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What Will I Pay?

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Once approved, the VLB can lend the veteran the amount of the home's purchase price up to $417,000 with a fixed interest rate for 15-20-25- or 30-year terms. The VHAP must be originated in conjunction with Federal Housing Administration (FHA), Veterans Administration (VA), or conventional financing.

The VHAP is not a refinancing program. If you have an existing loan on your home, the VHAP cannot be used to lower your interest rate, nor can the VHAP be used as a down payment on a home. It can only be used to obtain a purchase money loan with a first lien on your primary residence.

The interest rate will be determined at the time the lender secures a rate lock. If more than one rate lock is obtained in a 12-month period, the highest locked rate will prevail.

The down payment, if any, will be determined by the lender along with all fees permitted for the processing and closing of mortgage loans. View Fees

A lender may charge the following fees. If you have questions whether a particular fee or charge is customary, appropriate or allowable, please call the VLB.

  • 1% Origination Fee *negotiable
  • 1% Participation Fee *negotiable
  • Realtor's Commission (usually paid by seller)
  • Hazard, Fire & Casualty Insurance
  • Taxes for all relevant taxing authorities
  • Flood Insurance (if applicable)
  • Title Insurance Premium
  • Attorney, Legal and/or Document Drafting/Review Fees
  • Closing Fee
  • Pest Inspection, if necessary
  • Tax Certificate Fee
  • Tax Service Fee
  • Prepaid Interest
  • Survey
  • Appraisal Fee
  • Recording
  • Flood Certification Fee
  • Overnight Delivery Service

Certain insurance requirements must also be met.  Learn More

Links to Additional Resources


VLB Help Line
1.800.252.VETS (8387)
VLB Help Line