Struggling with this one a bit. We have a loan to purchase 60 acres of farmland and a house with the purpose of real estate investment - will not be used for farming by borrower. GIR defines a farm loan as a loan to purchase property used primarily for agricultural purchases. This property is ag property but will not be used by this borrower for that purpose - report as purchase or stick with the fact that the property itself if ag property?

When dealing with HMDA you have a collateral test and puprpose test.
You have a loan secured by a dwelling and made for the purpose of purchasing a dwelling.

You state the land is not not being used for ag purposes. So, there for not an agricultural purpose. (Just be becuase I have a large number of acres doesnt necessarily make it an ag loan. Maybe they use it for birdwatching, hunting, dont like to have neighbors ect..)

From the information you give I say you have a HMDA reportable transaction.

Ditto ArrowHead. You have a reportable purchase.

I would report this loan as a purchase.