Government Money is Available to Help Veterans Buy a Home in San Diego
By Derrick Evens AUG. 11, 2014
San Diego County has several little-known financial assistance programs that can help all veterans and active-duty members afford a home. In most cases, their mortgage payment will be less than what they are paying in rent.For example, the San Diego Housing Commission and the County of San Diego both offer housing assistance programs that help low-income veterans and active duty members with their down payment.Unfortunately, most service members don’t even know about these municipal programs, let alone how, or where, to apply.
Many Veterans in San Diego are renting small apartments without knowing they could easily be living in their own home. On top of this, owning a home provides many tax-benefits that could help save these families money.
Despite having the 15th largest military population in the United States—roughly 253 thousand military personnel and dependents—San Diego County is lagging behind other major cities when it comes to the number of veterans and active-duty members taking advantage of VA programs, according to the US Department of Veteran Affairs.The San Diego chapter of the Veterans Association of Real Estate Professionals (VAREP), a non-profit organization that is devoted to helping veterans find housing, believes that VA programs, both municipal and federal, aren’t getting the attention they deserve.And providing even more incentive, San Diego offers higher VA loans amounts, up to $546,250, more than most other counties in the US. Veterans and active duty-members from Camp Pendleton all the way down to Naval Base San Diego are missing out on a massive, and well-earned, opportunity to buy their own home.
The San Diego chapter of VAREP is hosting a summit on Saturday, August 23, that will explain how veterans and active-duty members can qualify for these programs. (http://varep.net/index.php/eventslist/59-varep-san-diego-chapter-veterans-housing-summit/event_details).Veterans and active-duty members will learn on the spot how much money they are qualified to receive. They will also learn about all of the local and federal assistance programs available in San Diego County. Veterans and active-duty members will leave the summit with a VA Certificate of Eligibility, which is required for government assistance. Free financial counseling and lunch are provided. The summit will have experts in veteran affairs and real estate who can provide invaluable insight and guidance. Additionally, several high-profile guest-speakers are scheduled to attend, including the President of the Greater San Diego Association of Realtors, Leslie Kilpatrick, an expert from the Department of Veteran Affairs, Beth Juachon, and an advisor from the Office of the Mayor.