TVLB

Eligible Texas veterans can obtain a below-market interest rate loan of up to $325,000* from the Texas Veterans Housing Assistance Program for the purchase of a primary residence in Texas. The housing assistance loan may be combined with a VA, FHA or Conventional loan program (certain restrictions apply).

To be eligible to participate in the Texas Veterans Loan Programs, an applicant must have:

served no fewer than 90 continuous days on active duty (includes active duty for training) in the Army, Navy, Air Force, Marines, Coast Guard or United States Public Health Service (unless discharged sooner by reason of a service-connected disability), or a reserve component of one of the listed branches of service; OR have enlisted or received an appointment in the Texas National Guard after completing all initial active duty training requirements as a condition of enlistment or appointment; OR have completed 20 years in a reserve component so as to be eligible for retirement.

served after September 16, 1940. (For housing or home improvement loans, certain interest rate incentives may be available to Texas veterans who entered the armed services before January 1,1977, and who have been discharged from active duty less than 30 years).

not been dishonorably discharged.

listed Texas as the home of record at the time of entry into the military OR must have been a legal resident of Texas for at least twelve consecutive months immediately prior to filing an application. The applicant must also be a legal resident of Texas at the time the application is made. (A "bona fide resident" is someone who is living in Texas with the intent to remain in Texas.) Presence in Texas solely to military service may not establish bona fide residency.

successfully repaid any previous Texas Veterans Land Board (TVLB) loan. A loan is considered repaid in full by the original veteran purchaser or last approved assignee. Any other active TVLB loans in programs other than the one for which application is being made must be good standing. Veterans are entitled to have only one loan in each TVLB program at the same time.

NOTE:The unmarried, surviving spouse of a Texas veteran who is MIA or who died in the line of duty or from a service-related cause may be eligible to participate in the programs. The veteran's home of record must have been Texas at the time of entry into the service, OR the veteran must have been a legal resident of Texas at the time of death.

1. Complete and submit the Request for Certification (Form 41) and Declaration of Eligibility (Form 42) to the TVLB.

2. Submit proof of military service. The following will be accepted as proof:

- DD214 (Member 4 copy) or discharge paper,

- Statement/Verification of service (require for active duty personnel; the statement must include home of record or state of legal residence for the last 12 months),

- Report of Separation, or

-Other documentation which proves home of record at time of entry into active duty, a discharge other than dishonorable, length of active service, and branch of service.

3. Determine if the proof of military service (DD214 of discharge paper) shows Texas as the home of record at the time of entry into active duty. If Texas is not shown as the home of record, the applicant must also complete and submit an Affidavit of Texas Residence (Form 43). Please note that "Place of Entry" is not considered proof of "Home of Record."

4. A Veteran may qualify for ADDITIONAL rate discounts off of the already below market rate if eligible for any of the following special programs:

A. Loan term of 15 or fewer years*

B. Qualified Veterans with Disabilities*

The Veteran must have a compensable service-connected disability of 50% or greater as verified by an Award Letter from the VA.

C. Qualified Service Era Discount*

The Veteran must have served on active duty prior to January 1, 1977 and have been discharged from active duty fewer than 30 years.

* For current rate discount info, go to www.texasveterans.com or call 1-800-232-8387.