The Department of Veterans Affairs has many programs and benefits for veterans who meet certain eligibility requirements. But what about veterans who don’t know how to use these benefits due to unfortunate life circumstances? Many veterans have a difficult time coping with their lives after military service and unfortunately some end up mentally ill or homeless. The VA has programs specifically to help veterans in need. These programs include aid for homeless veterans to obtain affordable housing and healthcare through the VA.

The Veterans Administration has programs to help homeless veterans regain their independence through education and jobs programs. For homeless veterans the VA also offers permanent housing support so that the veteran will no longer be homeless and have the time to get training and employment in order to be self-sufficient. Not only does the VA offer transitional housing assistance but also extensive psychiatric and rehabilitative services for veterans with substance abuse and metal illness.

One of the ways the VA creates quality housing for homeless veterans is through their loan guarantee for multifamily housing program. This program allows the VA to guarantee loans for real estate investors and community initiatives that are purchasing or building multifamily housing units as long as they agree to rent the units to homeless veterans. Then the VA has programs where the rent due for the veteran is paid by the VA as housing support. So basically this means that you can get a guaranteed loan to purchase, rehabilitate, or build multifamily housing units and then get your rent paid to you directly by the VA for renting to homeless veterans. For veterans this means easy accessibility to housing if you are homeless.

To be eligible to participate as an investor in the Loan Guarantee For Multifamily Housing Program there are certain requirements:

• You must be able to get a loan through a VA approved lender. The VA makes it easier to get the loan by guaranteeing a portion of the funds borrowed, but you still have to have the creditworthiness to get the loan in the first place.
• You must follow all state, local, and federal laws for codes regarding multifamily housing units in your area.
• You must not only provide housing but also supportive services for veterans. This means the veterans must have full access to job training services, counseling, and the veterans must look for employment. You may provide these services through other community agencies but they must be available to the veterans.
• You must have the funds available through a loan or other means to complete the project. This means that the VA will not guarantee a loan if there is not enough money to complete the project. This includes money for purchasing, rehabilitating, and or building the multifamily housing unit, as well as the acquisition of furniture for every unit.
• You can borrow up to 90% of the total cost of the project.
• You must submit to independent audits from the VA. This is to make sure that you are complying with all of the VA requirements for this program.

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For veterans who wish to use the transitional housing assistance offered by the VA there are also certain requirements:

• The veteran must actively look for employment.
• The veteran must remain sober at all times.
• The veteran does not have to be homeless to take advantage of this housing.
• You do not have to be a veteran to take advantage of this housing.
• You must agree to pay a sliding scale rent for this housing once you have obtained a job. The VA will charge some amount of rent once you have found employment, but they keep in mind that you need to save money in order to obtain permanent residence for you and your family in the future.

The VA offers this transitional housing assistance in order to help homeless veterans and their families get back on track in their lives when unforeseen events have left them in need.