Posted on Aug 2, 2017
Why can't Vets use the VA Home Loan to create a Veteran Community Support Sanctuary Farm?
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Why can't Service-Connected Vets partner, who can't purchase indivudually in the area, who can't move due medical issues, other wised housed in VA supportive housing, dream to use their VA Homeloan Benefit combined, start a Veteran Supporting Transistion Sanctuary Farm. It would be the best of all worlds injured vets helping out other vets.
Veterans United Home Loans
Support
Transition
Therapy
Posted >1 y ago
Responses: 4
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Because the Statute doesn't say you can, hence the answer is "No". That said, the VA doesn't issue loans. They merely guarantee the delta between 80-100% purchase price repayment. That's so the lenders would be willing to fork over a loan at a somewhat decent interest rate. Also, the usage wouldn't be single family dwelling for the loan holder, hence it's a commercial property, hence the interest rate is higher. There are so many aspects the current VA guidance and process doesn't cover, it's no wonder why this is a nonstarter in the current benefit configuration. BTW the concept means the property is being used as a Not For Profit which is another reason the lender would be unwilling as there isn't a demonstrated income stream. So many aspects where the lenders won't want to bite.
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SGT Dave Tracy
Agreed. Not that I'm jumping on the one who asked the question, his question is fair, but I think many people do not understand what the program is; basically--as you noted--it is not a loan made by the VA at all, one can think of it as the VA (in essence) acts at an insurance policy to the lenders in the market place who would make such a loan to qualified individuals and share the lending risk with Uncle Sam.
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PO3 Aaron Hassay
SGT Dave Tracy - Even with that said, the goal of even the lenders, is to help support Service Members and Veterans. With that said, any interpretation of any instruction, that does not allow a Injured Veteran, to team up with other Injured Veterans
combine benefits of housing
help other Injured Vets in any way humanly possible
bypass bureaucracy
benefiting day to day life in real time
stop psychologically hurting confused good heart Veterans in the VA Hold Wait Patter of possibly years, for life saving Disability Compensation Support, some with anxiety so bad from becoming statistics, we want to decrease
We are not "Normal" in the Sense our Benefits for housing be clumped up, in understanding, or a "Normal" Well adjusted Homeowner, seeking their firts house, with a good job in the United States.
We are "Normal" in the we want to help with out road blocks.
combine benefits of housing
help other Injured Vets in any way humanly possible
bypass bureaucracy
benefiting day to day life in real time
stop psychologically hurting confused good heart Veterans in the VA Hold Wait Patter of possibly years, for life saving Disability Compensation Support, some with anxiety so bad from becoming statistics, we want to decrease
We are not "Normal" in the Sense our Benefits for housing be clumped up, in understanding, or a "Normal" Well adjusted Homeowner, seeking their firts house, with a good job in the United States.
We are "Normal" in the we want to help with out road blocks.
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CAPT Kevin B.
The notion of lenders supporting Vets is erroneous and wishful. If they did, they'd do 100% on their own without VA leaning in. Lenders are one thing only; out to make money. If by doing a fancy PR thing for Vets improves the bottom line, they'd do it. Otherwise not. We tend to ascribe moral aspects to entities which have no interest, unless it makes more money. Remember shareholders don't care if the company is Vet friendly so long as it doesn't cut into their bottom line.
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You need to contact the SBA.
Small Business Administration and tell THEM your a Vet that Want's to Start a Business.
Small Business Administration and tell THEM your a Vet that Want's to Start a Business.
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The law is pretty clear on what a VA loan can be used for. It must be a homestead.
Having said that, if you could live there, it seems to me that this is something you might be able to pull off with the right business model.
In my opinion, one of the hardest things a veteran faces when they are having physical or mental health issues is not having a sense of purpose. Conceptually, I think I see where you are going with this.
So I say why not go for it? If you pitch this idea in the right circles, I'll bet you can get some support and assistance with bringing this to fruition.
Having said that, if you could live there, it seems to me that this is something you might be able to pull off with the right business model.
In my opinion, one of the hardest things a veteran faces when they are having physical or mental health issues is not having a sense of purpose. Conceptually, I think I see where you are going with this.
So I say why not go for it? If you pitch this idea in the right circles, I'll bet you can get some support and assistance with bringing this to fruition.
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PO3 Aaron Hassay
I have already met 3 local Vets, 2 Marine's 1 Army, all Service Connected Housed renting single no family, "looking for purpose" with VA Homeloan, can not move to knew location for many reasons, can not purchase in Bay Area individually, agreed to team up with me on this.
I looked at ranch style home next sacramento recently 5 bedroom 4 bath 3 acres 750K of which we could team up purchase, work with local VSO who have a list of Vets in painful wait for their own VA benefits, who would live in this house, and support each other through the process.
I looked at ranch style home next sacramento recently 5 bedroom 4 bath 3 acres 750K of which we could team up purchase, work with local VSO who have a list of Vets in painful wait for their own VA benefits, who would live in this house, and support each other through the process.
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