VA Land loan vs everyone else

[doeboy11]

This is what I found

Land Loan Interest Rates Texas
Finance the perfect spot for your dream home
Land Loan 4 year. as low as 4.750% rate. 5.365% apr. More Details.
Land 7 Year. as low as 5.375% rate. 5.749% apr. More Details.
Land 10 Year. as low as 5.500% rate. 5.772% apr. More Details.
Land 15 Year. as low as 5.625% rate. 5.818% apr. More Details.

[DFWPI]

Hey

Right sharpstick. I wasn’t considering one of their properties but any that I find. What’s the deal with the driveway that they require?

Have you reached out to a lender and spoken with them? That's what I would do first. I just got off the phone with two new clients that are looking to buy homes, first time home buyers, and that is the first thing I do/did, direct them to one of my preferred lenders.

[Hogmauler]

I have not. My in-laws used The veterans land board and was apparently satisfied with the rates. I thought/knew they were much higher than they used to be. This is a great forum to get information from. This the reason I started here.

[Froggy]

Unbeatable Rates for Texas Veterans
The Texas Veterans Land Board (Texas Vet) rate for the week of March 22, 2020, is 3.40%.
Texas Veterans with a service-connected disability of 30% or greater the current rate is 2.90%.

http://www.valoancenter.net/texas-vet-loans

https://valoanstexas.com/

[Hogmauler]

Daaaaaaannnnngggg! I’ve got to get my arse in gear!

[texan4ut]

Correct. My bad. The Veterans Land Board. So the advantage is less down and a smaller interest rate. But the less down the larger the note. Danged if you do danged if you don’t!

You can put down as much as you want and reduce the balance you borrow.

[duckhunter175]

This is what I found

Land Loan Interest Rates Texas
Finance the perfect spot for your dream home
Land Loan 4 year. as low as 4.750% rate. 5.365% apr. More Details.
Land 7 Year. as low as 5.375% rate. 5.749% apr. More Details.
Land 10 Year. as low as 5.500% rate. 5.772% apr. More Details.
Land 15 Year. as low as 5.625% rate. 5.818% apr. More Details.

What down payments were required at those rates and terms?

[Hogmauler]

Good question.

[Heath]

Make sure you reach out to Codie on there if you are looking for a land loan.

He does great work.

[DanielLee5]

7,25% is not low at all, I'd consider other options. I just finished reading clear path lending and I have to say I am rather disappointed, a lot of clients left negative reviews and complains. I wish I could find a deal for less than 5%.

[griffdpz71]

I bought 50 acres w/houses on it in concan financed through capitol farm credit. Down payment has to do with your credit score and if its excellent they only require 15% down instead of 20%.Interest rates also depend on your credit score. I can tell you capitol farm if you have excellent credit your interest rate will be well below 7.25%

[Chew]

Unbeatable Rates for Texas Veterans

The Texas Veterans Land Board (Texas Vet) rate for the week of March 22, 2020, is 3.40%.

Texas Veterans with a service-connected disability of 30% or greater the current rate is 2.90%.

http://www.valoancenter.net/texas-vet-loans

https://valoanstexas.com/

That's not a legit site. They're combining a bunch of info from different types of loans.

Texas veterans land board current rate is 6.95%.

https://vlb.texas.gov/loans/land-loans/index.html

I used them because of the no down payment. Pay a lot extra each month to avoid the high interest.

They were picky on the surveys of the property and the 2 mile private road/easement. You have to show legal access to the property. Cant be landlocked.

[Jmh05]

So we are in a holding pattern to buy/build. We are thinking more in the range of $400K...can you still use the Veteran's land board for $150 then get another loan or does it not work that way?

We are FNG's to this whole home buying/building situation. Learning as we go.

[Cookiemonster1]

Hogmauler VA Loans have gotten better but still have a ways to go to treat our Veterans as they deserve. I live near the largest Military Base in the World and we do very few VA Loans. You also will put money down its just worded different in my experience.