Home Buying Advice For Veterans
Our nation’s veterans receive some specific financial benefits upon their discharge from the military. It's crucial they recognize and receive the advice needed to take full advantage of these offers. Veterans can receive benefits ranging from social security to home buying perks. Below are a few important tools and strategies veteran homebuyers can familiarize themselves with to make homeownership easier.
Utilize a VA Loan
When looking to purchase a home as a veteran, accessing Veteran Affairs (VA) loan is a great place to start the process. VA loans are filled with wonderful benefits that you can take advantage of. Purchasing a home with no down payment, lower credit score requirements to be eligible for a loan, and the access to lifetime benefits are just a few of the multiple great benefits you can receive from a VA Loan.
To qualify for a VA loan from a mortgage lender, you must be a veteran, an active duty service member, or a military spouse. But those are not the only eligibility requirements to determine if you will receive a VA loan or not.
If you’re hoping to acquire a loan, some other requirements include serving 90 consecutive days during wartime or 181 days during peacetime as an active duty service member, you have served in the National Guard or Reserves for six years, or you’re the spouse of a service member who suffered a service-related disability or has died in the line of duty.
There is more than one type of VA loan that you can choose from if you meet the eligibility requirements to qualify for one. Each different type of loan depends on certain criteria including credit score, income, and other factors. Bringing in a VA loan savvy real estate agent and completing a Certificate of Eligibility (COE) online are great ways to help you determine what loan type you should go for.
Get the Proper Paperwork in Order
There is plenty of information needed to get your VA loan process underway. The previously mentioned COE, form DD-214, and other general information will be needed during the loan acquisition process.
The COE is a document created by veteran affairs that provides information that proves that you are eligible for a VA loan. It is important to complete this certificate early on in your process as it will help move everything as long as smoothly as possible. A COE can be obtained through eBenefits online.
Form DD-214 is another required document you will need to obtain in the process of acquiring a VA loan if you are currently a military veteran. It shows proof of your discharge from the military. Acquiring your DD-214 form is a straightforward process that you can do yourself or have someone else do for you.
Other common documents needed during the process include a government-issued ID, your W-2 and tax returns from the previous two years, and most recent bank statements and pay stubs. Getting all of these documents together ahead of time will help reduce the stress of the process. To further reduce any financial anxieties and streamline your search, we suggest getting pre-approval on your mortgage. The sooner the paperwork and logistics are taken care of, the sooner you can begin your search for the perfect home.
Searching for Your Home
Once you create your budget, get your loan and mortgage approved, and have all your paperwork in order, you can finally begin the house-hunting process. It’s important to take care of all of the logistical aspects of the process before beginning to look at homes to ensure that you do not fall in love with any homes that you may prove to not be a realistic purchase for you later in the process.
You must consider things such as the school district if you have kids and any taxes that come along with the school district you are located in. Depending on what state you’re looking to live in, there are some different veteran housing benefits in each state. So make sure you familiarize yourself with any potential benefits the state you are looking to live in may offer to you.
Homebuying is a very exciting process, but could also be stressful. It’s important for veterans, active military members, and their families to be informed of the benefits they may be eligible for so they can utilize them to the fullest. Purchasing a home is a huge undertaking and accomplishment, and should be treated as such.
Can We Talk About How Veteran Service Dogs Work Hard To Be More Than Just Man’s Best Friend?
Ever notice when you’re out at the gym, or the grocery store, or the train station,places you least expect to see an animal, you see a person walking with a dog? Well, your eyes aren’t deceiving you and these are not just any ordinary canines, they are actually incredibly trained service dogs. You likely won’t see the effects of what they do or how they help out their owner, but there is more to them than meets the eye. Service dogs assist veterans with different needs in a variety of ways and it is something that, as a veteran supporting community, we should talk about. They aren’t just there to keep company, but to help handlers with disabilities so that they can lead more independent lives.
The Best of the Best
Service dogs can help in the range of physical, sensory, psychiatric, intellectual, or even mental disabilities that a veteran can have. About 50% – 70% of dogs picked fail through service training. Dogs must be above average when it comes to their abilities, and this is only the very beginning of determining a worthy service dog. Service dogs in training must be able to exhibit a desire to work, a calm demeanor, high intelligence, and have a friendly and loving disposition. So, it takes more than a good nose to be a service dog.
