Texas Veterans Land Fund

Created By

Texas Veterans Land Board

Contract cannot exceed _____years

Purchase Price cannot exceed $____

or ____% of final agreed price or 95% of _____ Value

Contract cannot exceed 30years

Purchase Price cannot exceed $80,000

or 95% of final agreed price

 or 95% of  APPRAISED Value

Texas Veterans Land fund

(Created by Texas Veterans Land Board)

Down payment of at least _____

and land must be  minimum size of _______

FIVE PERCENT DOWN PAYMENT

Land must be at LEAST an ACRE

Veterans Housing Assistance Program

aka VHAP

*Must be PRIMARY HOME FOR __ YEARS

Can it be used in conjunction of other loans?

How much can a Veteran borrow

Three years

Can be used with another loan

Up to $45k and VHAP is only note holder

If more than $45k VHAP and and other first lien lender shares 1st lien status

Veterans Housing Assistance Program

aka VHAP

What is loan to value ration on VLB loan

If VHAP LOAN

Does Vhap guarantee interest rate?

85% UP TO $45k

NO

Veterans Housing Assistance Program

aka VHAP

If VHAP LOAN used in conjunction with another convention 1st lien what is this loan called

A LENDER-ORIGINATED LOAN

(they will lend more then $325,000)

Downpayment will be determined by lender

1% Participation fee/1% origination fee payable to buyer/seller

(if combined with a VA loan no down for full eligible Vet)

Veterans Home Improvement Loan

Provides up to$_____ on a Fixed rate to make repairs

Loan Up to ____years

How Much down payment?__

Up to $25k in repairs and loan up to 20 years with

NO DOWN PAYMENT

(IF LESS THAN $10K BORROWED LOAN UP TO 10 YRS)

a REP MUST INSPECT

Veterans Home Improvement Loan

If the eligible vet need an emergency repair on home immediately this rapid home loan can get same say approval for a loan up to _____.

Texas Dept of  Housing and Community Affairs

periodically sells _____________

Raising money in financial markets at the _____ rates  available to state and municiple bonds

(interest paid is exempt from federal Income tax)

They pass the lower rate to home buyer so rates better than conventional loans

Periodically sells 

TAX-EXEMPT MORTGAGE REVENUE BONDS

 Raising money in financial markets at the

 LOWER INTEREST rates  available to state and municiple bonds

BOOTSTRAP Homebuilder Loan Program

Provides low interest mortgages up to

______

To low income texas families who agree to

___________

2/3 used to help impoverished border colonies and 1/3 will be available state wide.

Provides low interest mortgages up to

$30k

To low income texas families who agree to

help build their own home.

Home Investment Partnerships Program(HOME)

Provides Grants and loans to help local gov/non and for profit enties/public housing agencies provide safe decent housing to extremely-low income families.

Home allocates funds through 4 activies:

1. Home buyer assistance
2. Rental Housing development
3. Owner occupied housing assistance
4. Tenant based rental assistance

(15% set aside for community housing dev.organizations

and 10% set aside for special needs :homeless/elderly/aids/disabled)

Housing Finance Corporation

Texas  provided a way so local goverment units can authorize the creation of a Housing Finance Corp

This is a _______corporation that can sell ___

and use other methods to provide funding to local lending institutions for low/mid income

They can only be enable by a local governingn body such as a _____________

Texas  provided a way so local goverment units can authorize the creation of a Housing Finance Corp

This is a NON PROFIT corporation that can sell BONDS

and use other methods to provide funding to local lending institutions for low/mid income

They can only be enable by a local governing body such as a CITY COUNCIL

Fannie Mae Realtor Programs

Fannie mae Partnered with Texas Association of REALTORS

Created: Borrow with Confidence Program

What what it do.

Teach Realtors how to use Fannie Mae products

(similar to  program: Texas Dept of Housing and Community Affairs:Uniting Texas)

Texas State Affordable Housing Corporation

Provides a way for Texans who may not qualify through conventional channels

Who is eligible?

Fire fighters*Correction officer*County Jailer*Peace Officers

Get a 5% Grant toward down payment and low interest rates (5.99%)