Policy

Policy. It is the policy of the Veterans’ Home Purchase Board to establish a waiting list for loan applicants in the time of unavailability of loan funds. During any suspension of accepting loan application requests, VHPB will establish a waiting list containing the veteran’s name, mailing address, work and home telephone number, date and time of addition to the list, disability (if any), and estimated loan amount. Applicants will be placed on the list in a first come first served order. Vietnam veterans and veterans with a disability rating of 50% or more will have first priority. Veterans with a disability rating less than 50% will be second priority on the list. Once VHPB resumes the process of taking applications, applicants will be notified by telephone or in writing that we are ready to accept formal applications. These applicants will be given the opportunity to make application or decline their initial request to be placed on the waiting list. Any applications received by mail during this time of suspension will be placed on the waiting list and the application returned with a letter of explanation. After the normal application process has resumed and if the waiting list is still being utilized, all applications received by mail and not already on the list will be placed at the bottom of the list according to their disability rating.