Learn About Financial Assistance for Veterans

If you are a veteran in financial hardship, various programs are designed to provide you with financial assistance.

Veterans with a service-connected disability are eligible to receive funds for adapted housing to install needed modifications.

These include ramps and widened doorways, or the purchase of a specially built adapted home. If you are not disabled, you may be eligible for a VA home loan to purchase a new home or refinance your present home loan. 

These are just a few of the financial assistance benefits extended to U.S. veterans, both active and retired.

Most veterans do not fully take advantage of these benefits offered to them, however.

One of the reasons many of the programs are underutilized is that many veterans simply do not know about them or think they do not qualify for the help.

In actuality, the benefits are so significant that it is worth applying anyway. For example, veterans who experienced certain traumatic conditions while serving receive financial assistance through the Combat Injured Program.

Post-9/11 service members who were injured, ill or wounded receive help from the Military Heroes Fund Emergency Financial Assistance Program. Women veterans also have specialized benefits offered to them.

Taking a few minutes to read about the various programs, and then seeking out a VA representative to assist with your applications can save you thousands of dollars each year, as well as gain you access to services and discounts you did not even know existed.

Learn About VA Home Loans and Other Housing Assistance Programs

Receive financial assistance to obtain a home, refinance your existing home loan or install home improvements to save energy with a VA home loan program.

You have the option of obtaining a Purchase Loan, an Interest Rate Reduction Refinance Loan or a Cash-Out Refinance Loan.

To qualify for a VA-guaranteed home loan, you must have sufficient income and credit. You must have a Certificate of Eligibility to verify to lenders you are eligible for the loan. In addition, you must provide:

  • Certification stating your intention to occupy the property.
  • Form DD-214 or other relevant service documents.
  • Other documents that are typically requited for obtaining a home loan.

Native American veterans wishing to live on Federal Trust land can apply for the specific Native American Direct Loan program.

Like the VA home loan program, this is operated by the U.S. Department of Veterans Affairs.

The Native American Direct Loan program provides direct loans to eligible candidates. The loan is used to buy a home, construct a home or make improvements to an existing home.

To obtain this loan, apply for a Certificate of Eligibility first. Then, contact your state’s VA regional loan center to apply for the Native American Direct Loan program.

Financial assistance for adapted homes is available to veterans with service-related disabilities. Three grants are available.

These are the Special Housing Adaptation grant, the Specially Adapted Housing grant and the Temporary Residence Adaptation grant.

These allow you to build or buy an adapted home or to install modifications. These modifications include handrails, ramps and widened doorways to your existing home, so you live a more independent life.

What is the Combat Injured Program?

Operated by the nonprofit organization USACares, the Combat Injured Program pays basic expenses for wounded veterans suffering from traumatic brain injury, post-traumatic stress disorder or military sexual trauma.

Funds are available while eligible veterans receive treatment for their particular conditions.

When applying, inform USACares as to whether you are a post-9/11 veteran or an active duty service member who has an estimated date of retirement or discharge.

Apply via the USACares website.

Once you have submitted your application, your claim is forwarded to a case team.

During the processing of your application, you are contacted to discuss your exact requirements and the reasons for your present hardship.

Once your application has been processed, it is sent to an impartial committee. The committee then determines whether your application is approved.

If you are approved, you are notified, and your funds are sent to a service provider. If your application is not accepted, USACares helps you find another avenue of financial assistance.

What is the Military Heroes Fund Emergency Financial Assistance Program?

Operated by the PenFed Foundation, this financial assistance program provides funds to post-9/11 veterans who are wounded, injured or ill and are experiencing short-term financial problems.

The financial setback must be unexpected and funds required must only be needed for one or two months. Financial assistance is given to help you pay several types of bills.

The Military Heroes Fund Emergency Financial Assistance Program assists with the payment of bills like:

  • Your rent or mortgage.
  • Your energy bills, such as electric and gas.
  • Your utilities.
  • Your auto insurance and auto loan.

To be eligible for the program, your unpaid bills must be at least 30 days past their due dates.

The bills cannot be more than 90 days past their due dates. In addition, you must prove you served in combat after 9/11, have been honorably discharged and have a VA disability rating of at least 10 percent.

To apply, provide required documentation, such as:

  • Form DD214
  • Proof of your service-related disability or illness
  • Your most recent bills showing the past due dates or a lease agreement for requests of rent

Provide the contact information of a referring agency. If you are not referred to the program by an organization, find a referring agent before applying for assistance.

A referring agent may be your doctor, your social worker or a nonprofit military aid organization.

The grant amount you receive cannot be more than the equivalent of two months’ worth of delinquent payments.

If successful in your application, checks are sent directly to your creditors or your landlord. The checks are sent between seven and 10 business days after your grant has been approved.

Learn About Dixon Center Grants for Female Veterans

If you are a female veteran experiencing financial hardship, you and your family can receive assistance from a Dixon Center grant.

This grant is used to pay for a number of costs related to housing and employment. The first step the Dixon Center takes is connecting you with resources in your local community that provide you with relevant help.

If all those resources are exhausted, you are then considered for a one-off grant for financial assistance.

To qualify, you must either be unemployed and in financial hardship or be at imminent risk of homelessness.

To apply, download an application form on the Dixon Center’s website and provide Form DD214 or Form DD215.

You must provide other documentation, such as copies of the bills you need help paying, bank statements and credit card statements.