For U.S. military veterans, adjustment to civilian life can be challenging. One of the biggest challenges is finding a place to live and to lay down some roots. Homeownership can seem like a distant dream, yet there are a few programs that can make it more attainable.

These programs are available exclusively to those who have served our country—whether in active duty, in the Guard, or in the Reserves. In this post, we’ll highlight a few home-buying programs every veteran should know about.

VA Loans

The most obvious one is the VA loan—a home mortgage that’s only available to those who’ve been in the military, and also to some military spouses. VA loans exist to make homeownership more attainable to vets, and they come with a host of benefits:

• You can qualify for a VA loan even if you have a bad credit history, including foreclosures and bankruptcies on your record.
• You can get a loan without having to make a down payment, and there’s no need to secure mortgage insurance.
• VA loans will generally come with low interest rates and flexible terms.

If you’re a veteran and you’re looking for home-buying experience, this is absolutely the best place to start.

Housing Grants

Additionally, the government offers a numbers of housing grants, which can help veterans to afford their down payments and to contend with the other costs of homeownership. You can contact the VA directly to learn more, but note that many of these grants are specifically for vets who have service-connected disabilities.

So, if you have any kind of ongoing injury or impairment due to your military service, be aware that there may be some housing benefits you can qualify for.

Military Housing Assistance Fund

A final program to be aware of is the Military Housing Assistance Fund, a non-profit that’s dedicated to helping service vets find affordable housing. In particular, the MHAF helps cover the closing costs of a new home, which can sometimes be a sizable amount—anywhere from two to eight percent of the total home sale price. You can ask your mortgage lender about eligibility for this program.

Every Vet Deserves a Chance at Homeownership

No matter your financial history or your credit score, there are ways for any military veteran to afford homeownership. The programs we’ve listed here are just the start; to find out more about some of the options available to you, or simply to ask us about current home interest rates for VA loans, reach out to our Los Angeles-based mortgage team today! We are always honored to speak with vets about their homeownership dreams.