Really want to purchase some lake front property. Not sure how to go about getting a loan for land or going for a Texas Veterans Land Loan. Anyone have experience with this?

aggie2812-2 said:

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Really want to purchase some lake front property. Not sure how to go about getting a loan for land or going for a Texas Veterans Land Loan. Anyone have experience with this?

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Guess I should have read this. I just asked a similar question.

To both posters above. Get some referrals here. Also ask for some referrals from the locals you are working with. They know the local market. It's not hard just ask.

The answer depends on a lot of factors:

1) How much land do you want?
2) how much do you want to spend?
3) What are you going to do with it?

aggie2812-2 said:

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Really want to purchase some lake front property. Not sure how to go about getting a loan for land or going for a Texas Veterans Land Loan. Anyone have experience with this?

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The Red Red Wine estate in Lago Vista is available for a cool $16.9M.

https://www.calazarca.com/

aggie2812-2 said:

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Really want to purchase some lake front property. Not sure how to go about getting a loan for land or going for a Texas Veterans Land Loan. Anyone have experience with this?

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I'm no expert, but I did help my parents with Texas VLB loan many years ago. The folks who administer the program were very helpful and friendly. The process wasn't hard at all.

One of the main requirements for a VLB loan is that the property must be at least 1 acre. The current max loan is $150K (with 5% down). I did a quick search of Lago Vista and there were a few lakefront properties that were at least 1 acre; however, the vast majority were less than 1 acre. I'm not sure how strict they are with this size requirement. If they are willing to be a little flexible, you would have more property options that would qualify for this loan.

There is a lot of helpful information available on their website (https://vlb.texas.gov/). Good luck!