VA Expands Its Housing Assistance Disability Grants
The Texas Veterans Land Board’s Housing Assistance Program (VHAP) exists to serve Veterans interested in buying a home. The program offers a special interest rate for Veterans who choose to apply through the program. This rate is offered at half a percent lower for Veterans with a VA disability rating of 30 percent or more.
To ensure as many Texas Veterans have the opportunity to take advantage of this resource, the VLB works with mortgage lenders who agree to offer our competitive interest rate which is updated weekly. Additionally, our participating lenders agree to do a minimum number of loans every year to Texas Veterans. Veterans can choose a VA, FHA, or conventional loan.
The U.S. Department of Veterans Affairs offers VA-backed home loans which also provide Veterans with several benefits. About 90 percent of Veterans who get a VA-backed loan aren’t required to put down a down payment. Because the VA is the loan insurer, Veterans aren’t required to purchase private mortgage insurance (PMI), resulting in additional savings to qualified Veterans.
But the VA does a lot more than provide a loan guaranty for Veterans when it comes to housing. The VA helps Veterans with serious, service-connected disabilities. Their Specially Adapted Housing (SAH) grants program assists the most seriously disabled service members and Veterans. The grants help pay for life-changing and independence-enhancing modifications and adaptation to their homes and residences.
In August 2020, “New changes to the laws that govern the administration of the SAH program offer an even greater opportunity for VA to fund these adaptations,” according to a recent VA blog. The enhancements are for three adapted housing grant types: SAH, the Special Housing Adaptation (SHA), and Temporary Residence Adaption (TRA).
Veterans or their family members who need to make home modifications and would like more information about the VA housing assistance disability grants should visit: https://www.va.gov/housing-assistance/disability-housing-grants/.
