA Loans and Rental Properties
  12. VA Loans and Your Debt Ratio
  13. Uses for Your VA Loan
  14. About the VA Funding Fee
  15. Co-signers on VA Loans
  16. The Veterans Benefits Act of 2004
  17. VA Home Loans and Fair Housing Laws
  18. VA Pre-approved but Can't Find a House
  19. VA Loan Foreclosures
  20. Better Credit for Better Eligibility
  21. Help for VA Home Buyers
  22. VA Loans to Purchase Farms
  23. VA Loans for Properties Outside of the US
  24. VA Home Loans After a Borrower's Death
  25. Selling a VA Loan Property
  26. VA Mortgage Payments