Veterans can purchase land for 5% down
(March 5, 2014—Austin, TX) SouthStar Communities is the largest single producer of land loans for veterans th
rough the Texas Veteran Land Board (TVLB), an organization that helps Texas veterans achieve land ownership with low-interest, long-term land loans for just 5% down, the lowest in the state. SouthStar grossed 39 homesite sales that qualified for TVLB loan financing in 2013, reflecting over $2.9 million in volume.
“SouthStar Communities prides itself in having land professionals who are experts in TVLB financing,” said Thad Rutherford, Chief Operating Officer of SouthStar Communities. “We have a history of supporting veterans in all of our communities across Texas and we love having veterans as neighbors. In fact, our Vintage Oaks community in New Braunfels is the largest selling community for Texas Veteran Land Board loans in the state.”
The San Antonio/Central Texas area is a top market for TVLB loans and Comal County is the TVLB’s largest source with 100 loans last year.
“We value the contributions of these land brokers, estate communities and participating lenders who helped Texas veterans find, finance and purchase a little piece of Texas on favorable terms through the VLB’s land and home loan programs,” said VLB Executive Secretary and Deputy Commissioner Bill McLemore.
Details of the Texas Veterans Land Loan Program Include:
- Land purchase of at least one acre
- Maximum land loan up to $100,000
- Minimum 5% down payment
- 30-year, fixed-rate loans
- Available to “bona fide” residents of Texas who have served in any of our country’s five military branches (Army, Navy, Air Force, Marines, National Guard)
- Special discounts for Disabled Veterans and Unmarried Surviving Spouses
SouthStar also partners with Operation FINALLY HOME, a non-profit organization who provides mortgage-free, custom homes for wounded veterans who need a helping hand to get their life back on track. To date, SouthStar has provided land in its Texas communities for 10 American heroes to receive a mortgage-free home.
SouthStar is promoting the veteran land loans in all of its communities near Dallas, Fort Worth, New Braunfels and Bryan-College Station. Vintage Oaks is a 3,300-acre community in the Texas Hill Country; King Oaks is a 950-acre custom home community just four miles from Bryan-College Station; The Reserve at Sugar Tree is a master-planned community on the shores of the Brazos River just 12 miles from Weatherford, Texas; and Lake Ridge, located at Joe Pool Lake in Dallas, spans more than 3,000 acres of custom homes with everything from hilltop, lake view, wooded and pond front properties available.
About Texas Veteran Land Board:
Texas veterans benefits are the best in the nation. The Texas Veterans Land Board was formed in 1983 to recognize and reward Texas veterans for their service and serves more than 1.7 million Texas veterans of all ages. The VLB offers below-market interest rate loans for land and home purchases, as well as for home improvements. For more information call 1-800-252-VETS (1-800-252-8387), or visit www.texasveterans.com.
About SouthStar Communities:
SouthStar Communities is a residential real estate development company with master-planned properties throughout the Sunbelt. The company is affiliated with SouthStar Development Partners, and led by president and CEO J. Larry Rutherford, who has worked in all areas of real estate and homebuilding for nearly four decades. Since 1999, SouthStar has developed 20 communities throughout Florida, Texas, Georgia, North Carolina and South Carolina. The company specializes in every stage of real estate acquisition, permitting and development, from government relations to design and project management.