Texas Veterans Land Board is one of the best choices for veterans wanting to purchase land in Texas.
To be eligible for VLB financing, the land must:
- Be wholly within the state of Texas.
- Contain at least one acre, excluding any portion beneath a dedicated public roadway or navigable waterway or subject to frequent inundation or otherwise unusable.
- Have legal, usable access to a public road. Access must be a minimum of 60 feet wide or meet the county public road width requirements, whichever is greater. “Usable” means that it can be driven on by a standard passenger car in inclement weather.
- Be properly described by either a field note description of the tract with the surveyor’s official seal and signature (original or copy) or a complete copy of the recorded subdivision plat if the description is by lot & block.
- Not be zoned strictly for commercial use.
- Not have been owned by you or your spouse within the previous three years.
- All trash/debris, tires or dilapidated structures must be removed prior to closing.
No value will be given to any improvements on tracts. Multiple, contiguous tracts may be combined under one financing instrument provided each share is not less than 60 linear feet of common boundary or tracts are adjacent to one another and separated solely by the actual width of the public right of way.
Veterans can purchase one acre tracts or more, and finance up to $150,000 at an interest rate of 7.24 percent. The down payment is only 5 percent, and there is an appraisal and contract fee of $325 due at the time of application. See the Land Loan Process for the Texas Veterans Land Board. If you are planning to purchase land in Texas, Call Jerry at 210-789-4216 Today, a fellow veteran who knows who very familiar with Texas Veteran Land Board.