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VHA GRANT DETAILS & APPLICATION INFORMATION

Veterans Housing Alliance (VHA) provides the opportunity to receive funds to assist a Veteran with “closing costs” for the first time home purchase. The Veteran must prove they need the assistance. The purchase must be the Veterans first home or show proof that they have not owned a home in the last three (3) years. If a grant is issued, the funds are then used to assist the Veteran as a first time home buyer to purchase a home. The funds will go to the escrow that is being used for the purchase of the Veterans home. It is important to provide the correct escrow information. Persons responsible to provide this information will be the Veteran, the Veterans Realtor or lender.

These guidelines describe key program requirements, processing procedures, rules for program staff, lenders, and applicants. These guidelines may be revised from time to time as necessary to address inconsistencies or unaddressed issues as they arise. The VHA will continue to fundraise and work to aid Veterans throughout the community.

However, once funds have been depleted, the Veterans Housing Alliance will make a community announcement suspending the program until further funds are raised or generated for the Veteran Housing Alliance (VHA) First Time Homebuyer Program.

PROGRAM DEFINITIONS

  1. First Time Home Buyer – An individual is to be considered a first-time home buyer who:
    1. is purchasing the security property;
    2. will reside in the security property as a principal residence; and
    3. had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property.
    4. In addition, an individual who is a displaced homemaker or single parent also will be considered a first-time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-year time period. See https://www.fanniemae.com/content/guide/selling/e/3/glossary.html
  2. Eligible Veteran – All Veterans who served on active duty a minimum of 90 days (not including active duty for training purposes only), whether during wartime or peacetime, are eligible.
    1. Eligibility also requires service under Honorable conditions and must have a Certification of Eligibility and/or 00214 form for Veteran Status Verification;
    2. There are no prior residency rules. A veteran may have entered service from the outside California. National Guard or reservists who have been ordered to active duty, including Active Guard/Reserve (AGR) duty eligible.
  3. Principle Residence – A principle residence may be a detached single family house, condominium, manufactured home on real property owned by the applicant. The applicant is expected to occupy the Principle Residence.
  4. Disabled Veteran – Any Disabled Veteran who can prove that they have a “service-connected disability” by providing a VA Benefits award letter or any other certifiable documentation.

PROGRAM STIPULATIONS

  1. Applicants must be a Veteran and/or Disabled Veteran according to the guidelines outlined in the “definitions” section of this page.
  2. Applicants must be a first-time home buyer purchasing a principle residence (see “definitions” section of this page).
  3. Applicants must use a REALTOR® in Good Standing with CAR/NAR.
  4. Applicants must have a preapproval letter in place from a mortgage lender.
  5. Applicants must provide a letter of verification from the lender verifying that the lender has no issue with the VHA Grant Program.
  6. Applicants must show proof of an accepted offer and an opened escrow. The lender needs to provide proof the loan docs are going into escrow. This will prevent any price manipulation, once the deal is in escrow.
  7. Applicants must provide a letter, in his or her own words, giving their personal story and reasons for requesting the Grant.
  8. ALL GRANTS MUST HAVE THE MAJORITY APPROVAL OF THE VHA BOARD. Not all grant applicants will be awarded a grant. Each grant is decided on a case by case application, and reviewed by the VHA Board members. Veterans Housing Alliance (VHA) reserves the right to grant any and all funds.

PROGRAM PROCEDURES

PHASE 1

  • Submit grant application/package, all required documents and forms

  • Sign a statement verifying that the applicant is a First-Time Home Buyer (have not owned a home in the last 3 years)

  • Applicant must provide a Certification of Eligibility and/or 00214 Form

  • Applicant must provide a pre-approval letter from their Lender

  • Applicant must provide a letter of verification from the lender verifying that the lender has no issue with the VHA Grant Program

PHASE 2

  • VHA will confirm the Application has been received

  • The application will be reviewed within 15 Business Days

  • Notification of who is conducting Escrow and full contact information. It is the responsibility of the Veteran or Veterans Realtor to provide the escrow number and full address of the property being purchased

PHASE 3

  • Notification from Escrow that Loan Documents have been received

  • VHA Funds will be disbursed within 5 business days of application approval

  • In the event escrow is not completed, all VHA Grant funds are to be returned to the Veterans Housing Alliance; this grant is not subject to the Buyer/Seller Agreement

  • Once funds have been depleted, VHA will announce the program will be suspended until further funds have been raised

APPLICATION FORM

Step 1 of 3 - Definitions & Stipulations

  • Program Definitions & Stipulations

  • Program Definitions

    1. First Time Home Buyer - An individual is to be considered a first-time home buyer who:
      1. is purchasing the security property;
      2. will reside in the security property as a principal residence; and
      3. had no ownership interest (sole or joint) in a residential property during the three-year period preceding the date of the purchase of the security property.
      4. In addition, an individual who is a displaced homemaker or single parent also will be considered a first-time home buyer if he or she had no ownership interest in a principal residence (other than a joint ownership interest with a spouse) during the preceding three-year time period. See https://www.fanniemae.com/content/guide/selling/e/3/glossary.html
    2. Eligible Veteran - All Veterans who served on active duty a minimum of 90 days (not including active duty for training purposes only), whether during wartime or peacetime, are eligible.
      1. Eligibility also requires service under Honorable conditions and must have a Certification of Eligibility and/or 00214 form for Veteran Status Verification;
      2. There are no prior residency rules. A veteran may have entered service from the outside California. National Guard or reservists who have been ordered to active duty, including Active Guard/Reserve (AGR) duty eligible.
    3. Principle Residence - A principle residence may be a detached single family house, condominium, manufactured home on real property owned by the applicant. The applicant is expected to occupy the Principle Residence.
    4. Disabled Veteran - Any Disabled Veteran who can prove that they have a "service-connected disability" by providing a VA Benefits award letter or any other certifiable documentation.
  • Program Stipulations

    1. Applicants must be a Veteran and/or Disabled Veteran according to the guidelines outlined in the "definitions" section of this page.
    2. Applicants must be a first-time home buyer purchasing a principle residence (see "definitions" section of this page).
    3. Applicants must use a REALTOR® in Good Standing with CAR/NAR.
    4. Applicants must have a preapproval letter in place from a mortgage lender.
    5. Applicants must provide a letter of verification from the lender verifying that the lender has no issue with the VHA Grant Program.
    6. Applicants must show proof of an accepted offer and an opened escrow. The lender needs to provide proof the loan docs are going into escrow. This will prevent any price manipulation, once the deal is in escrow.
    7. Applicants must provide a letter, in his or her own words, giving their personal story and reasons for requesting the Grant.
    8. ALL GRANTS MUST HAVE THE MAJORITY APPROVAL OF THE VHA BOARD. Not all grant applicants will be awarded a grant. Each grant is decided on a case by case application, and reviewed by the VHA Board members. Veterans Housing Alliance (VHA) reserves the right to grant any and all funds.

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