Testimony
Veteran Toye Hickman is a service dog owner who shared her testimony about how her life has changed since she first got her service dog, as she deals with post-traumatic stress disorder, depression and anxiety. “He understands when my anxiety is going up. He’ll follow me around, he’ll pester me to get up and do something,” Hickman said. “If I’m having a down day, even though he’s a very active dog, he’ll lay right beside me and won’t leave my side.” Toye says her life changed when her service dog Bake entered it just two years ago.
Purple Heart Testimony / Clay the Service Dog
The Purple Heart Foundation believes that service dogs can truly help veterans, and that is why we offer this program to veterans. Watch retired veteran Jim Mirick, in his own words, detailing how much his service dog has helped him. He states, “He and I have such a bond together, he’s very tight with me, he’s irreplaceable to me.” Speaking of service dogs, our newest member to the Purple Heart Foundation family is Clay the service puppy, named after Purple Heart Recipient and former Purple Heart Foundation board member, Clayton Jones who passed in 2021. Clay is in the early stages of his nearly twenty four month training program, and from what we can tell he is determined and working hard through the process as a young student.
Conclusion
When the time comes, Clay will be matched with an honorably discharged veteran and their family, hopefully providing invaluable support while making a significant difference in a veterans’ life. Giving new meaning to the phrase Man’s best friend, our returning heroes, with their new companions, will be able to return towards the path of independence. Click here to learn more about our service dog program.
4 Ways Veterans Can Take Control Of Their Finances
Taking control of your finances can be trying for anyone, but for struggling veterans, this issue may feel impossible to tackle. Luckily, there are lots of resources available, and the Purple Heart Foundation prides itself on helping military veterans and recognizing the sacrifices they’ve made. We would like to extend some information on how veterans can take control of their own finances on an individual basis.
1. Check Your Credit Score
Credit scores may not be the first thing on your mind when checking your bank accounts, but they are an extremely important tool that is needed when making big-ticket purchases. For example, buying a home will require a credit score check before you are able to take out a loan. Although VA loans offer flexibility to veterans, it’s still a great idea to first understand what credit score is needed to buy a home. Checking your credit score is free and won’t impact your credit. Plus, just this small step will allow you to gain a clearer picture of your financial situation.
2. Have a Plan to Pay Off Your Debts
Anyone struggling with debt understands the burden it can have. However, it’s crucial that big and small debts alike come with a plan for paying them off. Some of the more important factors to consider when creating a debt payoff plan that financial experts recommend is to include what your baseline budget will be and how much you’re going to allocate each month toward your debt payoff. Having an idea of how you’re going to pay your debts on time and eventually living debt free will be a huge weight off your shoulders and allow you more flexibility in your finances.
3. Cancel Unnecessary Subscriptions and Limit Overspending
Overspending is a common problem for many. There’s a reason such a thing as “retail therapy” exists! But that joy from buying a fancy back scratcher will quickly fade once you do the math on how much these unnecessary wants are costing you. Ways to combat emotional spending may include window shopping instead of buying so you can learn to understand what triggers your desire to overspend. Even taking a look at your monthly subscriptions, such as streaming services, and cutting back on those can help you increase your budget and improve your ability to meet long-term financial goals.
4. Save Up Toward Retirement
Lastly, retirement should be a huge consideration and part of your overall financial plan. Whether it’s through a 401(k) plan or savings account, having money set aside specifically for your retirement is a great way to start. Consider also speaking with a financial advisor to see exactly how much you and your family should save up to retire, and what your individual options are.
Taking control of your finances is no small task, and with the COVID-19 pandemic, this task may become that much more difficult. The Purple Heart Foundation is committed to helping veterans in whatever way possible, so we hope these steps will help you take control of your finances. If you would like to help veterans who are struggling financially, please be sure to check out our Veterans Critical Assistance Grant and make a donation today. Together, we can make a difference in the lives of our nation’s veterans.
