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Can I buy property with a USDA loan if it was --formerly-- farmed? I will not be using for commercial puproses

by leon_bd1902828 from Ramona, California. Jan 15th 2015 Reply


Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

It will depend on the availability of comparable acreage properties in the area.

Jan 15th 2015
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Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,250 contributions

how many acres ?? how much?? if you want to send me the address, I will see if it is available on a USDA loan .. email to yourloanpartnerforlife@live.com linda

Jan 15th 2015
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Chris Neuswanger (mtnmortgageguy)
#94 ranked lender in Colorado - 84 contributions

Agree if the comps are there, and I assume there is a home on the property you would be occupying? USDA does not work for just buying land.

Jan 16th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

It really depends on the appraisal and comparable properties.. Whether or not a property was used for farming in the past will have little effect.. but if all the properties in your area are about the same size and some have sold recently, then it's possible.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 16th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

As you see from other answers, it really depends on the details of the property

Jan 16th 2015
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