Veterans Land Board Home Ownership Benefits

Preparing for Veteran’s Day on November 11th:
Helping Your Vet Live a Better Life

Since I am a preferred agent of the Texas Veterans Land Board, you might surmise that I am passionate about our troops and passionate about doing the things I can do, in my capacity as a real estate broker and agent, to help them live the best quality of life possible after they have put their lives on the line to protect and defend our nation.

November is upon us, and that means Veteran’s Day is near. Rather than only visiting the cemetery to honor the memory of a loved one who served, or simply saying thank-you to the vets you know, you may have the ability to help one in a very useful way. You may be able to help a vet realize a better quality of life by imparting to them a little useful information about their Veterans Land Board benefits.

The Texas Veterans Land Board (VLB) is a wonderful organization that funds low-interest home loans, land loans, and home improvement loans to our veterans. Additionally, this incredible organization does it at almost no cost to taxpayers. The benefits are so broad and inclusive, that it is truly a service to the vast majority of vets, no matter what their home and land needs may be. Here is a “Top Ten” helpful points list I have compiled that you can review. You may see how one or more of the points listed may be applicable to the vet in your life, and you can share it accordingly:

1. GENEROUS LOANS
   Loans can be up to $1,000,000, so these loans are not merely for starter homes. Low-interest home loans of just over $400,000 are available, land loans of up to $100,000.
   
   
2. ALL BRANCHES ELIGIBLE
   Members of the Army, Navy, Air Force, and Marines are eligible… and have access to benefits while still active!  Yes, members of the Reserves and National Guard can also qualify; they are simply required  to serve 6 years of honorable service prior to qualifying.
    
3. SURVIVORS CAN QUALIFY
   Surviving spouses of fallen heroes can qualify.
    
4. CAN BE CHEAPER THAN FHA LOANS
   VA loans are often cheaper than conventional or FHA loans. It is important to have a qualified VA lender process the loan to realize this. A preferred agent can help you find a qualified VA lender.
    
5. QUALIFYING IS EASY
   Qualifying for a VA loan is often easier. The guidelines are more relaxed and credit ratings not so stringent.
    
6. HOME IMPROVEMENT LOANS
   If your vet already has a home, but that home desperately needs some fixes and improvements, the VLB can help with a home improvement loan for up to $25,000.
   
   
7. NO LIMIT TO USING THIS BENEFIT
   Used a VA loan program before? You can still qualify again! Veterans can use their benefit multiple times. There may be some guidelines or conditions that need to be met, but there is actually no limit to the number of times you can be granted this benefit.
    
8. NO DOWN PAYMENTS
   Having a VA loan means no down payment and no monthly mortgage insurance premiums.
    
9. TAX EXEMPTIONS
   Another thing the VLB can do to help veterans is help them file for tax exemptions on property they already own. If the veteran you know is not already enjoying their property tax exemption, you can encourage them to do so. As a preferred agent, I can assist a vet in this process.
    
10. LONG-TERM CARE HOMES
    Long-term care and assisted living homes: the VLB offers benefits to our aging vets. There are eight locations across the state of Texas that are exclusively for veterans and their spouses.

This year, Veteran’s Day falls on November 11th. We all know that we can honor the day by showing appreciation to the veterans we know, that we appreciate them for their service and their sacrifice. But if you know a veteran who is struggling to get into an affordable home, needs to make some home improvements but doesn’t know how to finance it,  or is not aware that they qualify for tax exemptions, you can appreciate them with more than your thanks, you can share with them information about the VLB and help them to have a better life.