All VLB interest rates and available discounts are subject to change at any time. All VLB loans are subject to credit approval.
The VLB Veterans Land Loan Program is the only one of its kind in the nation, giving Texas Veterans and Military Members the opportunity to borrow up to $150,000 to purchase land at competitive interest rates while typically requiring a minimum five percent down payment for tracts of one acre or more.
The program is easy to use and offers Texas Veterans and Military Members exclusive financing towards the purchase of their own piece of Texas. The bonds used to fund the program are retired from loan repayments and the cost of administering the program is financed through a small fee charged on each loan.
Still have questions about the process? Then contact the Veterans call center at 800-252-8387 or join VLB's weekly thirty-minute Zoom@Noon for help. It's simple to register on VLB's event page.
Seven Simple Steps to Get Started
The loan amount is based on credit approval. Get prepared by reviewing your credit. Gather your income information and be prepared to provide your loan processor with your most recent pay stubs to assist in determining your creditworthiness.
Once you have gathered your income information and reviewed your credit, start the online application process for loan approval.
Research tracts of land for sale in Texas that meet the VLB land loan requirements. You can also shop for land offered through our Land Sales.
Complete the processing of your land loan by returning all required loan documentation (i.e. executed contract, survey, field notes, and or land plat).
Finalize your loan process by coordinating a closing date and time with your selected title company and being prepared to pay the down payment and all other costs to close.
To be eligible for VLB loan programs, Veterans and Military Members must be:
To be eligible for VLB financing, the land must:
No value will be given to any improvements on tracts. Multiple, contiguous tracts may be combined under one financing instrument provided each share is not less than 60 linear feet of common boundary or tracts are adjacent to one another and separated solely by the actual width of the public right of way.
Land Loans – Veteran/Military Interest rate 7.25 %
All VLB interest rates and available discounts are subject to change at any time. All VLB loans are subject to credit approval.
VLB provides financing on tracts up to $150,000 with a minimum five percent down payment and a fixed-rate 30-year loan term. The five percent down payment is subject to credit approval.
A $325 appraisal and contract service fee is due at the time of application. There is no pre-payment penalty.
If you have not already identified the land you wish to purchase, consider the following options:
Once a Veteran, or his or her successor, has successfully paid off a VLB land loan s/he may apply for another VLB land loan. The same applies to our home and home improvement loan programs.
To mail the VLB Loan Servicing Provider:
Texas Veterans Land Board (via DMI)
1 Corporate Drive
Suite 360
Lake Zurich, IL. 60047-8945
Please note, if you have problems with the processing of your loan payment, you can call our VLB Call Center at 800-252-8387 or email us at vlbinfo@glo.texas.gov and we can help you resolve the issue. We are here to serve YOU!
The VLB’s severance policy allows Veterans and Military Members to obtain a fee title to a portion of their VLB tract. Such partial resale requests are always at the sole discretion of the VLB and subject to higher valuation pricing and stricter guidelines than severances for a home site. It is also the policy of the VLB that any request for severance represents a request to “subdivide” the existing tract. Therefore, all severances must be in compliance with state laws and county and local ordinances governing any such “subdivision.” If any such law or ordinance imposes a condition that is more restrictive than the policy or procedure contained herein, the law or ordinance will control.
Tracts less than 3 acres:
The VLB will not grant a severance.
4 – 19 acres:
A severance is possible. The severance must be a minimum of one acre or the minimum size required by county and local regulations, whichever is larger. A partial release must allow sufficient room for the house, septic system and water well (where applicable), all of which must fit entirely within the boundaries of the partial release.
Note: Before hiring a surveyor, please contact our servicer.
For information concerning assumptions (also known as transfers), contact our servicer, DMI, at 1-866-654-6345 and ask for special loans. Assumption forms must be requested by the account holder and will only be mailed to the account holder. VLB land loans may be assumed after three years.