{"id":9137,"date":"2020-02-09T07:06:47","date_gmt":"2020-02-09T12:06:47","guid":{"rendered":"http:\/\/teammovemortgage.com\/?p=9137"},"modified":"2020-07-13T22:27:15","modified_gmt":"2020-07-13T22:27:15","slug":"horse-farm","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/horse-farm\/","title":{"rendered":"Can You Buy a Horse Farm With a VA Loan?"},"content":{"rendered":"\r\n

These days, many buyers are looking for a home with a lot of land. Additionally, some buyers are looking to buy a horse farm for sale. What many don’t realize is that you can buy a horse farm with a VA loan! This is especially important for areas like Moore County NC which is horse farm country. Furthermore, the area has a high military and Veteran population. So, VA eligible buyers that are looking to purchase a home with excess acreage plus house their horses, a VA loan is tough to beat. Potentially, no down payment, no monthly mortgage insurance that lowers the payment<\/a><\/strong>, and flexible guidelines make it a great option to buy a farm residence.<\/p>\r\n\r\n\r\n\r\n

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VA Loan Solutions for Horse Farm Residences<\/figcaption>\r\n<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

So whether looking to finance a place to cohabit with your horses or you just want your own private world away from others, a VA loan is a great way to finance this dream home.<\/p>\r\n\r\n\r\n\r\n

Why is it Difficult to Buy a Horse Farm?<\/h3>\r\n\r\n\r\n\r\n

Although in a moment you will see solutions to using a VA loan to buy a large property for horses, there are common hurdles buyers and property owners run into. For buyers, price may be a concern as homes with acreage and extra buildings could cost a lot. For instance, some horse farms have hunt box homes<\/a>. These may make the property unique, yet if there are similar sales it could be possible. Next, many loan programs have acreage limitations such as a 5 or 10 acres maximum.<\/p>\r\n\r\n\r\n\r\n

Use a VA Loan to Buy, Build, or Refi<\/a><\/div>\r\n\r\n\r\n\r\n

Even if the buyer or farm owner qualifies for a mortgage, there is the appraisal. Not only must the property appraise for enough, the appraisal must include recent sales of similar properties. Therefore, a property with 30 acres would need to be compared with other similar sized homes with similar acreage. Fortunately for VA eligible borrowers, VA appraisals<\/a><\/strong> typically allow the appraiser to be flexible in comp distance. Because horse farms are usually in the country and unique, similar sales could be 10, 20, or more miles away.<\/p>\r\n\r\n\r\n\r\n

VA Appraisal Fees Are Higher for Farms<\/a><\/div>\r\n\r\n\r\n\r\n

Finally, the upkeep of a large property must be accounted for. Not only does a horse farm or other home with acreage require extra money, but also it takes up an owner’s time and effort.<\/p>\r\n\r\n\r\n\r\n

Nationwide Horse Farm Lender<\/h2>\r\n\r\n\r\n\r\n

Whether buying a horse farm residence in Texas, North Carolina, Kentucky, or about any state, we underwrite based on the actual VA guidelines. That means using the full acreage as long as the VA appraisal is able to support the value. Throughout the country, there are areas which are known as horse country. One such area is Moore County NC.<\/p>\r\n\r\n\r\n\r\n

Buying a Horse Farm in Moore County NC<\/h2>\r\n\r\n\r\n\r\n

Buying and living in Moore County NC<\/strong><\/a> has so many advantages for active duty military and Veterans.<\/p>\r\n\r\n\r\n\r\n