Home Loans

In 1983, the Legislature created the VLB Veterans Housing Assistance Program (VHAP), to aid Texas Veterans in purchasing a home.

Eligible Texas Veterans and Military Members have an opportunity to purchase a home with a competitive, low-interest loan with little or no down payment. Veterans, Military Members and their spouses may receive up to $766,550 on a fixed-rate loan for 15, 20, 25 or 30 year terms*. Veterans with a VA service-connected disability rating of 30% or greater qualify for a discounted interest rate.

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Home Loan base rate %; discounted rate %

REQUIREMENTS

To qualify, homes must meet the following requirements:

  • The home must be the Veteran or Military Member's primary residence in Texas.
  • The home must be a single family attached or detached home, townhome or condominium.
  • Duplexes or other multi-family units must have been constructed at least five years prior to the closing date of the loan.
  • New homes must have either ENERGY STAR certification, HERS Index score of 75 or less, or Energy Rating Index of 75 or less.
  • The home must remain the Veteran or Military Member's primary residence for at least three years, and the Veteran or Military Member borrower must occupy the home within 60 days after loan closing.

The VLB does not offer to refinance. If you have an existing loan on your home, the VLB cannot provide refinancing to lower your interest rate, nor can the VLB Veterans Housing Assistance Program be used for a down payment on a home.

The VLB Veterans Housing Assistance Program provides Veterans and Military Members with loans, where VLB is in first lien position of the primary residence. It’s possible for a Veteran or Military Member to have one active loan in each program — land, home, and home improvement — at the same time.

Once a Veteran, or his or her successor, has successfully paid off a VLB home loan s/he may obtain another VLB home loan. The same applies to the VLB Land Loan Program. All VLB programs are self-funded, using no public taxpayer funding. VLB programs are financed with bonds, which are serviced by loan payments from Veteran and Military Member participants.

*All VLB interest rates and available discounts are subject to change at any time. The VLB base rate is subject to adjustment on the first business day of each week. All VLB loans are subject to credit approval.

VETERAN ELIGIBILITY

To be eligible for VLB loan programs, Veterans and Military Members must be:

  • 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.
    • A Veteran having served at least 90 active duty days unless discharged sooner due to a service-connected disability and not discharged dishonorably.
    • A surviving spouse of a Veteran listed as missing in action or whose death was service connected.

Military Service Documents

SCRA Assistance