Great News for Texas Vets - Loans Limits Have Increased!
Just off the latest press release, the Texas Veterans Land Board has announced that the home loans and land loans have increased for all our Texas Veterans. Texas Veterans can now take advantage of the VLB’s low-interest rate loans to borrow as much as $417,000 to buy a home, and $100,000 to purchase land.
Under the leadership of Chairman, Jerry Patterson, the Texas Veteran Land Board voted unanimously on April 26, 2012, to increase the home and land loan limits for the latest expansion of benefits to our veterans. “Texas veterans have more than earned this increase VLB benefit,” Patterson said. “Increasing these loan limits gives Texas veterans additional purchasing power to buy the home of their dreams or to find a piece of Texas to call their own”.
Since taking office in 2003, Patterson has raised the amount of Texas veterans may borrow for a home from $150,000 to $417,000. Buying land throughout the VLB has gotten easier too. Under Patterson’s direction, the VLB has reduced the minimum acreage that could be bought with a VLB land loan from 5 acres to one acre, and making it easier for veterans to buy lots closer to urban areas. A Texas veteran can simultaneously have a VLB land loan, a VLB home loan, and a VLB home improvement loan.
The Texas Veterans Land Board was created in 1946 to help veterans returning from World War II buy land for agricultural purposes. The program has changed over the years as land prices rose sharply and VLB land loan amounts have increased from the original $7,500.
“No other state can match what the VLB offers: low-cost home, land and home improvement loans; skilled nursing facilities and cemeteries - all exclusively for Texas veterans or their spouse,” Patterson said. All these programs are self-funding, which is good news for Texas taxpayers.
For more information on these Texas Veterans Land Board Programs, Contact Jerry Today at 210-789-4216, or visit the VLB website at Texas Veterans Programs.
Your Military Relocation Specialist "Serving You For All Your Real Estate Needs"
Jerry Newman, MA, REALTOR®, ABR®, GREEN, MRP
US Army Retired
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