Texas VHAP

The Texas Veterans Housing Assistance Program helps Texas Veterans and Military Members to purchase a Texas Property. Eligible individuals may obtain a low interest loan with little to no down payment. The loan amount can reach $726,200 with fixed rate loans lasting 15, 20, 25, or 30 years.

To qualify, you must be at minimum 18 years of age and a Texas legal resident. You can also meet one of many service criteria such as being on active military duty, in the Texas National Guard and/or a Veteran with at least 90 active days, except if discharged due to an injury or disability.

In order to qualify for a loan, the property must be used as the Veteran’s or Military Member’s main residence in Texas. This can be either a detached or attached single family home, a condominium, rented or owned, or leased. To Buy a Texas Duplex or Multi-family Units must be 5 years or older, while new homes need to have ENERGY STAR or HERS Index score 75 or under, or Energy Rating Index 75 or below. The home has to be the primary home of the Veteran/Military Member for 3 years. Also, the borrower needs to move in within 60-days after the loan closes.

Veterans who are VA service-connected disabled and have a rating of 30 percent or higher can qualify for a reduced rate. Veterans and Military Personnel are limited to one active loan for each program at any time. This includes land, home, or home improvement. Once the Veteran or their successor has successfully repaid his VLB, they are eligible to apply for a second VLB.

VLB interest rate and discount options are subject to changes at any given time. VLB loans also require credit approval. The program’s self-funding is done through bonds.

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