Can You Buy a Farm With a VA Loan?

If you’re like many veterans, you need to know whether you can buy a farm with a VA loan. In some cases, you can – but here’s what you need to know.

In many cases, you can use a Department of Veterans Affairs home loan to purchase a farm property. However, the property must have a residence on the land, and the residence must be the veteran’s primary residence. That means you can’t buy farmland without a house on it – or farmland that has a house on it that you don’t intend to live in. Additionally, VA loans are for residences; that means you can’t buy the farm just to run a business.

With that said, keep in mind:

The VA does not limit the number of acres the property can have (provided it has a home on it and that home will be your primary residence).
The value of the property, as appraised, cannot include livestock, crops, or farm equipment and supplies.
You can use your farm income to support the loan payments, but the VA will verify your ability and experience as a farm operator before it will accept your anticipated income.

Related: What is a VA funding fee?

How Can You Get a VA Loan to Buy a Farm?

If the property you want to buy meets the criteria – that is, it has a residence on it and you intend to make the home your primary residence – you can apply for a Certificate of Eligibility through eBenefits. You’ll have to verify your eligibility through the VA, and after you do so, the agency will provide you with a CoE. You then take your CoE to your lender, and your lender will take it from there.

Are You Buying a Home or Land for Sale in Lake City?

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Can You Buy a Farm With a VA Loan?