Unbeatable Rates for Texas Veterans
The Texas Veterans Land Board (Texas Vet) rate for the week of May 22nd, 2016 is 3.92%.
Texas Veterans with a service-connected disability of 30% or greater the current rate is 3.42%.
Texas Vet mortgages are 15 & 30 yr fixed rates, no down payment up to $417,000. Texas Veteran home purchases are originated by participating lenders. To get pre-qualified for a Texas Veteran Land Board mortgage fill out the basic information to the right and a specialist with a participating lender will contact you and assist you with loan pre-qualification.
For more information on the Texas Veteran Land Board programs read more below…..
Land & Home Loans
The State of Texas has always supported its Veterans in return for their Military service. In 1946 the Texas Veteran Land Board (VLB) was created to administer benefits exclusively for Texas Veterans. Since then, over 200,000 mortgages have been funded.
3 Types Texas Veteran Loans: Land, Improvement & Purchase
The Texas Veterans Land Board programs offer three types. Texas Vet Land and Home Improvement programs are originated directly from the Texas Veterans Land Board, not private lenders. For more information on these programs, click here.
Also known Veteran Land Board Veterans Housing Assistance Program. This program assists Texas Veterans in purchasing a home. Through this program, eligible veterans have an opportunity to purchase a home with an unbeatable, low-interest Vet Mortgage with little or no money down. Texas Vet home purchase mortgages are originated through a participating lender.
A Texas Veteran Program may be used to purchase a home that meets the following requirements:
- Must be the Veteran’s primary residence.
- Must be located in the State of Texas.
- Must be a single family attached or detached home, town home, condominium or planned unit development.
- Duplexes or other multi-family units must have been constructed at least five years prior to the closing date.
- Manufactured / modular homes may be eligible. Contact the VLB to confirm.
- To be eligible for Veterans Land Board financing, all new construction homes must meet either:
- the Environmental Protection Agency’s (EPA) guidelines for ENERGY STAR® qualified homes, and must be ENERGY STAR® labeled and certified or
- A HERS Index Score of 75 or less following the RESNET National Home Energy Rating Standards and must have an energy rating Certificate that documents the HERS Index score of 75 or less.
Click here to get pre-qualified for a Texas Vet Mortgage. A Texas Vet specialist with a participating lender will contact you to answer any questions and help you get pre-qualified.
Additional Benefits for Disabled Veterans
Disabled Veterans and Unmarried Surviving Spouses may qualify for an interest rate reduction of one half of one percent (50 basis points) on their Texas Veteran Land Board mortgage.
Disabled Veterans must have a compensable service-connected disability of 30% or greater as verified by an award letter for the Department of Veterans Affairs (the VA).
An unmarried surviving spouse of a Veteran who is missing in action, or who died in the line of duty, or died from a service-connected cause and had a compensable service-connected disability rating of 30% or greater (as verified by an Award Letter from the VA) at the time of death and was a legal resident of Texas is also eligible for the one half of one percent discount
Disabled Veterans and Surviving Spouses must also meet the other eligibility requirements to qualify for the discount. A Specialist with a participating lender can help disabled Veterans and Surviving Spouses get pre-qualified for Texas Veteran Mortgages. They have a unique understanding of their disability and benefit income and how to use it to qualify. Additionally, they can assist in obtaining the proper benefit documentation that will be needed in order to qualify for the mortgage.
To have a Specialist contact and assist you with pre-qualification, click here and fill out the basic information. A Specialist will contact you and go over all the details to help you purchase a home.
VALoanCenter.net is not a government agency website or affiliated with the Department of Veterans Affairs. VALoanCenter.net has relationships with VA Loan Specialists who work for VA approved lenders. VALoanCenter.net may share your information with these trusted affiliates in order to assist you.