Do Veterans Get Free Housing?
As a Veteran, you are entitled to many state and federal benefits for your service to our country. Do Veterans get free housing? While a “free house” sounds great, it still would require some kind of financial commitment.
A top benefit is your ability to utilize a $0 down payment using a VA Loan. VA loans are issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).
How much money does that save you? It depends on the type of loan you are considering. For an FHA loan, the required down payment is 3.5% of the purchase price. If you plan to purchase a $400,000 home, your down payment cost would be $14k (400000*.035= $14,000). In contrast, you pay $0 with a VA Loan. Using a VA Loan means unlocking savings that no other loan option can offer.
What Other Costs Are Involved With a VA Loan?
If you are buying a home with a VA Loan, understanding what other costs will occur (closing costs) can be difficult to find answers on. The short answer is yes, you and your family will learn from your lender exactly what costs will come up and which ones you are required to pay. This is why we recommend you work with a lender who understands Veterans and their unique needs. It is important to do your homework and ask the right questions!
We Help Veterans Who Need Financial Assistance for Closing Costs
In conclusion, our organization was created on the principle of helping Veterans realize the dream of homeownership. If you are a Veteran who needs financial assistance in closing costs, you can apply for our Home Buyers Grant to see if you are eligible for a financial grant to aid in your home purchase closing costs.
As a result, we have been able to give thousands of dollars away to local Veterans. You can read about one Veteran who served in the Air Force for ten years and purchased her first home to be closer to her family.
Supporting Our Nations Heroes
If you would like to make a difference in a Veterans life today, consider making a donation to the Veterans Housing Alliance! You can directly support Veterans by selecting our “home buyers grant program” on our donation page.
Link to the donation page: https://vha1.org/donate/
Apply For Our Home Buyers Grant Today
If you are a Veteran who is looking to purchase a home now or in the next 6 months, feel free to contact us about being an applicant to receive funds during your close of escrow.
Learn more on our application page by Clicking Here.
If you are a lender or real estate agent working in the local area, contact us about how you can utilize these grants for your current and future clients!