Private lenders as well as Texas Veterans Land Board (TVLB) will make land loans in the Sanderson area. Private lenders have been
asking for about 20% down, 6.5% interest, on 10-15 year notes. As of this writing, TVLB is asking 5% down, 6.75% interest, on 30 year notes.
The Texas Veteran's Land Board (TVLB) is in the business
of financing land for qualified veterans. It is not
difficult to be qualified. The TVLB says that they are trying
to find reasons to say "YES" instead of "NO".
The current maximum land loan through TVLB is $100,000. Your down payment for a TVLB loan
must be at least 5% of the purchase price, in contrast to local banks who are asking for 25% or more.
For detailed information and application forms, look at the
following websites maintained by the Texas Veterans Land Board and
the Texas General Land Office.
TVLB LOAN PAGE
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