AUSTIN — Today, Texas Land Commissioner and Texas Veterans Land Board (VLB) Chairwoman Dawn Buckingham, M.D. announced that the VLB has approved a new land loan benefit for married couples individually eligible to participate in the VLB Veterans Land Loan Program.

With this new benefit, spouses individually eligible to participate in the VLB Veterans Land Loan Program can jointly apply for a loan to purchase the same tract of land. Both spouses must satisfy the program's loan qualification requirements. Veterans utilizing this new benefit will be able to receive a maximum loan amount of $225,000.

Eligible Veteran spouses may purchase one acre or more with a minimum 5% down payment and up to 30 years for payoff. The current land loan interest rate is 7.25 percent. Please note that all VLB interest rates and available discounts are subject to change at any time, and all VLB loans are subject to credit approval.

The VLB Veterans Land Loan Program is the only one of its kind in the nation. Texas Veterans and Military Members applying individually or with a non-Veteran spouse can borrow up to $150,000 to purchase land at a competitive interest rate. A minimum five percent down payment is required for one acre or more tracts.

For more information about VLB Land Loans and how to apply, click the button below:

VLB Land Loans