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Updated about 10 years ago on . Most recent reply

User Stats

125
Posts
86
Votes
Brendan M.
  • New to Real Estate
  • Colorado Springs, CO
86
Votes |
125
Posts

VA Loan for Rezoned Multifamily Property

Brendan M.
  • New to Real Estate
  • Colorado Springs, CO
Posted

According to this post, VA loans can be used to secure commercial property if it was originally zoned to be residential, which is great news. That said, the example in the above post is still less than 4-units, which is the VA's cut-off for residential to commercial. Does anyone know if a property that was originally zoned residential but rezoned to commercial, but has 5+ units is eligible for VA, assuming all other eligibility guidelines are met?

For anyone interested, here's the legal document governing the VA Loan Guaranty Program, I tried interpreting it in light of the above information, but I'm really not that great at interpreting legal speak.

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