A Land of Opportunity for Our Heroes
Are you a veteran in Texas looking to secure a land loan? As a Texas veteran, you have access to unique benefits that can help make owning a piece of Texas land more accessible. The Texas Veterans Land Board (VLB) program offers an incredible opportunity, with favorable terms, for those who have served our country.
What is the Texas Veteran Land Loan?
The Texas Veterans Land Board will finance up to $150,000 of your total land purchase with a 5% down payment. These loans come with below-market interest rates to make land ownership more affordable.
Who Qualifies for the Texas Veteran Land Loan?
- You must be at least 18 years old when you apply.
- A bona fide Texas resident.
- Currently serving on active duty in the Texas National Guard or a reserve component with 20 qualifying years for retirement.
- A veteran with at least 90 cumulative days of active service, unless discharged earlier for a service-connected disability.
- A surviving spouse of a military member who is missing in action or whose death was service-connected.
- Free of any defaults on previous loans from the Texas Veterans Land Board.
- Serving or have served after September 16, 1940.
- Not dishonorably discharged.
- Listed Texas as your home of record when you joined the military or have been a legal Texas resident for 12 consecutive months before applying.
Who Qualifies for the Texas Veteran Land Loan?
- You must be at least 18 years old when you apply.
- A bona fide Texas resident.
- Currently serving on active duty in the Texas National Guard or a reserve component with 20 qualifying years for retirement.
- A veteran with at least 90 cumulative days of active service, unless discharged earlier for a service-connected disability.
- A surviving spouse of a military member who is missing in action or whose death was service-connected.
- Free of any defaults on previous loans from the Texas Veterans Land Board.
- Serving or have served after September 16, 1940.
- Not dishonorably discharged.
- Listed Texas as your home of record when you joined the military or have been a legal Texas resident for 12 consecutive months before applying.
Loan Process and Requirements
Loan Closure Time
It typically takes about 45 days to close on a loan, assuming you’ve got all your ducks in a row — that means submitting all required documentation promptly and not having any unusual purchase circumstance
Application Procedure
Ready to apply? You can request a land application packet by calling toll-free at 1-800-252-VETS, visiting the Texas Veterans Land Board website to apply online, or downloading an application form.
Payment Breakdown
At closing, you’ll need to cover 5% of the purchase price as a down payment from your own funds, with the rest covered by the VLB loan. If the land costs more than the loan amount, you’ll need to pay the difference.
Documentation and Timeliness
What You’ll Need
After receiving your application packet, you, along with the seller, will need to complete and send in all the required paperwork, which includes the application, an appraisal, and contract fees due at the time of application.
A Note on Timeliness
The time it takes to process your land loan can vary. It hinges on the accuracy and completeness of your application packet and how quickly you submit the required documents.
Ready to own your piece of Texas?
Meet your Lonestar Land Sales Agent today, and let’s get the ball rolling!