AUSTIN – The Veterans Land Board (VLB) has increased the VLB home loan amount from $647,200 to $726,200.
All qualifying veterans will continue to receive a competitive interest rate, and veterans with a Veterans Affairs (VA) service-connected disability rating of 30 percent or greater still qualify for a discounted interest rate.
Eligible Texas Veterans and Military Members can now apply for VA, Federal Housing Administration (FHA), or conventional financing using the Veterans Housing Assistance Program (VHAP) and a VLB participating lender.
Veterans who use VA-backed home-buying benefits along with a VLB home loan may be eligible for a home loan with no down-payment and no private mortgage insurance (PMI). VHAP can be used to purchase a single-family attached or detached home, townhome, or condominium. Veterans can use VHAP more than once.
For more information about the home loan program and a list of VLB lenders, visit the VLB website.