Question

Under the Texas Veterans Home Improvement Loan Program, veterans are permitted to borrow up to what amount for 20 years for an FHA-insured loan?

a) $10,000
b) $25,000
c) $50,000
d) $100,000

Answer 1

Veterans in Texas can borrow up to $25,000 under the Veterans Home Improvement Loan Program for FHA-insured loans for a period of 20 years.

Step-by-step explanation:

Under the Texas Veterans Home Improvement Loan Program, veterans are allowed to borrow up to $25,000 for 20 years for an FHA-insured loan. This program is part of a suite of benefits similar to those provided by the GI Bill, which significantly helped promote homeownership among veterans post-World War II. In fact, the GI Bill and associated programs increased the rate of homeownership and contributed to American middle-class growth following the war.