Kentucky VA Farm Loan Guidelines

Farm Loans: Kentucky VA Home Loans Overview

The Department of Veterans Affairs’ (VA) Home Loan benefit may be used to purchase a farm. There must be a farm residence on the land, and the Veteran must live in it as his or her primary residence. VA-guaranteed loans can only be used for residential purposes, and not to purchase a business.

This means that some farm properties may not be eligible for purchase using a VA-backed home loan. General Guidance Loans for farm dwellings are appraised the same way as for nonfarm-type dwellings:

• VA does not limit the number of acres a VA-guaranteed property may have. • The appraisal of properties with acreage should not pose a problem, as long as similar properties in the area were recently sold primarily for residential use. This may include improvements not typically considered residential, like barns, sheds, corrals, stables and pastures.

• For…