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VLB Land Loan FAQ

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Q. Are land loans assumable or transferable?
A. Your loan may be assumed by any person or entity after you have held your loan for three (3) full years. If the loan is assumed by a non-veteran or entity, it may be subject to a higher interest rate. All assignees must qualify financially.

Q. Do I have to live on the land?
A. No. Living on the land is not a VLB requirement.

Q. Can a non-veteran apply for a VLB land loan? 
A. Yes, non-veteran financing is only available on Type II Program tracts. VLB can provide financing to non-veterans at an interest rate one percent higher than the current veteran rate.

Q. What is the income requirement for consideration of a loan?
A. There is no minimum requirement. Each loan is reviewed on an individual basis.

Q. Do I have to submit a new survey with my credit application?
A. No. A copy of an existing Field Note description of the tract with the Surveyor's Official Seal and Signature (original or copy), or, a complete copy of the recorded subdivision plat if the description is by Lot & Block, is sufficient. If a new survey is required, do not order and submit it until after your loan is approved and we request the new survey.

Q. Can a veteran have more than one VLB loan at a time?
A. Yes, its possible for a veteran to have one active loan in each loan program - land, home and home improvement programs - at the same time.

Q. Am I required to meet the appraiser and walk the tract?
A. Veteran purchasers are no longer required to accompany a VLB appraisal representative on a physical inspection of the land to be purchased, but may do so at their option.

Q. Can I appoint an attorney in fact to act on my behalf at closing?
A. No. If you wish, you can hire an attorney to counsel you, but you must personally sign all documents.

Q. If I cancel my application will I get any of my money back?
A. Yes. Any money submitted to VLB that has not been used for fees at the time you cancel will be refunded to you.

Q. Is there a penalty if I pay off the loan early?
A. No. There is no prepayment penalty.

Q. Can my spouse or another veteran and I combine our eligibility and purchase the same tract?
A. No. You and another veteran (including your spouse) cannot purchase undivided interests in tracts of land. You can, however, purchase adjoining tracts under two separate loans.

Q. Is it all right to sign additional contracts regarding the tract?
A. You should never enter into any other agreement that contains provisions inconsistent with the contract forms in the application packet, i.e., an earnest money contract or escrow agreement with a mandatory closing date of less than 90 days.

Q. How can I check on the status of a pending application?
A. To check on the status of your loan, contact the VLB.

Q. Can the land loan be used to finance mobile homes or shell homes?
A. No. Mobile homes and shell homes are not allowable purchases under the land loan program.

Q. Can the VLB finance commercial property?
A. Due to bond restrictions, commercial property is ineligible for VLB financing.

Q. How can I get help filling out my application or if I have any questions?
A. Contact the VLB at 1-800-252-VETS (8387) for any assistance you need or come by our office in the Stephen F. Austin Building at 1700 North Congress Avenue, Austin, Texas 78701-1496. Information specialists are available to assist you Monday through Friday from 7:30 a.m. to 5:30 p.m.

Q. I have a land loan. I understand that the servicing of that loan is no longer handled in Austin, Texas. What is the contact information for the new servicer?
A. To contact our servicer by phone: 1-866-654-6345. By mail: Texas Veterans Land Board, 1 Corporate Dr., Suite 360, Lake Zurich, IL 60047-8945.

Links to Additional Resources


VLB Help Line
1.800.252.VETS (8387)
VLB Help Line