The Federal Home Loan Bank of Dallas has expanded eligibility for the Housing Assistance for Veterans program.
The program, which has been available only to veterans, active-duty, reserve or National Guard service members who became disabled as a result of their military service since Sept. 11, 2001, will now include service members who became disabled as a result of their military service since Aug. 2, 1990, according to a release.
“With this expansion, more disabled veterans and Gold Star Families will qualify for assistance for necessary home repairs or for down payment and closing cost assistance,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.
HAVEN, which is awarded through participating FHLB Dallas member institutions, provides up to $15,000 per qualifying household. FHLB Dallas has allocated $300,000 in HAVEN funds for 2023, which member financial institutions may access to assist eligible applicants on a first-come, first-served basis.
Recipients may use HAVEN funds to: Modify, repair or rehabilitate an existing home or one they plan to purchase to meet the needs of a U.S. veteran or service member; offset construction costs of a newly constructed house; pay for third-party inspection and developer fees or provide funds for down payments and/or closing costs to assist eligible veterans, service members or Gold Star Families in purchasing a first home.
Veteran Tracy Hayes received $10,000 in HAVEN funds to replace flooring, stairs and install a reinforced railing to help her get up and down the stairs in her Hensley, Arkansas home.
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“It’s brought me so much joy,” she said. “It’s much easier to get up and down the stairs.”
Hayes, 52, served in the National Guard for 27 years. She says being in the military is a family tradition that goes back several generations. She was a logistics specialist and served two tours in Iraq. Today, she and her husband are involved with an outreach ministry that provides food and clothing to those in need.
She heard about the HAVEN program from a contractor and fellow military veteran.
“I’m so grateful that this program exists,” she said. “I would recommend it to any veteran. I know I speak for others when I say I am so appreciative.”
To be eligible for the program, households must have a family income of 165 percent or less of the area median income. In addition,if HAVEN funds are used for down payment assistance or closing costs, the grant recipient must qualify as a first-time homebuyer and complete a homeowner counseling course.
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HAVEN funds are available until the funds are exhausted or until Dec. 31, 2023, whichever occurs first.
See here for more information about HAVEN and click here to see a list of participating members. Contact your financial institution if it is on the list of participating HAVEN members or reach out to another in your area on the participating list to see if you or a family member qualifies for HAVEN.
Reach Julia LeDoux at Julia@connectingvets.com.