Interest rates have risen over the last month. They were starting to come down a little today but not quickly. Yet there are astoundingly great deals available especially if you are a Texas veteran or let me put it another way if you are a veteran living in Texas. You will be amazed at who is eligible. You may not think you are but you might just be surprised.
Every Friday evening I get an update on the interest rates and discounts available through the Texas Veterans Land Board (TVLB). Last Friday's rates were: 6.1% base rate, discount for 15 year or less loan -.25%, disabilities program -.35%, qualified service era discount -1.64%. That means someone like me with a service era discount could get a 30 year loan at a rate of 4.46% and if I wanted a 15 year loan the interest rate would be 4.21%. Those are unbelievable rates.
Now catch this not only does the TVLB have home loans but they also have loans for land (yes that is raw land) and home improvements. AND they also have a direct loan program where they will lend you up to $45,000 direct to purchase your primary residence. Yes I know you are thinking that you can't buy anything for $45,000. But you are wrong. Where I live, around Lake Conroe, there are a lot of great one bedroom condos for that price and less. Can imagine being a single 25 year old vet and getting to buy a condo at your age? What a way to buy rather than rent at that age. What a great way to also start your real estate portfolio. And one more thing...you can participate in all three programs, home, land and home improvement at the same time. Now that is amazing.
Texas is one of only five states to offer veteran benefits. This is one of the greatest programs going!! In Montgomery County there are over 4,000 known veterans. I say known veterans because I checked and I am not on the list. But I do qualify even though I entered the USMC from Chicago. Yep you may not think you are a Texas veteran but you probably are. I almost forgot this if you are a surviving spouse you are also eligible!!
What do you do now? If you are a veteran looking for a home or land in Montgomery or Walker County email today and I will help you find the property and put you in touch with the right loan officer knowledgeable about the TVLB programs. If you are looking in Harris County email be and I will connect you with a realtor who is a veteran and knowledgeable with the TVLB programs.
If you are a veteran don't waste a minute. Email me today please. Thanks and have a great day! Here is the TVLB website: http://www.glo.state.tx.us/vlb/
Ron
