The Carvajal Group Blog

Semper Finance

January 26th, 2012

As more of our troops start to return home there is a growing discourse on what the general “we” can do to help those who have risked everything to protect our country. The Carvajal Group is looking to lend our expertise on veteran benefits to help military families get the best deals possible on their Austin home search.

The state of Texas has the third largest veteran population with 1.7 million vets accounting for 12% of the population over the age of 18 – not including the 180,000+ reservists, guard and active duty troops. Texas is also one of five states to offer veterans benefits and they are the only one with a land loan program. Veterans are offered below market interest rate loans on home improvements, home and land loans as well as long-term nursing care and dignified burial benefits. A lot of these programs run through the good people over at the Texas Veterans Land Board (VLB,) who are an excellent source of information and assistance. Vets can use each of these programs more than once and can participate in all of them simultaneously provided that all of the properties are wholly located in the state of Texas (and subject to the standard credit approval) – however, VLB loans may not be refinanced.

Typically, the first question that comes to mind for most people when they hear about an advantageous program is “am I eligible?” All honorably discharged veterans (whose service began after 9/16/1940) with 90 cumulative days of active duty service or active duty training in the Army, Navy, Air Force, Marines, Coast Guard, USPH, any recognized reserve component or the Texas National Guard (unless discharged sooner because of service-related disability) are considered eligible. Vets need to be a resident of Texas with intent to remain in Texas – including Texas residents on active military duty outside of TX – and this extends to unmarried, surviving spouses as well. Lenders will require a “Notice of Eligibility” letter from the VLB and a verified DD-214 (discharge form) in order to move forward on these programs.

Whether you are a veteran on an Austin specific home search or open to any Texas-based home search, if you fit the eligibility requirements outlined above then you have a great opportunity waiting for you to take advantage of some outstanding home/improvements/land loan benefits.

Stay tuned for more info on these programs and head over to the Carvajal Group’s Facebook page “CG Supports Our Troops” and give us a ‘like’ to show your encouragement for our men and women in uniform.

If you’d like to learn more about what these programs have to offer or for more information on Austin Real Estate and assistance with your Austin home search, please call me at (512) 516-9110.

Tags: Austin Home Search · Austin Homes for Sale · Austin Real Estate · Austin Real Estate Market · Buying a home in Austin · Uncategorized