Gov't Backed Loans: FHA, VA, and Texas Loan Programs

Question 1

What does FHA stand for?

Answer 1

The Federal Housing Administration

Question 2

What does FHA do?

Answer 2

Provides low-down payment, fixed-rate 10-30 year loans or 1 year adjustable loans via lending institutions

Question 3

What does DVA stand for?

Answer 3

The Department of Veterans Affairs

Question 4

What does DVA do?

Answer 4

Provides loans to veterans where the VA agrees to guarantee the top portion of the loan

Question 5

How much does the DVA offer?

Answer 5

Calculated up to 25% of the home loan amount up to $104,250

Question 6

What does VLB stand for?

Answer 6

Texas Veterans Land Board

Question 7

What does the VLB do?

Answer 7

Provides another alternative in the form of special assistance programs for home and land purchases to assist Texas vets in purchasing a home with a low-interest rate loan with little or no money down

Question 8

What does TDHCA stand for?

Answer 8

Texas Department of Housing and Community Affairs

Question 9

What does TDHCA do?

Answer 9

offers mortgage loan funds and down payment assistance to eligible first-time homebuyers. Eligible homebuyers are offered mortgage loans at more competitive, fixed, low-interest annual percentage rates with down payment and closing cost assistance of 5% of the mortgage loan for first-time homebuyers.