VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences

va-m26-7-ch11-t11

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences.

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  authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences
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      paragraph_quote: '11. Farm Residences Change Date 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. VA Pamphlet 26-7, Revised Chapter 11: Appraisal Report 11-16'

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences

11. Farm Residences Change Date 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. VA Pamphlet 26-7, Revised Chapter 11: Appraisal Report 11-16

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 11 — Farm Residences · source URL · snapshot faa7d8c84a0580f3