VA Grant 2101(a) For Disabled Veterans
VA Grant 2101(a) is among the Department of Veterans Affairs programs and policies designed to help qualifying disabled military veterans purchase specially adapted housing or modify an existing structure to include accessibility features. The Department of VA has qualifying criteria related to the nature of a veteran’s disabilities–not all veterans or disabilities may qualify.There are also additional requirements vets must meet in order to qualify for the grant.
The 2101(a), also known as the Specially Adapted Housing Grant, helps qualifying veterans by offering as much as 50 percent of the cost of a specially adapted house (in specific circumstances) or a maximum of approximately $63 thousand (in qualifying circumstances).
VA requirements for this program include rules stating it must be “medically feasible” for the grant recipient to live on the property. The home must be adapted to suit the veteran’s needs for accessibility and the disabled veteran must be able to afford to purchase the home with the help of the grant.
For vets who qualify, there are four types of ways the grant can be utilized. The vet could use a partial or full amount of the grant, for example, to build a home on land they already own or want to buy.
The veteran can also use the grant to modify an existing home to make it more accessible, or in cases where the veteran has already purchased a specially adapted home they can use the grant to pay down the principal on a mortgage loan.
Veterans who qualify for this grant should know that property taxes may be an issue. Buyers need to research tax implications carefully before moving forward with a VA Grant 2101(a).
Some states protect disabled veterans awarded this grant from additional tax liability–contact the VA about the laws in your state to lean what your local tax responsibilities might be. As these VA grants can be awarded in excess of $60 thousand in some cases, tax issues could be a serious concern where applicable.