According to the National Alliance to End Homelessness, there were 39,471 veterans living on the streets of the United States as of January 2016. A study published in the Epidemiologic Reviews journal shows that the strongest risk factor in veteran homelessness is substance abuse and mental illness, often a cause of PTSD, followed by lack of income and other factors relating to low incomes.
There are dozens of charities and foundations in the US committed to ending active-military and veteran homelessness; but often this help is not being accessed due to lack of awareness by military personnel and veterans. In this article, we list just some ways in which these heroes can be helped with their housing cost through schemes to thank them for their service and help them financially as they transition back into civilian life.
The VA Home Loan Program
Established in 1944 by the Department of Veterans Affairs (VA), this loan program is still not being used to its full potential, as it has been found that some soldiers and veterans are not aware of its existence.
It is a special mortgage loan available to qualifying military personnel, offering lower interest rates than typical mortgages and requires no down-payment. The program also erases some of the closing fees that come as part of a normal house-buying process.
Most current and former servicemen and women are eligible; though there are some requirements about service length and the era in which you served. For example, you are eligible for a VA loan if you served 181 days during peacetime, but around half of that time at 90 days if you served during wartime. There are also stipulations around service pre- and post-Vietnam era.
It may also be available to spouses of military personnel killed during service, though only under the somewhat outdated condition that they do not remarry.
This 100% financed loan offering zero mortgage insurance is a very attractive deal that should be researched and carefully considered by qualifying service-people.
Homes for Heroes
This company are a network of affiliate housing specialists and business affiliates across the US who work to provide savings for veterans buying and selling homes, plus discounts on home-related purchases, for all kinds of service-people. Homes for Heroes Inc. was established in 2002 to thank military personnel and veterans, law enforcement officers, firefighters and teachers for their services to their country, and ease some of their financial worries. They also run a charitable foundation to further help heroes in need.
To be eligible for savings when buying, selling or refinancing a home, you must sign up via their website through a quick process which asks what ‘Hero Experience’ you have (which service occupation you have been employed in). After this, you will be contacted by the company’s affiliate partners who will arrange discounts. A hero can save up to $3,500 through this program. There is plenty of information and FAQs on their website – reach out today to learn how Homes for Heroes can help you save.
United Service Organizations
The United Service Organizations (USO) is a non-profit organization chartered by the US Congress, providing a whole host of free services to military personnel and their families since 1941. They aim to help soldiers transition back into civilian life with the support of hundreds of military charities. As well as housing assistance, they connect service-people with counseling, care packages, internet access, libraries, education and much more.
HUD-VASH Housing Program
This joint program was created by the US Department of Housing and Urban Development (HUD) and the Veterans Affairs Supportive Housing Program (VASH), and is aimed at housing veterans who are currently homeless. It provides housing vouchers, case management and support for those who find themselves living on the streets after their military service.
Their eligibility requirements are based on some assessment of income, healthcare eligibility and homeless status. In the past this program was only open to those suffering from mental illness or substance dependency, but they now help homeless veterans of any background.
Since 2008, Congress has granted $75million in housing vouchers. If you or someone you know is a homeless former service-person, contact the HUD-VASH Program today to see how they can benefit your case.
