The VA does in fact have restrictions on home loans. the house on the property must be at least 60% of the loan value or appraised value, i dont remember which. keep in mind that a VA home loan is nothing more than gov backing a bank loan only looser credit restrictions and 0 money going in.
I think your best bet would be going to your local Farm Service Agency, FSA, they have beginner programs up to 300K. Like any govn agency you will jump through a few hoops and they will have yearly requirements of you, but its a way to get started with little or no money, one of their requirements is you have to show a background in farming/ranching. If you dont have a way to show income from farming in the last ten years, they will accept a letter from someone who does, but that letter has to show how you have been involved in farming/ranching, thats easy enough to write, your grandpa could probably write it. Be warned though, its a funded program, so if nobody has used their program they probably have money in it, if not, you have to wait for it to be funded again. the other option i can think of is finding your local Frontier Farm Credit branch and talking to them. You might have to have money going in but they are a self funded Co-op so their lending terms are set internally.
I thought the first farm was tough to get, what i found out was the second one is much harder - HAHA
Good luck, if you have any other questions your welcome to email me
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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