VA commercial loans: The 504 is a 2 loan structure and it’s value lies in the fact that the 2nd mortgage is fixed for 25 years, although well qualfied borrowers might also be able to get a 25 year fixed rate first mortgage as well. The 504 is for commercial real estate, although it can be used for "long life" equipment.
Learn the ins and outs of purchasing a duplex or multiunit property with a VA Loan. Skip to Content.. Lesson 5.5 Properties You Can Purchase With a VA Loan. Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.
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Best Answer: Sorry but the VA home loan insurance program will not insure a non-residential property. VA loans are only for properties zoned residential and you or your spouse must occupy the property. It is called a VA "home" loan and a property marked for non-residential such as mixed-use or commercial does not qualify.
· Financing with a VA loan covers more property types than homes and condominiums. Qualified veterans and service members can use a VA loan to purchase a property that has up to four one-family units. The occupancy requirements for these types of properties are the same as with single-family units, and a borrower must certify their intent to live.
I am inquiring on behalf of my client if we can do a VA loan for mixed use property. The property is zoned commercial 1.50 acres a commercial building on site in which will be leased to a church congregation and he will owner occupy the residence on the same land. appraised value $237,900.
Recently, prosecutors in New York allege that nearly $500 million in loans, obtained by Morgan executives and. all its inventory-to harbor group international, a Norfolk, Va., real-estate firm,
VA’s guarantee allows the veteran to obtain a competitive interest rate without a down payment. The amount of the loan a veteran can be approved for depends on the property location and entitlement.
VA Veterans Benefits Administration Web Automated Reference Material System Lenders Handbook – VA Pamphlet 26-7 Web Automated Reference Material System Lenders Handbook – VA Pamphlet 26-7