The VLB Veterans Land Loan Program is the only one of its kind in the nation.
Texas Insider Report: AUSTIN, Texas – Texas Veterans Land Board (VLB) Chairwoman Dawn Buckingham, M.D. recently announced that the VLB has approved a new land loan benefit for married couples individually eligible to participate in the VLB Veterans Land Loan Program. Veterans utilizing this new benefit will be able to receive a maximum loan amount of $225,000.
With this new benefit, spouses individually eligible to participate in the VLB Veterans Land Loan Program can jointly apply for a loan to purchase the same tract of land. Both spouses must satisfy the program’s loan qualification requirements.
Eligible Veteran spouses may purchase one acre or more with a minimum 5% down payment and up to 30 years for payoff. The current land loan interest rate is 7.25 percent.
Texas Veterans and Military Members applying individually or with a non-Veteran spouse can borrow up to $150,000 to purchase land at a competitive interest rate. A minimum five percent down payment is required for one acre or more tracts.
- For more information about VLB Land Loans and how to apply, visit the Veterans Land Loan Program website.
The VLB Veterans Land Loan Program is the only one of its kind in the nation.
