The U.S. Department of Veteran Affairs has created several home-buying programs for veterans.
The U.S. Department of Veteran Affairs (VA) offers several home buying grants to veterans, including one that assists with the construction or renovation of housing for transient veterans. Disabled veterans may also take advantage of the Specially Adapted Housing Grants (SAH), which assist in the renovation of a veteran’s home. Additionally, the Expanded Homeowners Assistance Program financially assists veterans and others in selling their homes when a military base must be closed.
Transitional Housing Assistance
The VA offers grants for purchasing and renovating transitional housing for homeless veterans, according to the VA Mortgage Center's website. Grants can be applied to the cost of renovation materials, as well as to the purchase of buildings and services provided to homeless veterans. The VA must approve all applications for funding. Applicants many only put the grant toward the purchase of a building; the funds cannot be used to lease a building, even if it is used to assist homeless veterans. A veteran living in such a facility may have to make a monthly rent payment, but this amount cannot be higher than 30 percent of his monthly income.
Specially Adapted Housing Grants
Specially Adapted Housing (SAH) Grants provide funds to eligible disabled veterans for the construction or renovation of homes suitable environment for the daily needs of a disabled veteran. According to the U.S. Department of Veteran Affairs' website, the goal of this program is to provide a barrier-free living zone for the veteran. Additionally, SAH grants may be used outside of the United States, but must meet certain VA guidelines. These grants provide eligible veterans with up to 50 percent of the total cost of the specially-adapted house. The actual cost will be adjusted yearly, based on current construction prices. Veterans can apply for an SAH grant a maximum of three times; the grant amounts are increased yearly.
Expanded Homeowner's Assistance Program
The Homeowner's Assistance Program (HAP) was created in 1966 to financially assist military homeowners when a real estate market is negatively affected by a military base closure. According to the U.S. Department of Defense's website, the Expanded Homeowner's Assistance program now includes coverage for wounded military veterans, surviving spouses of military veterans and other federal and military employees. Applicants must have a need to relocate from their current primary residences in order to seek medical treatment or due to medical retirement because of a military-related illness or injury. According to the website Military.com, the Homeowner's Assistance Program provides relocation services, with a guaranteed house buyout so that veterans and active military members may sell their homes for relocation purposes.
Tags: Homeowner Assistance, Adapted Housing, Adapted Housing Grants, Assistance Program, Department Veteran, Department Veteran Affairs
