Good News for Texas Veterans

You have served your country well and here is a little something that you may be glad to know in return. I have a daughter and son-in-law who are currently serving in active military duty and are going to be completing their current contracts in the next year. They are planning on buying a home here in Texas, so I got motivated to find the best deal all around for them when I came upon the Texas Veterans Land Board. This is a great deal for those have completed the necessary eligibility requirements. Here are a few of the highlights.

You must have serve at least 90 cumulative days of active duty, completed all required training, not have been dishonorably discharged and have had Texas as your home of record prior to entering the military or have lived in Texas for at least one year after discharge and the property has to be in Texas. You can still be on active duty and qualify.

Now for the good part. The interest rates are typically lower than the current rates. These change every Friday and can be checked at the Texas Veterans site www.TexasVeterans.com along with other helpful information. A couple of other quick notes. If you take a 15 year note, you can deduct .25% from the interest rate and if you have received 50% disability, you may take another .35%. The big one comes for anyone who entered active duty before 1977 and has been out less than 30 years, you get to deduct 1.12% from the rate which could put you as low as 4.3%.

You may have all three types of loans at the same time - Home Loan, a Land Loan and a Home Improvement Loan. Unfortunately, Texas Veterans Land Board does not do re-finances.

I hope this helps and thank you for serving!