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Topic 11. Farm Residences
February 22, 2019
This Chapter has been revised in its entirety.
a. Farm Residence is an Eligible Property
Although VA does not make farm or other business loans, Veterans may use their VA home loan benefit to purchase a property on which there is a farm residence.
b. No Limit on Number of Acres
VA does not set a limit on the number of acres which the property may have. The appraisal of properties with acreage should not present difficulties if similar properties in the area were recently sold primarily for residential use.
c. Residential Purposes Considered in Valuation
Improvements not typically considered residential, for example, barns, corrals, or stables, must be valued by the appraiser as they contribute to the market value of the property for residential purposes only. The appraiser must not include in value any livestock, crops, or farm equipment.