Benefits help veterans buy homes, but only if they know about them

Housing Summit set for Saturday

SAN ANTONIO – Grandparents Jerry and Debbie Troy have  lived in a two-story house on the far north side for nine years.  They are about to call it home.

"The landlord said they were looking to sell," Jerry Troy said.

The Troys were renting and not really looking to buy because cancer battles for both of them had taken a toll on their finances.

"We didn't have a lot of credit," Troy said.

But his service in the Air Force opened the door. At 70 years old, Troy is able to buy the house with the help of a VA home loan. It's a valuable benefit because it's not as restrictive as other types of loans. But, studies show millions of veterans do not take advantage of the programs, largely because they do not know enough about them. 

"There is a lot of veterans out there, active duty, retired military and surviving spouses that don't know they are eligible for the VA home loan, or they don't know they can use it again," said Art Ramirez with VA REP, Veterans Association of Real Estate Professionals.

VA REP is a nonprofit focused on educating those who served their country about credit, finances, home-buying and the various benefits they are entitled to.

The group is hosting a Housing Summit 7:30 a.m. to 3 p.m. Saturday at the San Antonio Shrine Auditorium, 901 North Loop 1604 West. The event is is free.

"There's even a grant for up to $25,000 for down payment assistance for  Purple Heart recipients," Ramirez said.

The Troys look forward to being home owners, paying a mortgage less than the rent they paid for years.


About the Author:

Marilyn Moritz is an award-winning journalist dedicated to digging up information that can make people’s lives a little bit better. As KSAT’S 12 On Your Side Consumer reporter, she focuses on exposing scams and dangerous products and helping people save money.