Texas Administrative Code
Title 40 - SOCIAL SERVICES AND ASSISTANCE
Part 5 - TEXAS VETERANS LAND BOARD
Chapter 177 - VETERANS HOUSING ASSISTANCE PROGRAM
Section 177.5 - Loan Eligibility Requirements

Universal Citation: 40 TX Admin Code ยง 177.5

Current through Reg. 49, No. 12; March 22, 2024

(a) The Board shall be the final authority in defining and interpreting all eligibility requirements, and whether an applicant has actually satisfied those requirements. The Board may by resolution prescribe the procedures and forms to be used by applicants.

(b) For purposes of this program a veteran is a person who satisfies the requirements of Title 40, Part 5, Chapter 175, §175.2(c)(1) of the Texas Administrative Code relating to Loan Eligibility Requirements, as amended from time-to-time. The unmarried surviving spouse of a veteran shall be eligible to participate in this program if he or she satisfies the requirements of Title 40, Part 5, Chapter 175, §175.2(c)(2) relating to Loan Eligibility Requirements, as amended from time-to-time.

(c) A veteran may be able to obtain more than one housing assistance loan under this chapter, provided that all previous Veterans Housing Assistance Program loans have been repaid in full and that only one home may be financed by a veteran at any time. However, for purposes of this chapter, an eligible veteran may obtain both a purchase money loan and a home improvement loan under the Veterans Housing Assistance Program. An eligible veteran may also receive a loan under the land program.

(d) If both a husband and wife are individually eligible to participate in the program, nothing herein shall be construed to prohibit them from applying for a loan to jointly purchase the same home. The Board may make a loan for the purchase of the same home by two veterans who are husband and wife, but only in the event that both spouses together satisfy the loan qualification requirements of the participating lending institution. The total amount of this loan shall not exceed the maximum amount allowable for a home mortgage loan through the United States Department of Veterans Affairs or any successor agency.

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