The Texas Veterans Land Board announced some new program improvements that complement their all-time low interest rates on home and home improvement loans:
– Typical VLB land loan now closes in less than 30 days;
– VLB lowered the interest rate on land loans to 6.75%;
– We raised the maximum loan limits for home purchase and land loans to $417,000 and $100,000 respectively;
– VLB’s energy efficiency requirement for new homes is now more flexible, giving veterans more choices in new homes that qualify for VLB financing. In addition to the longstanding requirement that new homes have an ENERGY STAR rating, the VLB now accepts a Home Energy Rating System (HERS) rating of 75 or less as an alternative to the ENERGY STAR requirements.
