Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
682,150-7865
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.88%0.00
MortgageReverse

HUD to offer $5 million in grants for low-income veterans to repair their homes

The announcement comes on the heels of another recent expansion for funding home modifications for older Americans

The U.S. Department of Housing and Urban Development (HUD) on Tuesday announced that it would be engaging in a partnership with the U.S. Department of Veterans Affairs (VA) to award $5 million in $1 million allotments to five non-profit organizations in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP).

The grants will go to help repair and maintain the homes of low-income veterans, with awardees having been selected by HUD’s Office of Rural Housing and Economic Development (ORHED). The move will enable more veterans to remain in their own homes for longer periods of time, according to a statement from HUD Secretary Marcia Fudge.

HUD Secretary Marcia Fudge, who oversees the department that administrates the reverse mortgage program for the Biden administration.
Marcia Fudge

“There is no one more deserving of safe, accommodating housing than those who have served and defended this country,” said Secretary Fudge. “These funds will help our low-income, disabled veterans achieve a dignified quality of life that allows them to live independently and comfortably.”

 The need for veterans to have access to resources that can allow for more independent living will go toward hundreds of veterans who require assistance to keep their homes in good repair to allow for aging in place, according to Secretary of Veterans Affairs Denis McDonough

“All of our nation’s Veterans deserve homes that help them live independent, comfortable, and fulfilling lives—especially those who live with low income or disabilities,” said McDonough. “This funding will help make that goal a reality for more than 300 Veterans by covering costs for much-needed home repairs, adaptive housing, and utilities. We are proud to partner with HUD and several non-profits in this important effort.”

The news of this new award comes on the heels of a similar announcement made by HUD late last month, where Secretary Fudge said that HUD will add new funding to programs designed to facilitate aging-in-place goals specifically for American seniors in order to address ongoing senior livability issues and to allow more seniors to remain where they are.

This presents an alternative to moving into an assisted living or nursing facility in later life, Secretary Fudge explained, during an event in Minneapolis on August 29.

“By 2040, it is estimated that 20 percent of the population will be over 65 years old,” said Secretary Fudge during the August event. “We must allow our nation’s seniors to age in place with dignity. This funding will give seniors the flexibility to make changes to their existing homes -changes that will keep them safe and allow them to gracefully adjust to their changing lifestyles. This program is crucial to our work to increase and maintain our nation’s housing supply, and it aligns with the Biden-Harris Administration’s efforts to treat every person in this country with dignity and respect.”

Details of the individual awardees of the HUD/VA money can be found on HUD’s website.

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please