More Benefits for Spouses and Children

More Benefits for Spouses and Children

Texas not only takes care of our veterans, but reaches out to support and help spouses and children of those veterans too.  Jerry Patterson, chairman of the Veterans Land Board(VLB), announced another change in policy to allow the unmarried surviving spouse of any Texas veteran killed in action an additional full 50 basis-point discount on a home loan.  This benefit, which allows Texas veterans to borrow up to $325,000 on a 30-year loan at below market interest rates, was previously only granted to disabled vets.  The discount can save veterans tens of thousands of dollars during the life of a typical 30-year loan.

Patterson immediate made this change in policy when he heard the story about a wife of a Texas veteran killed in action during his third tour in Afghanistan.  She would not have qualified for this benefit when she wanted to buy a home in Kilgore that she and her late husband had dreamed of buying when he returned home.  

The VLB also welcomed the news that Congress passed a bill expanding access to Texas State Veterans Homes for all Gold Star Parents.  A Gold Star Parent is one whose son or daughter died while serving in the Armed Forces.

Previously, federal regulations only granted this benefit to Gold Star Parents who had lost all of their children in defense of our country.  This bill, which was signed into law by President Barack Obama last year, was supported by all the major veterans organizations and the National Association of State Veterans Homes.

Our State Veterans Homes are located in Amarillo, Big Spring, Bonham, El Paso, Floresville, Temple, and coming to Tyler in 2011.

Free College for Children of Texas Veterans
Veterans, if you were living in Texas when you joined the military, your children may be able to get a FREE college education at a Texas public university.  There was a recent change to the Hazlewood Act which provides an option for veterans to pass their Hazlewood benefits to their children. To see if your children are eligible go to Hazlewood Benefits.

For more information about Texas State Veterans Homes and other state veterans benefits, see Texas Veterans Benefits, or call your local REALTOR of Choice in San Antonio today.