As part of our ongoing work to put homeownership within reach for more people, Habitat SKKC has launched a Veteran Down Payment Assistance (DPA) Program. Over the years spent working with veterans, we have learned that often the biggest barrier to homebuying for those applying for our program is too low of income to qualify for the loan amount. Habitat SKKC provides a way to lower their mortgage so that more veterans will be able to financially qualify.
Using the DPA, veterans can purchase a Habitat home and focus on building equity for their families. As homeowners, they’ll find the stability that they ensured for others when they served our country.
“I am excited to show my gratitude to veterans by offering them the stability, prosperity, and freedom that they fought to protect on all our behalf,” says Ali Sheibani, Director of Homeowner Services.
Habitat SKKC’s down payment assistance exclusively for veteran buyers includes:
- Up to $150,000
- 0% deferred loan due upon transfer/sale
Additional benefits of the Veteran DPA program include:
- Preserve VA Loan Benefits: Build equity in your Habitat home first, then use your VA loan on your next home.
- Prioritized Selection Process: Habitat SKKC prioritizes veteran applicants by reserving homes for veteran buyers and offering additional points in our selection process for veteran status.
- Step-by-Step Guidance: Buyers are assigned to a Habitat SKKC staff member who provides step-by-step guidance from loan-preapproval to the transaction and closing process.
The Veteran DPA Program is a pilot program that will support the next five veterans in our homeownership program. Our long-term goal is to establish a self-sustaining revolving fund that will continue to support veterans for years to come.
For veterans interested in applying for a Habitat home, visit buyhabitat.org.