Are You a Veteran Who Dreams of Owning Your Own Property?
Do you want to buy a home or undeveloped land in the State of Texas? If you are a veteran in the State of Texas, there may be options for you that you are not aware of.
The Texas Veterans’ Land Board
A great resource for Texas veterans is the Texas Veterans Land Board. The Veterans’ Land Board (or VLB) offers loans to veterans at competitive rates. It is easy to qualify and the loan can be used in a variety of ways. This type of loan is the only one of its kind in the country. These loans can be used for the purchase of a home or land, or they may also be used for home improvement. This makes them a great flexible option for a veteran who would like to purchase real estate in Texas.
There are only a few requirements. The property must be entirely within the State of Texas, contain at least one acre of usable land, and be accessible by road.
The purchaser must be a veteran, member of the National Guard, or Reserves living in the State of Texas at the time of purchase.
There are a few other requirements, which are not difficult; but you do not want to be disappointed, so be sure to speak to your real estate agent if you would like to apply for this type of loan. He can explain to you all of the details regarding a loan from the Texas Veterans’ Land Board.
Auction Properties Available
While you are considering your options through the Texas Veterans Land Board, be sure to consider purchasing one of their auction properties. These are VLB forfeited tracts available at great prices. One veteran said that he applied for a VLB loan and bid on a two-acre piece of riverfront property that sold for $82,000. Similar properties nearby were selling for much more. He narrowly missed that opportunity but looks forward to finding the next great auction deal.
This property, according to the veteran, would have been an investment as well as a future home building site. What a great way for veterans to build for the future!
If you are looking for the home of your dreams on a piece of Texas with elbow room, check out your options for land purchased through the Texas Veterans Land Board. It is a great benefit for Texas veterans.
Do not forget, however, that home purchases are also available through the VLB. Rates are low and again, it is easy to qualify. The home must meet certain standards and must be a primary residence.
Home improvement loans are also available to a maximum of $25,000 for veterans through the VLB.
A Great Opportunity
Together, all of these benefits make a very flexible funding source for a variety of uses. It is quite likely that your realtor can utilize this resource to help you fund your first home or investment property. This is a separate program and does not affect your VA loan qualifications in any way.
(However, it is important to remember that both the VLB home loan and the VA home loan require that the property be a primary residence, so you might consider the VLB loan for undeveloped investment property alone.)
There are great benefits to veterans in the State of Texas, and your San Antonio expert realtor can help you take advantage of them! Contact Ray to get all of the details on this benefit. He is an expert and can advise you on this and many other real estate opportunities in the San Antonio area.