As a realtor in Amarillo, I work alot with veterans, especially disabled veterans. Texas is one of the best states for these special people when it comes to real estate.
The Texas Land Board gives a discount to veterans below the going mortgage rate on homes and remodelling. The offer a third kind of loan, for land, at a set rate in the 7% range. If you are 40% or more disabled, you get an additional .5 discount. Last week this rate was 2.42%. Can you imagine how much this low interest rate saves you on mortgage payments over 30 years.
I am a preferred realtor with the Texas Land Board in Potter and Randall County, and I love working with this program.
There are only 3 lenders in Amarillo who do these loans, as they make less money on them. They are PrimeLending (who I usually use), Wells Fargo, and Herring Bank. I love working with Donna Presley on these loans, as she's an expert with these and can push them through in 30 days usually. They don't charge any points; although the Land Board charges 1%, and you can usually get your seller to pay your closing costs and include this in those costs.
The Texas Land Board will let you have one of each of the three loans at one time, and once you pay one of them off, like a remodelling loan, you can get that same kind of loan once again; and YOU NEVER USE UP any credits, as in VA.
The TLB also has cemeteries, nursing homes, and other benefits for veterans, and you only have to live in Texas one day to qualify. They will require some of your service documents, and you can find those on their website.
So call me, and let's get you into a new home at a low interest rate!!
Judy Dendy, Prudential Ada Realtors, 3300 Danvers, Amarillo, Texas 79106, 806-355-9601 or
806-672-3082.
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