6 needs for Veterans to be eligible for Texas Land Loans

6 needs for Veterans to be eligible for Texas Land Loans

Uncover the most useful in Hill Country residing

Enthusiastic about buying Texas land and acquiring that loan through the Texas acecash Veterans Land Board (VLB)? Special VLB loans can make landownership uniquely affordable for Texas veterans. But they’re not offered to every person or on every little bit of land. It is necessary for veterans to understand what’s needed to be eligible for Texas land loans before using. This may help make sure they could get approved or become alert to the actions they have to there take to get.

VLB Land Loan Needs

  1. Location—VLB land loans are merely for properties when you look at the state of Texas.
  2. Down payment—Only 5% is necessary being a payment that is down. This is actually the cheapest deposit of any loan that is veteran into the state.
  3. Home size—VLB land loans are for properties of at the least one acre.
  4. Optimum land value—The homesite can not be valued are far more than $125,000.
  5. Army involvement—Loans are intended for “bona fide” residents of Texas who possess offered in every for 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, which will be predicated on an applicant’s credit-worthiness. Credit ratings is often as low as 620 for approval in a few circumstances, however the higher they’ve been, the higher the possibilities. It is suggested that veterans make use of a lender who are able to assist navigate the complicated application and approval procedure. The step that is first be gathering a few key items of information, including detailed information on the house you need to buy and private details about you together with your social security quantity, past details, and current/previous work and earnings.

You could start your land search at Vintage Oaks, the fastest-growing community in the Hill Country. The veteran-friendly community of Vintage Oaks offers a myriad of acreage properties with a few for 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 clinic, 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 Operation SUBSEQUENTLY RESIDENCE on 10 mortgage-free domiciles for wounded veterans, with No. 11 along the way to be built now in the neighborhood.

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

Veterans can verify when they meet with the VLB’s eligibility needs here and see the online application right here.