Traumatic Brain Injury and the Importance of Connection
Often referred to as the signature injury of the Iraq and Afghanistan wars, the prevalence of traumatic brain injury (TBI) among veterans is higher than it’s ever been. The most common cause of TBI among Operation Enduring Freedom and Operation Iraqi Freedom service members is injuries suffered from Improvised Explosive Devices, or IEDs, used extensively against Coalition Forces.
Many people who sustain a Traumatic Brain Injury recover completely. However, in severe cases, a traumatic brain injury can cause emotional and behavioral changes that can be difficult to understand and accept.
A traumatic brain injury affects the entire family and often results in financial challenges, job loss and isolation. In the United States, 1.7 million people sustain a TBI each year. Whether you have suffered a TBI or are caring for someone who did, understanding you’re not alone is critical, the best thing you can do is reach out.
Join a group
Meeting in person with other people with similar experiences can be cathartic. There are several places to find groups in your area.
Meetup.com has many brain injury and veteran meet ups across the country.
The Brain Injury Association of America has local chapters and various support groups throughout the U.S.
Share your story
When you can share your story and hear the stories of others, you realize there are people out there who understand what you’re going through, who can commiserate, or help put things in perspective. Luckily, the internet makes sharing easier than ever.
Brainline Military is an organization that serves the military community providing information, resources, and support for current and former service members and their families living with traumatic brain injury. Read the personal stories of military members living with TBI, and share your own.
A quick search for “Facebook TBI support group” turns up a handful of pages where you can connect on Facebook and be part of the conversation.
Get Informed
Knowing about traumatic brain injury—the symptoms, treatment options, and benefits you’re eligible for as a veteran or active duty military—will allow you to thrive, not just survive with this condition.
Take a look at our list of TBI resources.
From Deployment to Employment: How to Adjust to a Civilian Work Environment
Transitioning from military service to a rewarding career can feel like a daunting undertaking. The work environment and requirements are usually pretty different. What made you successful in the military may not work as well or could even be counterproductive in civilian life.
Many veterans have trouble coping with this adjustment for several reasons:
- The lower stakes lead to boredom.
- The lack of straightforward rules and missions can cause confusion and anxiety.
- Survival behaviors learned during combat, like a flight or fight response, are counter-productive in a work environment.
- Stress and painful memories from deployment can make it difficult to concentrate and remember important information.
- Military skills don’t always translate to a new work environment.
But the structure and discipline you mastered during your military service can also help you succeed in a civilian work environment. Here are a few things to remember:
Focus on your health.
- See a doctor when necessary and only take medications as prescribed.
- Stay away from unhealthy foods (high fat, high sugar).
- Don’t use non-prescribed drugs or drink alcohol excessively.
- Keep a routine—get enough sleep, exercise regularly, eat at the same time each day.
Learn and practice communication skills.
- Maintain polite and friendly communication with co-workers
- Ask for help about talking about deployment with colleagues
- Learn the appropriate ways to handle conflict and criticism, taking into account the culture of your workplace.
Practice organization
- Keep you workspace neat
- Make task lists
- If you have trouble staying focused, write your thoughts in a journal or notebook.
Create your own structure
- Assess your values and make a list.
- Determine the ways your job fits with your values.
- To identify your values, ask yourself questions like:
- What kind of an employee do I want to be? Hard-working? Dependable? A trustworthy officer?
- What parts of work are important to me? Using and building my skills? Fixing problems? Leading a team of people?
- What do I like about my current job? The way people treat each other? The feeling of accomplishment? Good benefits?
- How does this job fit with serving my country?
- Set long-term goals, like an ideal future position or promotion, and then set short-term goals that will help you achieve them.
- Stay current on training and the technology used in your field.
If you are looking for some training, check out Purple Heart’s Veterans Vocational Technical Institute.
If you want to go back to school and complete an undergraduate degree, learn about Purple Heart scholarships.
For career counseling or other services, find a National Service Officer near you.
Resources:
TurboTAP (Transition Assistance Program)
Veterans’ Employment and Training Services
Military.com Veteran Employment Center