Home Improvement Loan Limit Increased to $50,000

The Texas Veterans Land Board (VLB) has offered Texas Veterans and military members low interest rate financing for home improvements for 30 years. We’re pleased to announce that the VLB has doubled the maximum home improvement loan amount to $50,000 for qualified borrowers for improvements to their primary residence.

Loans up to $25,000 will continue to be insured by the Federal Housing Administration (FHA) and require the borrower to pay mortgage insurance. Loans over $25,000 will be “self-insured” and limited by the amount of equity the borrower has in his or her home. For example: the remainder of the mortgage owed, plus the home improvement amount, cannot exceed the appraised value of the home. The VLB will use the county tax appraisal to determine the value of the home, unless the borrower pays for a market appraisal.

Click here to find a list of eligible and ineligible home improvement projects.

Frequently Asked Questions

How is the $50,000 home improvement program different from the $25,000 home improvement program?
The loan amount will be determined by the property value-equity in the home. A county appraisal assessment will be used to determine the value of the home. There is no FHA insurance premium added to your monthly payment.

Is the credit criteria different for the $50,000 home improvement program?
No. The HUD underwriting guidelines used in the the $25,000 home improvement will also be used in the $50,000 program.

Are the eligible and ineligible improvements different for the $50,000 home improvement program?
No. The eligible and ineligible improvements are the same as those for the $25,000 home improvement program.

Are the application forms or legal documents different for the $50,000 home improvement program?
No. The forms are the same as the $25,000 home improvement program.

If you have an existing application in process for the $25,000 home improvement program can you switch to the $50,000 home improvement program?
Yes, as long as your home improvement loan has not closed.

When are the inspections completed?
The first inspection is completed three business days before or after the loan is closed. Once the Veteran notifies the VLB that all improvements are finalized, an order for inspection is requested. This second inspection typically occurs within two weeks of the notification, but all projects and inspections must be finished within a year of the closing date.