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Zoning - A veteran currently has a VA loan. The property is zoned commercial and was when the veteran obtained the first VA loan 7 years ago. Can the veteran still qualify for a streamline regardless of the commercial zoning? It also has

Published 08/09/2012 12:46 PM   |    Updated 08/09/2012 12:46 PM
A veteran currently has a VA loan.  The property is zoned commercial and was when the veteran obtained the first VA loan 7 years ago.  Can the veteran still qualify for a streamline regardless of the commercial zoning?  It also has an antique store on the first floor, which the veteran runs.
If the veteran is refinancing to lower the interest rate and is receiving no money back, then no appraisal is required and no minimum property requirements will be made.  Thus, he would qualify for a refinance loan in spite of the commercial zoning and the antique store on the first floor.  If an appraisal is required by VA, then minimum property requirements must be met.