Money to Help Vets Stay in Their Home

By Gae-Lynn Woods

The U.S. government offers grants and low-interest loans to help veterans stay in their homes. Some grants are designed to pay for housing modifications that will allow injured vets to remain at home; others will help with the cost of living.

Some states also provide emergency financial support for veterans that can be used to meet housing needs, and a variety of nongovernmental groups also offer support to veterans.

The Department of Veterans Affairs offers support to veterans who have suffered a disability through military service. Federal grants can help veterans modify their homes for barrier-free living, which helps vets obtain independence not available in unmodified homes. Home improvement projects can include: changes to widen hallways; modifications to bathrooms; changes to counter heights; carpeting upgrades to ease wheelchair movement; changes to garages or carports; and modifications to pathways, doorways and outdoor living spaces.

The Veterans Administration changed the program's guidelines in 2008, allowing eligible veterans to receive multiple home improvement grants. Rather than accessing the benefit once, veterans can use grant money up to three times, as long as the grants remain within legal limits.

Some states, such as Vermont, offer emergency financial support for veterans. The Vermont Office of Veterans Affairs and the Vermont National Guard's family support section offer funds that can be used to help veterans stay in their home and pay for utilities or to meet other needs.

Use the State Veteran's Benefits Directory at Military.com to identify the benefits provided by your state.

The American Legion and Veterans of Foreign War posts both work actively with vets to ensure their financial needs are met, and this can include support for housing needs.

USACares is a nonprofit organization that provides grants to help veterans. The group provides housing assistance and funds to meet basic needs such as utilities and transportation. Local houses of worship will also provide assistance to help veterans stay in their home. Many congregations devote a portion of their giving to supporting the specific needs of veterans.

The U.S. Department of Veterans Affairs backs loans for peacetime and wartime veterans, un-remarried spouses of veterans who died in service or due to a service related disability, and spouses of service personnel who are prisoners of war or missing in action.

VA loans are more favorable than conventional loans because they generally require no down payment, offer lower interest rates and limitations on closing costs, and do not require the payment of mortgage insurance. The VA also provides leniency to qualified borrowers who are having financial difficulties.

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