Back in 1946, the Texas Legislature created the Texas Veterans Land Board (VLB) in order to make land available for Veterans returning from World War II. Nearly 70 years later, the board has expanded its services to Texas Veterans and their families, all at little or no cost to Texas taxpayers.
Texas VLB loans and benefits are funded by bonds supported by the Veterans participating in the program. Because Veterans are reliable and responsible borrowers, these bonds are financially strong and allow for the best state Veterans benefits in the nation.
LAND LOANS
The VLB Land Loan Program is the only one of its kind in the country--giving Texas Veterans the opportunity to borrow money to purchase land at below-market interest rates while only requiring a minimum 5% down payment. (subject to credit approval) Veterans may loan up to $125,000 for the purchase of one acre or more of Texas land!
To be eligible for Veterans Land Loan financing, land must meet certain requirements. Commercial property is not eligible.
FORFEITED LAND SALES
Occaisionally, Veterans cannot make the payments on their VLB land loans and must forfeit their land. The VLB Forfeited Land Sales Program makes these tracts available for purchase by other Texas Veterans, and subsequently, the general public. Veterans Only quarterly online land sales are scheduled in January, April, July, and October. Public Forfeited Land Sales are on-going.
HOME LOANS
* Available to qualifying Veterans who are bona fide residents of TEXAS
* Below-market interest rates on 15- to 30- year loans with fixed-rate terms
* Loans available up to $417,000
* New construction homes must be ENERGY STAR™ labeled and certified or have a HERS Index score of 75 or less
* Home loans must be originated using Conventional, FHA, or VA financing guidelines
* Russell Rhodes from our office is a participating lender (832-381-2224); for a complete list of participating lenders visit www.texasveterans.com
If you are a veteran, THANK YOU for your service and dedication to preserving our freedoms. As U.S. citizens, we have enjoyed the blessing of freedom for many generations. As Ronald Reagan once said,
- Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free.
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