Texas Veterans Programs
Land Program
The Texas Veterans Land Board (TVLB) will purchase the tract of land in which you are interested directly from the
seller. The TVLB then resells the land to you by a 30-year contract of sale. It takes approximately 90 days to
close a loan, provided all necessary documentation is submitted timely and there are no unusual situations
associated with the purchase.
When the terms of the contract are fulfilled, the TVLB will issue a deed to the property to you. The Texas Veterans
Land Program is self-supportive, funded by bonds and the fees submitted by each Veteran purchaser.
Forfeited Land Sale
The Texas Veterans Land Board has forfeited tracts available for sale throughout the state of Texas. The Website
listing are updated as tracts are sold or new tracts added.
Type I Tract sales are available only to eligible Texas Veterans. Tracts are awarded via a sealed bid sale.
Type II Tracts (Tex-Trac II Program) are available to the general public. Tracts are sold exclusively through
licensed Texas realtors.
Housing Assistance
The Veterans Housing Assistance Program (VHAP) will provide financing up to $150,000 toward the purchase of a home
to qualified Texas Veterans. The term of the loan can be 15, 20, 25, or 30 years.
There is no maximum sales price restriction with the VHAP; however, the Board can only invest $150,000 toward the
purchase of the home.
If the purchase price is more than $150,000, the VHAP can be used in conjunction with Federal Housing Administration
(FHA), Veterans Administration (VA), or conventional financing. This is known as a "two-note loan" and requires the
use of a Texas Veterans Land Board (TVLB) approved lender. All loans for more than $45,000 must be originated by a
TVLB approved lender. (Please contact the TVLB at 1.800.252.8387 for a list of approved lenders.) The two notes
are underwritten as co-first liens using one Deed of Trust to secure them.
As a result of restriction imposed on the use of tax-exempt bonds by the 1986 Federal Tax Reform Act, not all
veterans are eligible for the same interest rate. The interest rate will be determined at the time the Certificate
of Eligibility is issued. Loans originated directly by the TVLB will have a slightly higher interest rate and will
also be secured by a Deed of Trust. For more information on the interest rates please call 1.800.252.8387.
All Texas Veterans Land Board loans are subject to credit approval. All loans required an escrow account to be set
up for taxes and insurance. The VHAP is not a refinancing program. The VHAP cannot be used as a down payment on a
home.
Cosigners and guarantors may be accepted on the Veteran's behalf if the Veteran has sufficient income to qualify for
at least 60 percent of the monthly payments on the mortgage loan, including taxes and insurance.
Home Improvement
The Texas Veterans Land Board (TVLB) will loan a maximum of $25,000 for home improvements to the veteran's primary
residence. After credit approval and all necessary documentation has been submitted and the loan documents are
processed and signed, the selected contractor can begin work. Upon completion of the work, the TVLB pays the
contractor. The Texas Veterans Land Board must be in a first or second lien position. The veteran cannot advance
any funds to the contractor, or purchase materials in advance.
If the Veteran is required to vacate the home while the improvements are being made, he/she must re-occupy it within
60 days after completion of the construction. The Veterans Home Improvement Program (VHIP) cannot be used for
refinancing.
Rapid Response Program 48-Hour Emergency Loan Approval
The Rapid Response Program is part of the Texas Veterans Land Board (TVLB) Home Program. It has the same loan
requirements and funding source. These loans are originated only by the
TVLB Loan Production Offices.
Preliminary approval of creditworthiness and veteran status can be given the first day if permission to run a credit
check is given and a DD-214 is submitted. Final approval can be given a two-day time frame if a complete
application with all required information is submitted. Any delay by the applicant on any of the required
information will cause a delay in processing.
For Purposes of the Rapid Response Program, "emergency" means those situations, determined on an individual basis,
in which the health and/or safety of the applicant and family could be affected if home repairs and improvements are
not made quickly. Repairs and improvements that would qualify under this definition would include, but are not
limited to, those relating to a home's structure, roof, water, waste water, power, heating, cooling, contamination
and/or infestation.
Green building Program
As an extension the Texas Veterans Housing Assistance and Home Improvement Programs, the Green building Program
makes loans at reduced interest rates for home construction, purchases and remodeling for those Veterans who qualify
under normal TVLB housing and home improvement loan requirements. For a copy of the Green building checklist with
interest guidelines and a list of TVLB production offices, please call 1.800.252.8387.
Eligibility as a Texas Veteran
To participate in this program, the veteran must demonstrate that all of the following conditions are satisfied:
- The applicant must have served no fewer than 90 continuous days, unless sooner discharged by reason of a
service-connected disability on active duty or active duty training in the Army, Navy, Air Force, Marines, Coast
Guard, or United States Public Health Service, or reserve component of one of the listed branches of service, or
have enlisted or received an appointment in the Texas National Guard after completing all initial active duty
training required as a condition of enlistment or appointment and who has not been dishonorably discharged from the
Texas National Guard.
- All or part of the service must have been after September 16, 1940. (Due to federal tax code restrictions,
reservists and guardsmen may have a higher interest rate associated with their loan.)
- The applicant must have completed the initial obligation and not been dishonorably discharged.
- The unmarried, surviving spouse of Texas veterans who died in the line of duty (veteran's home of record must have
been Texas at the time of entry into the service) may be eligible to participate in the program at a slightly higher
interest rate.
- The applicant's home of record must have been Texas at the time of entry into the military or the veteran must have
been a bona fide resident of Texas for at least two consecutive years immediately prior to filing an application.
The applicant must also be a bona fide resident of Texas at the time the application is made. A "bona fide"
resident is someone who is living in Texas with the intent to remain in Texas. Presence in Texas due to military
service does not establish bona fide residency.
- Once a loan is successfully repaid, a veteran may be eligible for another loan at the interest rate in effect at the
time of the new loan. A loan is considered successfully repaid when the account has been paid in full by the
original veteran purchaser or last approved assignee.
The Texas Veterans Commission, not the TVLB, will determine the eligibility in terms of service in the Armed Forces
and residency in the state of Texas.
NOTE: All Texas Veterans Land Board loans are subject to credit approval.
Texas General Land Board web site
page last updated 02/22/08