Grants for Agencies from the VA
The VA Home Loan Guarantee Program not only offers help for Veterans to purchase homes, it also offers grants and per diem aid for agencies and investors who want to offer housing for homeless Veterans. In this way, the VA not only serves Veterans who are able to purchase a home, but also those Veterans who are in need of immediate housing assistance.
Veterans looking for help with this program are asked to contact the official VA.gov website directly for more help. Unfortunately, VA Mortgage Center.com cannot help you with this program.
Get Started With Your VA Loan Request
The VA offers grants to purchase and renovate transitional housing for homeless Veterans. Per diem funds are used for operational costs to run programs that serve Veterans in need. Grants can be used for capital purchases such as buildings, renovation materials, and services. Per diem funds cannot be used for capital expenses. In order to get per diem funds, you must first be approved for grant funding. Both the grant and per diem funding programs have rules for how to apply, who can apply, and what the funds can be used for. Some important criteria to note include the following:
- Up to 65% of the cost to purchase, construct, and renovate housing for homeless Veterans can be requested through the VA Grant Program
- The supportive housing must service a minimum of 75%
- Once a program has been established for supportive services for Veterans, the program can apply for money to purchase vans to use as transportation to the services offered
- If you already have assistive housing and are applying for a grant to pay off the mortgage, you can receive the grant as long as the lender specifies the mortgage is eligible to be pre-paid.
- You cannot use grant funds to lease any building: funds are only for the purchase of buildings
- You cannot use grant money to purchase or renovate buildings that you plan to turn ownership of over to a Veteran. The grant program is designed to provide funds for transitional housing for homeless Veterans, not to provide permanent housing.
- You can charge the Veterans who live in your transitional housing rent as long as they have an income and the rent is not higher than 30% of their monthly income
- Per diem funds are awarded to programs that have already received grants form the VA or programs that are already established and whose clients consist of a minimum of 75% Veterans.
- If you have received grants from the VA you will automatically be considered for per diem funding
It is important to know that there are specific application deadlines. Make sure you follow all of the application procedures accurately and turn in your grant or per diem funding requests on time. To find out what the deadline for application, is go to the GPO Access Site or call 1-877-332-0334.
For more information on the grant and per diem programs and the funding available, contact your local VA Regional Service Center.
The VA Home Loan Program provides valuable opportunities Veterans can take advantage of on the path toward homeownership.
See a related article: Learn More About Repairing Credit Before Obtaining a VA Loan
VA Loan Specialists
We are the online VA Loan Specialists. It is our goal to ensure that your VA Home Loan process goes as smoothly as possible. Let us help you get the process started online today, or call us at 800-405-6682.
Have A Question?
If you need advice concerning Veteran Home Loans, feel free to contact a VA Mortgage Specialist online or call 800-405-6682. Specialists can help determine whether a Veteran Home Loan is the best financial decision for you.
