Can I get a VA loan for a property zoned as commercial if I plan to live there?

Jun 26, 2009 in Commercial Property Loans

The building has a bar operating on the first floor but has two apartments, I would live in one.

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2 comments

novastarga1 on June 26, 2009 at 4:39 pm

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. Remember the VA doesn't actually loan the money. The money comes from a private or public banking institution and is insured by the Veteran's Administration.
Mary B on June 26, 2009 at 4:39 pm

A bank that does residential mortgages won't loan on a commerical property if it's zoned commercial.

The VA won't insure them, but even if you didn't use your VA, you still couldn't do it.

You'll need to seek a commerical loan.

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