The Veterans Housing Assistance Program (VHAP) provides reduce interest rate financing up to $325,000 toward the purchase of a home to qualified Texas veterans. Loans for $45,000 or less are originated through the Texas Veterans Land Board's (VLB) direct loan program.  There is an additional rate reduction of .5% over the Veterans Land Board currently published interest rate for qualifying service disabled veterans.

There is no maximum sales price with the VHAP; however, the VLB can only loan up to $325,000 towards the purchase. The VHAP must be originated in conjunction with Federal Housing Administration (FHA), Veterans Administration (VA), or conventional financing. Loans over $45,000 must be originated by a participating lender.  Advent Mortgage is a participating lender.

The VHAP is not a refinancing program. If you have an existing loan on your home, you cannot use the VHAP to lower your interest rate, nor can the VHAP be used as a down payment on a home. It can only be used as a first lien on your primary residence.

The term of the loan can be 15, 20, 25 or 30 years.

VHAP loans typically require an escrow account be set up for taxes and insurance.

Two married, eligible veterans may have only one active VHAP loan at one time.

All VLB loans are subject to credit approval.

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