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

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

3 Answers

  • 1 decade ago
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    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.

    Source(s): I am Director of Operations for a mortgage lender.
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  • Anonymous
    7 years ago

    Yes, within certain guidelines.

    The VA specifies that any non-residential use of the property must be subordinate to the residential use.

    Additionally, the single family residence must be a permitted use within the way it is zoned. The county the home is in can determine this for you, and the VA will require a rebuild letter.

    I am a veteran who just used a VA mortgage for a home zoned commercial low density in Brunswick county! NC. It took some extra legwork but is VERY worth it!

    Suggest you look directly to the VA's website for the guidelines, as I found that the mortgage lender I used, despite claiming otherwise, was less familiar with the guidelines than I was. Also, make sure the secondary investor that they will sell the loan to accepts the zoning. My mortgage is now with Chase.

    Good luck!

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  • 1 decade ago

    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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