6 needs for Veterans to be eligible for Texas Land Loans

6 needs for Veterans to be eligible for Texas Land Loans

Uncover the best in Hill Country residing

Thinking about buying Texas land and acquiring that loan through the Texas Veterans Land Board (VLB)? Special VLB loans can make landownership uniquely affordable for Texas veterans. But they’re maybe not offered to every person or on every little bit of land. It is important for veterans to learn certain requirements to be eligible for Texas land loans before using. This may help make sure they are able to get authorized or become conscious of the actions they have to simply take getting here.

VLB Land Loan Demands

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  1. Location—VLB land loans are merely for properties when you look at the state of Texas.
  2. Down payment—Only 5% is necessary as being a deposit. Here is the lowest advance payment of any veteran loan system into the state.
  3. Home size—VLB land loans are for properties of at the least one acre.
  4. Optimum land value—The homesite may not be valued tend to be more than $125,000.
  5. Army involvement—Loans are intended for “bona fide” residents of Texas that have offered in virtually any associated with the United States’ five branches that are military Army, Navy, Air Force, Marines, or National Guard.
  6. Lender approval—Qualifying for the VLB land loan additionally calls for loan provider approval, that will be centered on an applicant’s credit-worthiness. Credit ratings is as low as 620 for approval in a few situations, nevertheless the greater these are typically, the higher the probabilities. It is strongly suggested that veterans make use of a loan provider who are able to assist navigate the application that is complicated approval procedure. The step that is first be gathering a few key items of information, including detailed information on the house you wish to buy and individual details about you together with your social safety quantity, past details, and current/previous work and earnings.

You can begin your land search at Vintage Oaks, the community that is fastest-growing the Hill nation. The veteran-friendly community of Vintage Oaks provides a myriad of acreage properties with a few regarding the Hill Country’s many spectacular views, a location that is ideal New Braunfels between Austin and San Antonio, and simple access to veterans’ services like the San Antonio Military infirmary, the VA Clinic in New Braunfels and Randolph AFB. To show support that is continued our veterans, Vintage Oaks and developer SouthStar Communities have partnered with procedure FINALLY RESIDENCE on 10 mortgage-free houses for wounded veterans, with No. 11 in the act to be built now in the neighborhood.

For lots more information, check out Vintage Oaks or click below to download our Texas Veterans‘ Hill Country Land & Residence Buing Guide.

Veterans can check to see when they meet up with the VLB’s eligibility demands here and see the application that is online.

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