Land Loans: ways to get a farm loan without any advance payment

Land Loans: ways to get a farm loan without any advance payment

The VLB Veterans Land Loan Program may be the just one of their sort when you look at the country, providing Texas Veterans and Military Members the possibility to borrow around $150,000 to buy land at competitive interest levels while typically requiring at least five per cent deposit for tracts of 1 acre or higher.

This system is not hard to utilize and provides Texas Veterans and Military members financing that is exclusive the acquisition of these very own bit of Texas. The bonds utilized to invest in this program are resigned from loan repayments in addition to price of administering this program is financed through a fee that is small for each loan.

LAND LOAN FINANCING

Land Loans – Veteran/Military interest 7.25percent

VLB provides financing on tracts as much as $150,000 with the absolute minimum five per cent advance payment and a fixed-rate loan term that is 30-year. The five per cent advance payment is at the mercy of credit approval.

A $325 assessment and agreement solution cost is born during the period of application. There is absolutely no penalty that is pre-payment.

You wish to purchase, consider the following options if you have not already identified the land:

  • View VLB land on the market open to the general public
  • Check out a house search internet site that lists land easily obtainable in Texas
  • Call VLB at 800-252-8387

When a Veteran, or their successor, has successfully paid a VLB land loan s/he may submit an application for another VLB land loan. The exact same pertains to our house and do it yourself loan programs. Continue reading “Land Loans: ways to get a farm loan without any advance payment”