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Home Improvement Loans


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VLB Home Improvement Loans

Home Improvement Loans
  • Originated directly through VLB
  • Up to $25,000 for a 20-year loan, or up to $10,000 for a 10-year loan
  • No down payment required
  • FHA-insured
  • Only for substantial improvements to primary residence
  • One-time closing with up front funding of full amount in four days
  • Quick loans available for health and safety repairs

Discounts may apply.
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Some improvements may not be eligible.
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NOTE: All VLB interest rates and available discounts are subject to change at any time. VLB Base Rate is subject to adjustment on the first business day of each week. All loans are subject to credit approval.

As part of its commitment to veterans, the VLB can help a veteran buy a home, then help pay to improve it through the Texas Veterans Home Improvement Program (VHIP). This program was introduced in 1986 to provide below-market interest rate loans to qualified Texas veterans for home repairs and improvements to their existing homes.

star Is your improvement project eligible?  Learn More

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Veterans Home Improvement Program (VHIP) loans may be assumed with the written consent of the Program Administrator and Loan Servicer, CitiMortgage, with the following conditions:

  • The veteran must have occupied the home as his/her primary residence for a period of three years from the date of completion of the home improvements.
  • An Assumption and Release Agreement (which provides for the eligible borrower to assume the veteran's debt) must be executed by the assuming eligible borrower.
  • The home improvement loan shall continue to be insured under all applicable insurance policies.
  • The assuming eligible borrower intends to use the home as his/her primary residence within 60 days after the home improvement loan is assumed.
  • All terms and rules of the VLB have been met and approval of the VLB has been obtained

star More Information About Your Home Improvement Loan

  • The home being repaired must be wholly located in the state of Texas.
  • The home must be the applicant’s primary residence.
  • Single family dwellings, condominiums, duplexes, triplexes and four-plexes are eligible. Duplexes, triplexes and four-plexes must be at least five years old. Modular or manufactured homes that are on a permanent foundation and are a part of the real estate (real property) may also be eligible, but the final decision on these types of loans will be determined by the VLB.
  • The VLB must be in a first or second lien position.
  • The veteran cannot advance any funds to the contractor or purchase materials prior to receipt of loan proceeds from the VLB. Loan proceeds will be available on the 4th business day after closing.
  • The VLB recommends that the veteran and the contractor enter into an agreement allowing the veteran to distribute funds from the loan as work progresses. The parties may draft their own agreement, including hiring an escrow agent. The agreement should provide for disbursals as the improvements are completed, including a final 10 percent (10%) disbursal 31 days after completion. The 10 percent (10%) retainage is to comply with statutory requirements to avoid liens by subcontractors.
  • All property improvements should be completed within six months from the date of disbursal of loan proceeds.
  • If the veteran is required to vacate the home while the improvements are being made, the veteran must re-occupy it within 60 days after completion of the construction.
  • The Home Improvement Program cannot be used for refinancing.