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Is a Texas Vet Mortgage loan right for you?
The Texas Veterans Land Board has excellent rates, and they are made available to Veterans who live in Texas through lenders participating in the Veterans Housing Assistance Program. They are commonly known as a Texas Vet Loans. The rates are set by the Texas Veterans Land Board and they are updated weekly.
Benefits of a Texas Vet Mortgage loan
Texas Vet mortgages are for 15, 20, 25 & 30 yr fixed rates, require no down payment and can go up to $510,400. Disabled Veterans and unmarried Surviving Spouses frequently qualify for an interest rate discount of 50 basis points (or half of one percent) on a Texas Vet Land Board mortgage.
Texas Vet Mortgage loan eligibility requirements
- The home will be the Veteran’s primary residence.
- The home is located in the State of Texas.
- The home is a single family attached or detached home, town home, condominium or planned unit development.
- Duplexes or other multi-family units must have been constructed at least five years prior to closing.
- New construction homes must meet the Environmental Protection Agency’s guidelines for ENERGY STAR® qualified homes, and must be ENERGY STAR® labeled and certified OR have a HERS Index Score of 75 or less following the RESNET National Home Energy Rating Standards and must have an energy rating Certificate that documents the HERS Index score of 75 or less.
