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Paths to Homeownership for Veterans and Active Military

Affordable homeownership programs are on the rise, and many options specifically benefit active and veteran military members and their families. Notably, out of the more than 2,000 homebuyer and down payment assistance (DPA) programs available across the U.S., 60 feature incentives for military homebuyers, and 189 waive first-time homebuyer requirements for veterans and military personnel.

In honor of the sacrifices made by the courageous members of the U.S. armed forces, this Independence Day we’ve compiled six affordable homeownership programs that have incentives for active military members and veterans:

Ohio Housing Finance Agency (OHFA) Ohio Heroes

The Ohio Housing Finance Agency’s (OHFA) Ohio Heroes is a first mortgage program that rewards Ohio public servants — including veterans, active-duty military members, members of reserve components and surviving spouses — with a mortgage interest rate discounted by 0.25%.

Ohio Heroes can be applied to conventional mortgages as well as loans backed by the U.S. Department of Veterans Affairs (VA), Department of Agriculture (USDA) and Federal Housing Administration (FHA). Ohio Heroes loans can also be combined with OHFA’s DPA and Mortgage Tax Credit (MTC).

For more program details and eligibility requirements, visit

Florida Hometown Heroes

The Florida Hometown Heroes housing program makes homeownership more affordable for active military and veterans in addition to other frontline community workers. Qualified homebuyers receive down payment and closing cost assistance totaling 5% of the total loan amount (up to $25,000) in the form of a non-amortizing, 30-year deferred second mortgage.

Participants also receive reduced upfront fees, freedom from origination points and discount points and lower-than-market rates on FHA, VA, Rural Development (RD), Fannie Mae and Freddie Mac first mortgages. Program income limits are based on county and range from $118,950 to $153,750. Loan limits are based on county and loan program and range from $420,680 to $710,700.

For more program details and eligibility requirements, visit

Iowa Finance Authority (IFA) Military Homeownership Assistance Program

The Iowa Finance Authority’s Military Homeownership Assistance Program empowers active service members, veterans, and surviving spouses of eligible service persons with a $5,000 grant to cover down payment and closing costs. The DPA grant never has to be repaid, and participants do not have to be first-time homebuyers to qualify.

The Military Homeownership Assistance Program may be used in conjunction with IFA’s FirstHome and Homes for Iowans affordable mortgage programs. However, because DPA funding is limited based on availability, the grant is awarded on a first come, first served basis.

MassHousing Closing Cost Credit for Veterans and Service Members

MassHousing’s Closing Cost Credit for Veterans and Service Members is a $2,500 grant exclusively for National Guard, reserves, active-duty military, veteran, and Gold Star families. The funds are applied toward closing costs and never have to be repaid.

Because there is no first-time homebuyer requirement associated with this program, it is well-suited for military members in Massachusetts who are purchasing their first home or looking to upsize or downsize from their current home.

For more program details and eligibility requirements, visit

Utah Veteran First-Time Homebuyer Grant

The Utah Veteran First-Time Homebuyer Grant supports active military or veterans who retired in the last 5 years with a $2,500 grant toward down payment, closing costs or other mortgage expenses. Applicants must be purchasing their first home in Utah but may still be eligible if they previously owned property in another state.

Grant recipients are permitted to work with any lender authorized to originate mortgages in the state of Utah and may choose any conforming loan program, including VA, FHA, Fannie Mae or Freddie Mac loans.

For more program details and eligibility requirements, visit

Washington State Housing Finance Commission (WSHFC) Veterans Down Payment Assistance Loan Program

The WSHFC Veterans Down Payment Assistance Loan Program provides financial support for honorably discharged veterans, military spouses who never remarried and dependent children of deceased veterans. Program participants can receive up to $10,000 and a 3% mortgage rate, and even though DPA must be repaid to the commission, payments can be deferred for the lifetime of a loan (up to 30 years).

Borrowers must be first-time homebuyers or buying in a targeted area. The Veterans Down Payment Assistance Loan Program can also be combined with WSHFC’s Home Advantage or House Key first mortgage loan program.

For more program details and eligibility requirements, visit

With military-focused homebuyer programs active across the country, our servicemen and servicewomen have many opportunities to achieve affordable, sustainable homeownership on the Homefront.

Search for programs in your area and get connected with a mortgage lender today to see if you’re eligible.


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