The Texas Veterans Land Board, also known as VLB, is part of the

Texas General Land Office The Texas General Land Office (GLO) is a state agency of the U.S. state of Texas, responsible for managing lands and mineral rights properties that are owned by the state. The GLO also manages and contributes to the state's Permanent School Fund. T ...

. Created by the Texas Legislature in 1946, the board was established to make land available to veterans returning from

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

. Today, the organization finances land, home loans and home improvement loans for Texas

veterans A veteran () is a person who has significant experience (and is usually adept and esteemed) and expertise in a particular occupation or field. A military veteran is a person who is no longer serving in a military. A military veteran that has ...

and active military members who are eligible under VLB requirements. The board is composed of a chairman, who is the commissioner of the GLO (currently Commissioner

George P. Bush George Prescott Bush (born April 24, 1976) is an American politician and attorney who served as the commissioner of the Texas General Land Office from 2015 to 2023. A member of the Republican Party, Bush unsuccessfully campaigned for the party's ...

), plus two citizens — one specializing in veterans' affairs and one in finances. The citizen members are appointed by the

Governor of Texas The governor of Texas heads the state government of Texas. The governor is the leader of the executive and legislative branch of the state government and is the commander in chief of the Texas Military. The current governor is Greg Abbott, who ...

. VLB also owns and manages fou
Texas State Veterans Cemeteries
and th
Texas State Veterans Home Program
The veterans home program provides skilled long-term care to veterans and their spouses in eight veterans homes across Texas.

History

In 1954, a newspaper reporter discovered that many veterans, in exchange for money, were tricked into signing loans to purchase land in several

South Texas South Texas is a region of the U.S. state of Texas that lies roughly south of—and includes—San Antonio. The southern and western boundary is the Rio Grande, and to the east it is the Gulf of Mexico. The population of this region is about 4.96 ...

counties. Subsequent investigation of the General Land Office resulted in a major scandal. Texas Land Commissioner Bascom Giles went to prison for conspiracy to commit theft, becoming the first Texas state official to go to prison for a crime committed in office.

Land loan program

The basic requirements for an applicant to participate in the Veterans Land Program are as follows: # At least 18 years of age # A bona fide and legal resident of Texas on the date of application and meet one of the following service criteria: * An active duty military member * A member of the Texas National Guard * A reserve component military member having completed 20 qualifying years for retirement * Served at least 90 days of active duty days unless discharged sooner due to service-connected disability and not discharged dishonorably * A surviving spouse of a Veteran listed as missing in action or whose death was service-connected Eligible Veterans may finance up to $150,000 of land for tracts that are or greater. A minimum 5% down payment is required in addition to application and appraisal fees. The

interest rate An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...

for land loans as of February 2017 is 7.25%. Disabled veterans and surviving spouses may qualify for additional interest rate deductions for housing and home improvement loans.Veterans Home Loans
/ref>

Other programs

In 1983, th
Texas Veterans Housing Assistance Program
was created to offer up to $417,000 in home loan financing to Texas veterans. In 1986, th
Texas Veterans Home Improvement Program
was introduced to offer Texas veterans up to $50,000 in home improvement loans. Interest rates for VLB housing and home improvement loans are posted online weekly. Disabled veterans and surviving spouses may qualify for additional interest rate deductions for veteran home loans and home improvement loans. Th
Texas Voices of Veterans Oral History Program
was begun in 2008 as a means of recording and saving veterans interviews for posterity.

References

External links

Texas Veterans Land Board official site
{{authority control

Agriculture Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...

Veterans' affairs in the United States State departments of veterans affairs in the United States Organizations based in Austin, Texas 1946 establishments in Texas Government agencies established in 1946 Veterans' settlement schemes