VA loans can be used for ranches, manufactured homes, expert says
SAN ANTONIO – Texas Vet and VA Home Loans specializes in helping active military and Veterans with their home loan needs.
The VA recently increased the amount of funding that a veteran can use to buy a home.
“In January, it went to $424,000 (with no down payment)," Pat Fitzgerald, residential mortgage loan officer, said.
A veteran may use a VA Loan to buy a ranch.
“As long as they live on that ranch, there is really no limit on the amount of acres that they can buy,” Fitzgerald said.
Fitzgerald said a veteran can also decide to use their VA loan to buy a manufactured home. Rules and regulations may apply.
If you need help qualifying for a VA loan, you may have a cosigner.
The Texas Veteran Land Board allows veterans and active military professionals to purchase raw land with their VA Loan.
“Today they will lend up to $150,000 to a veteran or active military person to buy raw land,” Fitzgerald said.
Fitzgerald said to call 210-215-4400 with any questions.
"It doesn’t cost a penny to talk," he said.
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