AUSTIN (Veterans Land Board) – Texas veterans can now take advantage of record interest rate loans from the Veterans Land Board (VLB).

As much as $100,000 may be borrowed to buy land. A 6.75 percent interest rate was announced yesterday by the VLB. The previous rate was 7.25 percent.

Thanks to low interest rate loans and favorable terms, deals are being closed in an average 30 days or less.

“No other state can match what the VLB offers: low-cost home, land and home improvement loans; skilled nursing facilities and cemeteries — all exclusively for Texas veterans or their spouses,” said Jerry Patterson, VLB chairman. “And all of our programs are self-funding, which is good news for Texas taxpayers.”