A customer is refinancing their poultry farm and their current primary residence. Along with the refinance, new money is added to purchase a new primary dwelling and 100 acres that adjoins the customer's poultry farm. The home on the poultry farm will now become a rent house for the farm help.

Purchasing a farm with a dwelling is exempt from HMDA, but if there is a refinance of another dwelling would the refinance be reported?

Or, would this even be HMDA reportable since purchase trumps refinance and in this case the purchase is exempt?

I'd report it as a straight refi. The fact that your "multi-purpose" loan isn't actually multiple purpose because of the ag. purchase exemption doesn't change the fact that the other purpose of your loan, the refinance, is reportable.

On the other hand, if the reason they are buying the additional property is for the new primary dwelling, this could be reported as a purchase. See the following from the commentary:

3.
Farm loan. A loan to purchase property used primarily for agricultural purposes is not a home purchase loan even if the property includes a dwelling. An institution may use any reasonable standard to determine the primary use of the property, such as by reference to the exemption from Regulation X (Real Estate Settlement Procedures, 12 C.F.R. 1024.5(b)(1)) for a loan on property of 25 acres or more. An institution may select the standard to apply on a case-by-case basis.