I first started posting about how great our Texas Veteran's Land Board is to all our Texas veterans six years ago when the loan limits was at $80,000. Veterans could purchase 5 acres or more at that price, and own a piece of Texas to build their Dream Homes. No other lender in the state could offer our vets the lowest interest rates for land loans.
Just last year I helped a veteran to find 5 acres to build his Dream Home, and the maximum loan limit was set at $100,000 for one acre of more. Again, that limit had increased even more to $120,000 while working with another veteran. We found a 4 acre tract that my buyer wanted to purchase, and by the time we made the offer that weekend, the loan limit had increased to $125,000 for one acre or more. Needless to say, it was perfect timing for my client, and the sellers too, since they were able to negotiate an acceptable contract.
Now, with a minimum down-payment of only 5 percent, eligible Veterans, military members and their spouses can receive land loans up to $150,000 to build their Dream Homes and own a piece of Texas.
Typical land loans can close within 45 to 60 days after completing an application and submitting a contract to the Texas Land Board. The process is simply since it's all done online now. Any property that is one acre or more qualifies.
I will be closing a 10 acre tract with another client this week, and already have another client with a 1.5 acre tract in a controlled access community that will close next month. Why wait???
The Texas VLB is the only veterans benefits program of its kind in the whole country. If you don't already have a specific piece of land in mind, a great place to start would be to look at the VLB Forfeited Land Sales that are offered quarterly, or contact a veteran real estate agent like Jerry at 210-789-4216 to assist you in finding a "Piece of Texas" to build your next Dream Home. Visit my website for Texas Land Properties For Sale.
Save
Comments(0)