VA Loan Grants and Waivers for Disabled Veterans

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The federally-backed VA loan benefit helps millions of eligible military members and select government employees finance their homes.
The federally-backed VA loan benefit helps millions of eligible military members and select government employees finance their homes.

Zero-down-payment mortgages are a great option, but eligible borrowers can expect access to additional benefits if they are qualified, disabled veterans. And, they may qualify for fee waivers and valuable grants too.

VA Home Loan Basics

The federally backed VA loan benefit helps millions of eligible military members and select government employees finance their homes. Some of the highlights of the program include:

  • No down payment on purchases up to $424,100 (and higher in certain counties)
  • No private mortgage insurance
  • Competitive interest rates
  • No pre-payment penalties
  • Up to all closing costs and up to 4% concessions may be paid by seller

Disabled veterans may receive even more VA benefits. Vets discharged due to a service-connected disability will likely meet service-length requirements for a VA loan, even if they do not meet the minimum required service days for war or peacetime on active duty. In addition, they may qualify for cost-saving waivers or grants to modify their homes to specific needs.

Disability Compensation = VA Funding Fee Waiver

Vets who receive VA compensation for a service-connected disability, or are entitled to it but are getting retirement or active duty pay instead, are exempt from the VA funding fee. The fee can run from 0.5 to 3.3 percent. If you’re receiving disability compensation each month, then let your loan officer know so you can get the appropriate exemption.

Specially Adapted Housing Grants Available to Modify/Build Homes

The VA Loan Guaranty Division does more than back home loans made by lenders. It also administers Specially Adapted Housing grants. The money can help certain disabled veterans modify or build homes to best fit their needs. Up to $81,080 can be awarded to a qualifying veteran. Check out our Specially Adapted Housing Grant FAQ.

Take the Next Step

To learn more about VA home loan benefits for disabled veterans, click here to connect with an experienced VA mortgage specialist.

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