The VLB Veterans Land Loan Program may be the just one of the sort into the country, providing Texas Veterans and Military Members the possibility to borrow as much as $150,000 to get land at competitive interest levels while typically requiring the absolute minimum five per cent deposit for tracts of 1 acre or higher.
This program is simple to utilize and provides Texas Veterans and Military Members exclusive financing towards the purchase of these own bit of Texas. The bonds utilized to finance this system are retired from loan repayments therefore the price of administering this program is financed through a tiny cost charged on each loan.
LAND LOAN FINANCING
Land Loans – Veteran/Military interest 7.25percent
VLB provides financing on tracts as much as $150,000 with the very least five per cent advance payment and a fixed-rate 30-year loan term. The five % deposit is susceptible to credit approval.
A $325 assessment and agreement solution charge is born during the right period of application. There’s no pre-payment penalty.
You wish to purchase, consider the following options if you have not already identified the land:
- View VLB land on the market open to the general public
- Check out a house search website that lists land accessible in Texas
- Phone VLB at 800-252-8387
When a Veteran, or his / her successor, has effectively paid down a VLB land loan s/he may submit an application for another VLB land loan. The exact same pertains to our house and home improvement loan programs.
UP-TO-DATE ACCOUNT HOLDERS
To mail the VLB Loan Servicing Company:
Texas Veterans Land Board (via DMI) 1 DriveSuite that is corporate 360 Zurich, IL. 60047-8945