United States Department of Veterans Affairs
United States Department of Veterans Affairs

Homeless Veterans

Loan Guarantee Program for Transitional Housing

Program Application

The Program has a two-staged application process.  Stage 1 of the application is designed to allow assessment of a project’s eligibility and feasibility.  VA will invite Applicants whose Stage 1 applications are deemed eligible and feasible to submit Stage 2 applications.  Stage 2 applications must include credit reports and updated financial information on the project Sponsor, Developer, Social Service Provider and Contractor in addition to third-party reports such as appraisals, engineering reports and environmental assessments.  The information collected in the Stage 2 application is intended to enable VA to make a final determination about which applications to approve and guarantee.  Application submission and review timelines can be found in the NOFA.  The steps involved in the application process, from the issuance of the application to the issuance of the loan guarantee, are shown below:


ESTIMATED TIMING
Step 1:  VA issues the Notice of fund Availability.
 
Step 2:  Completed Stage 1 applications are submitted on a Rolling Basis.
 
Step 3:  VA reviews completed applications for eligibility and feasibility and notifies Stage 1 Applicants of questions or comments within 60 days of submission to VA.
 
Step 4:  Revised Stage 1 applications are due to VA within 60 to 90 days from date of notification.
 
Step 5:  VA either rejects the Stage 1 application or issues a conditional commitment and requests Stage 2 applications for facilities determined eligible and feasible within 60 days of receipt of revised application.
 
Step 6:  Stage 2 applications are due to VA  within 90 to 120 days of receipt of Stage 2 application
 
Step 7:  VA reviews and evaluates completed Stage 2 applications and notifies applicants of questions or comments within 60 days of receipt of Stage 2 application.
 
Step 8:  Revised Stage 2 applications are due to VA within 60 to 90 days of notification.
 
Step 9:  VA reviews and evaluates completed Stage 2 applications and recommends fund action to the Secretary within 60 days of receipt.
 
Step 10:  VA either rejects the Stage 2 application or issues a guarantee commitment within 60 days of submission to Secretary.

 
The timing we propose is based on the timing of the first two pilot loans.
 
 

 

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