The Texas Veterans Land Board (TVLB) is the organization responsible for offering terrific loan programs to Texas veterans. The program is not related to the VA loan program and having a loan through the VA does not disqualify a veteran from getting another loan through the TVLB.
There are some qualifications required for the program, some of which are the home must be:
- The veteran's primary residence
- Located in Texas
- A single family attached or detached home, townhome, condo, or planned unit development
- Duplex or other multi-family units must have been constructed at least 5 years prior to loan closing
- Manufactured/modular homes may be eligible
- All new construction homes must meet the EPA guidelines for ENERGYSTAR qualified homes and must be ENERGYSTAR labeled and certified
Some of the features about the loans are:
- They can be up to $325,000
- Conventional fixed loans for 15, 20, 25, or 30 years
- Current rate is 4.4%
To qualify as a veteran, some of the stipulations are:
- Served 90 cumulative days or more in the Army, Navy, Air Force, Marines, Coast Guard, United States Public Health Service, the National Guard, or any of the associated reserves.
- Entered service as a Texas resident, or have lived as a resident in Texas for a year during current active service, or have lived in Texas for a year after leaving service
TVLB also offers loan programs for land and for home improvement/repairs.
Veterans can find and select from the list of participating lenders found on the TVLB's website www.TexasVeterans.com
Note: Veterans can also find Realtors (agents and brokers) who have been educated in the Texas Vet programs on the same website.
If you meet the qualifications for being a Texas veteran and think that getting a 4.4% home loan would put you in the market for purchasing a home, and would like to get more information about the possibilities, then please feel free to call or email me and (as a Texas veteran myself) I'd be honored to assist you!
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