In addition to some restrictions on what situations you can use the VA program. So stay tuned and I’ll explain all the ways in which you’ll be prohibited from using the VA program.

The purpose of the VA program is to help veterans purchase homes to live in. Therefore, only loan applications for primary residences will be accepted. VA also excludes second homes/vacation homes from eligible property uses. 

There are some caveats in place to help veterans buy who cannot move into the property right away. For more information on that be sure to watch my video “Do I have to move into the property immediately”.

You are not permitted to use the VA loan to purchase a storefront, office space, or some other non-residential property. VA loans are made strictly for veterans to purchase residential property.

Texas veterans should consider the Texas Veterans Land Board to finance the purchase of vacant land.

Veterans will only be permitted to purchase property in the United States and American territories with the a VA loan.

However, none of the shareholders technically own a specific residence within the unit. They merely own equal shares of the building.

The VA allows lenders to determine what types of properties they will exclude from financing in addition to the property types designated ineligible by the VA. So you may find that if you’re trying to purchase something like a mobile home, barndominium , or an income producing property like a farm, that the lender you’re working with may not be able to help you.

This is another reason why it’s important to work with lenders who don’t have overlays (unique lender-specific rules) on VA loans. The VA’s restrictions are more than enough. You want to be able to use your benefit in the way that you see fit. Afterall…you earned it.

Now that you understand what types of properties you can’t buy with a VA loan. You may be asking what are the property requirements for a VA loan. For that be sure to watch my video “what are the VA minimum property requirements” where I’ll be covering the items you need to look for when selecting a home to purchase with a VA loan.