The U.S. Department of Veterans Affairs offers many financial benefits for veterans wanting to purchase a home. There are even more specific benefits for veterans with qualifying disabilities. These options are important to know if you are interested in financing help to buy your dream home. Here is the most important information to know:
A major benefit of seeking financing through the VA are the special housing grants available to veterans with disabilities. These grants are for either purchasing or making major changes to your primary residence to accommodate a disability.
The two main types of VA housing grants are the VA Special Housing Adaptation (SHA) Grant and the VA Temporary Residence Adaptation (TRA) Grants. The SHA grant will provide financing for either purchase or major remodeling to further accommodate disability. TRA grants are specifically for funding temporary adjustments to a relative's home or other short-term residence.
Another important grant to know about is the Specially Adapted Housing (SAH) Grant, which offers assistance for building a brand new home. If you're planning on building your dream home from the ground up, this is the grant for you.
A key benefit of VA loans is the lack of down payment. However, VA loans do come with their own unique funding fee, which is usually mandatory. As a veteran with qualified disabilities, you can avoid paying the funding fee entirely. A funding fee exemption could save tens of thousands of dollars depending on the total amount of the loan.
Many states have special tax exemptions for veterans with disabilities. The requirements and actual amounts vary from one state to the next, but all can equal a sizable break on property taxes. To find out if your state offers this benefit, reach out to your local VA representative or visit their online resources. While not all states offer this type of benefit, the list of participating states is substantial.
I have provided award-winning service to many clients over the past 25 years. Few other REALTORS are as trusted as I am. My clients trust my advice, and they know that I always look out for their best long-term interests. You can expect, and you will receive personal service that is second to none. When you hire me as your Agent you work with me and only me. I will answer your calls and respond to your text messages. I promise not to hand you off to another member of "My team" like others do. When you hire Ryan, you get Ryan.
I have called Southwest Michigan home for 40 years. My mother's family ran a local locksmith service, and my father served as the Chief Investigator for the County's Prosecutor's office for many years. I love all that this area offers, and I enjoy serving the buyers and sellers who are moving in or out of Southwest Michigan.
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Ryan Arnt
Real Estate Broker/Company Owner
Keller Williams of Southwest Michigan
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