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What Will I Pay?
Home and Home Improvement Loans
Reasonable and customary charges permitted by law or regulation for the processing and closing of home improvement loans are allowed. Amounts are not shown for some fees as they are based either on the loan amount or a third party provider's reasonable charges for specific services (e.g. fee charged by closing agent).
The terms of the Texas Veterans Land Board (VLB) Home Improvement Program loans vary. Loans under $10,000 may be made for a term of two to 10 years. Loans from $10,000 to $25,000 may be made for a term of two to 20 years.
The loan is secured by a Deed of Trust which uses the veteran's home as collateral. The VLB must be in a first or second lien position. There is no prepayment penalty.
| Fee | Amount |
| Flood Certification Fee | $10.00 (due with application) |
| Title search report fee | $125.00 (due with application) |
| Recording fee | Varies (due at closing) |
| 14 months prepaid FHA insurance | 1 percent of loan (due at closing). Premium based on loan amount. |
| Prepaid interest | Varies (due at closing) |
| File servicing set-up fee (contractor pays) | $120.00 (due at closing) |
| Tax service fee | $65.00 (due at closing) Required on all VLB first lien position loans. |
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