21 December, 2020 | By Magnus Frejd |
The VLB Veterans Land Loan Program may be the just one of its kind into the country, providing Texas Veterans and Military Members the possibility to borrow around $150,000 to get land at competitive interest levels while typically requiring the very least five per cent advance payment for tracts of 1 acre or maybe more.
This system is not difficult to utilize and provides Texas Veterans and Military members financing that is exclusive the acquisition of the very own little bit of Texas. The bonds used to finance this system are resigned from loan repayments in addition to price of administering this program is financed via a fee that is small for each loan.
The Land Loan Process
- Be Ready
- Get Prequalified
- Find Your Land
- Finish the necessary Documents
- Finalizing the method
The mortgage quantity is dependent on credit approval. Get made by reviewing your credit. Gather your revenue information and stay willing to provide your loan processor along with your newest pay stubs to help in determining your creditworthiness.
Once you’ve collected your revenue information and reviewed your credit, begin the application that is online for loan approval.
Analysis tracts of land easily obtainable in Texas that meet up with the VLB land loan needs. You are able to search for land provided through our Land product Sales.
Finish the processing of the land loan by coming back all needed loan paperwork (i.e. executed agreement, study, industry notes, as well as land plat).
Finalize your loan procedure by coordinating a closing time and date together with your chosen name business and being ready to spend the deposit and all the expenses to shut.
To qualify for VLB loan programs, Veterans and army people must be:
- At the very least 18 years old.