Explained | Veteran Land Board Land Loan | Ready Front Real Estate

For Home Buying or Selling Assistance - www.raoulrowe.com In this video, we're going to hit on the
Veteran Land Board Land Loan
. How to use it, what to look for

and what exactly
is going on when it comes to those Foreclosed Land that's only available
to Veterans
.
The VLB has Three Types of Loans:
Land loan, Home loan and Home improvement loan
, in which you as a veteran can have
all three of them out at once if your

qualifications and financial situations
allow it
.
Now at the time of this video, we're looking at the interest rate about
7.25%. In

order to well I say what makes the
Veteran Land Board special
, you only need 5% down up to
$150,000

a loan and the land has to be at least one acre
. If you go here on their website you
can see a couple more requirements in

order for this land to meet the
standards to get the loan

but those are the big ones right there
that you can just keep in the back of

your mind
.
Now, do you have to use your VA loan to

qualify for the Veteran Land Board Land
Loan?
The answer is NO. This land loan is
originated with the Veteran Land Board
. If it's a home loan, you'll have to
find a participating lender

and qualify for the VA loan itself along
with the
requirements to be eligible to use your
Veteran Land Board by being in Texas for

one day
.
All that good stuff what makes this

different from any other type of loan as far as when it comes to the land. I

was just getting some research the other
day

where somebody wanted a land loan not
necessarily going to buy

build a custom homeowner per se but
right off the bat

it was at least 20 to 25 percent down a minimum
of $150,000

and in a minimum of 24 months
they had to build a house

on that land, those stipulations don't
necessarily apply with the Veteran Land Board

although like I said earlier they do

come with some but
it's nothing like that and the main

difference is the down payment
5% versus 25% and the fact that you can

get this land loan on a 30-year term can
help free up a lot of capital that you

can use to build that custom home on down the line.
I hope this helped if

you have any more questions feel free to
email me at [e-mail]

and I look forward to the next video. Thanks



References: vlb.texas.gov/loans/land-loan...
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ABOUT ME:
Raoul Rowe US Army Veteran
Broker-CEO
Ready Front Real Estate
737-210-1690
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#AustinTexas #VeteranLandBoard #TexasVeterans #ReadyFrontRealEstate
FTC Disclaimer: This is not a sponsored video. As always, all opinions are 100% mine.

[@SJDJFJFSKSXNDJWJQI]

I want to do this but have no idea where to start. Where you find land? I'm located in Bexar county.

[@RaoulRowe]

Hey, you can find land on quite a few sites. I would first start with getting a good approval amount from the VLB or your land loan company of choice, this will help narrow your search. Shoot me an email when you have a chance, and I'll help with the land [e-mail]
Thanks,
Raoul

[@alantheusthompson5594]

how does a severance work? Is the severance pre-sale or post? Let's say 5 acres are priced at 150K. Could you buy the 5 acres at that price using the VLB land loand and then submit for severance of let's say 1 or 2 acres down the road or even immediately following closing and attempt to sell the severed acreage to cover cost of the land loan? I am of course assuming I can sell it more per acre than purchase price. Thanks

[@RaoulRowe]

If you are thinking of subdividing the land, this will happen after you have taken ownership of the land. Even after you do, you will need to run it by the VLB to get final approval. In some cases, a bank will allow you to subdivide while still paying a mortgage. Trying to do without the lender's approval will show up in Title and you will not be able to close.

[@joshdoty4731]

What requirements are needed to qualify as a farm & ranch contract? Does raw unimproved land with a ton of wildlife convey? Like a hunting ranch?

[@RaoulRowe]

Hey, here is a quick explanation - This contract is generally used for rural properties with metes and bounds property description from a survey and contains provisions to deal with items that are relevant to farms and ranches that are not specifically addressed in other types of contracts.
And here is Unimproved property - This contract form is for property that does not have physical buildings, additions or fixtures on the land. It is generally used for property that has been platted (has a recorded Lot/Block legal description).
Hope this helps!

[@johnmathew7694]

They charge more than 5% down people

[@RaoulRowe]

Interesting, don't get down payment mixed up with closing costs. Every real estate transaction has closing cost, which is a separate cost from a down payment. I'll look into this to see if anything changed.

[@faleshiamcclure6466]

Depends on your credit

[@isaiahpolobro]

Yes it does say 5% is the minimum, credit will may increase the down payment

[@kingjay_117]

Can I call you I need help with this

[@RaoulRowe]

Shoot me a quick email here - [e-mail] and then we can hop on a call. I want to get your question in front of one of my contacts directly with the VLB.