Texas Veterans And The Land Buying Process

Several veterans doing a United States flag ceremony.

Texas is unique in the country for offering a state program that helps Texas Veterans and Military Members a low down payment, low interest loan to enable them to buy land in the state. Such a program is only available in Texas, and it is testament to the value and appreciation the state has for those who choose to serve.

The process itself is quite simple, and the details are all outlines below.

Eligibility

To be eligible for the Texas veterans’ program, you as a veteran and your spouse need to be over 18 years of age, and a current, legal resident of Texas on the date of your application. You must also meet one of the following requirements:

  • A current active duty Member of the Military
  • A military reservist who has completed 20 qualifying years towards retirement
  • A Veteran who has served at least 90 active duty days unless discharged sooner due to a service-connected disability. Excluding anyone discharged dishonorably
  • The surviving spouse of a Veteran listed as missing in action or who died in military service
  • A member of the Texas national Guard
  • To apply you will need copies of your military service records to confirm this eligibility, which can be requested using National Archives Standard Form 180 (SF-180).

Land Loans

Loans of up to $150,000 is provided for buying Texas land, with current interest rate set at 7.5%, requiring a 5% down payment on a 30-year loan term. AT the time of application, a $325 appraisal and contract service fee are applicable.

VLB do not charge for prepayments, and they have a more open approach to credit scores. Higher is always better, but they have awarded loans to borrowers with scores as low as 620 on occasion, so never think that it is beyond you.

To qualify for the VLB loan, the land you intend to purchase must be entirely within the state of Texas, and be of at least 1 acre in size, excluding areas that are roadways, waterways or other unusable land.

Aerial view of several hundred acres of Texas land.

In addition, the land must have a legal and usable access to a public road, with access meeting county public road width requirements or at least 60 feet in width, whichever is the greater. It cannot have existing zoning for commercial use, and it must be properly described by either a field not description with the surveyor’s official seal and signature, or a complete copy of the recorded subdivision plat.

Finally, the property must be cleared of all trash or dilapidated structures before completion, and it cannot have been owned by you or your spouse within the previous three years.

A new opportunity

With the Texas Veterans financing, affordable land all over Texas, and the many benefits of Texas land ownership, this initiative opens the door to a world of opportunity for veterans and their families. Whether the dream is to build a home, a farm or a business, the VLB program means that there is a tailored option designed to help you as a veteran make that dream a reality in Texas.