In previous postings, Home HQ has spotlighted the home-loan programs offered to current and former service members by a number of states. The last installment is below, but before that, some links to the rest of the country.<\/p>\n\n\n\n
Some caveats for all of the entries: Eligibility rules differ by state and from VA programs, and most state-run efforts include income and property-price limits, as well as other requirements that don\u2019t have to do with military service.<\/p>\n\n\n\n
State-based veteran housing benefits in:<\/p>\n\n\n\n
Colorado: <\/b>Qualified veterans can participate in the Colorado Housing and Finance Authority\u2019s FirstStep and FirstStep Plus products regardless of whether they are buying their first home. The program requires participants to have a credit score of at least 620, but those without a measured credit score can participate. Second mortgages offered via the program can be used to assist with closing costs, down payments and other expenses; visit the CHFA online<\/a> for details.<\/p>\n\n\n\n Connecticut: <\/b>The Military Mortgage Option<\/a> offered by the state\u2019s housing finance authority reduces the program\u2019s interest rate by 0.125 percent for qualified participants seeking to buy their first home (or their first in at least three years). It\u2019s open to current and former service members, as well as to surviving spouses and civil partners of troops who died in the line of duty or from a service-connected disability. Other rules apply, including income and property-price caps. The new home must be the owner\u2019s primary residence.<\/p>\n\n\n\n Delaware:<\/b> Qualified veterans can use the Delaware First-Time Homebuyer Tax Credit<\/a> even if they\u2019re not buying their first home. Beneficiaries receive either 35 percent of their taxable interest as a tax credit or a $2,000 credit, whichever is lowest. Visit the above link for other restrictions and property-price limits, and head here<\/a> for a list of approved lenders.<\/p>\n\n\n\t