Is there financial help available for a retired veteran and spouse for elder housing or a retirement community in MA?

2 answers | Last updated: Jul 30, 2015
Barbarahartigan asked...

Is there financial help available for a retired veteran and spouse for elder housing or a retirement community in MA?

Expert Answers

There is a home loan program through the Department of Veterans Affairs (VA) that might be able to provide you with a loan guaranty for the purchase of a residence. The VA loan guaranty program includes condominiums and residential coops, so it should also apply to purchase of a residence in an elder housing or retirement community. The guarantees often make it possible to purchase a home with little or no down payment.


There are a number of eligibility requirements that have to be met in order to qualify for such a loan guaranty. First, the veteran must have served for a specific period of active duty, the length of that period depending on when that active duty occurred. The veteran must also have a good credit rating and sufficient income. To find out more about the program and its eligibility requirements, you can look online at Chapter 5 of the VA's book  Federal Benefits for Veterans and Dependents. You can find additional information on the program on the  Home Loan Guaranty Services pages of the VA web site.

Community Answers

A fellow caregiver answered...

You might look into the Veterans Aid & Assistance program. Its for those vets that served during a war and its not an easy thing to apply for, but its very helpful. You could rec'v 2000.00 a month (max.) towards care.