How to Apply:
Information on VA Home Loans
If your mortgage is either VA Guaranteed or FHA Insured and you sold your house on a private sale by an assumption of the existing mortgage, we suggest that you request a release of liability from either VA/FHA, depending on the type of mortgage.
If your buyer is not acceptable to VA or FHA, you will not receive any HAP benefits until you obtain a release of liability.
Please note that all of these documents are necessary to help in expediting your application.
Sell or not sell?
A key part of the process is your continued effort to sell your house privately, at the best possible price. If your HAP application is approved and you meet all the eligibility requirements, you will be paid an amount up to the difference between 95% of the Fair Market Value prior to the BRAC public announcement and the sales price for BRAC Impacted Personnel or the difference between 95% of the prior fair market value and the sales price for Wounded, Injured, or Ill and Surviving Spouse applicants.
Additionally, some of the costs for selling your home privately may be reimbursed to you.
Since HAP will not reimburse you for the total loss in value, it is to your advantage to sell at the best price possible.
Download the HAP Tax Exemption