Michael Rothstein, GRI , Hammond Residential Real EstatePhone: (617) 470-3165
Email: [email protected]
Email: [email protected]
The U.S. Department of Veterans Affairs offers many financial benefits for veterans wanting to purchase a home. There are even more specific benefits for veterans with qualifying disabilities. These options are important to know if you are interested in financing help to buy your dream home. Here is the most important information to know:
A major benefit of seeking financing through the VA are the special housing grants available to veterans with disabilities. These grants are for either purchasing or making major changes to your primary residence to accommodate a disability.
The two main types of VA housing grants are the VA Special Housing Adaptation (SHA) Grant and the VA Temporary Residence Adaptation (TRA) Grants. The SHA grant will provide financing for either purchase or major remodeling to further accommodate disability. TRA grants are specifically for funding temporary adjustments to a relative's home or other short-term residence.
Another important grant to know about is the Specially Adapted Housing (SAH) Grant, which offers assistance for building a brand new home. If you're planning on building your dream home from the ground up, this is the grant for you.
A key benefit of VA loans is the lack of down payment. However, VA loans do come with their own unique funding fee, which is usually mandatory. As a veteran with qualified disabilities, you can avoid paying the funding fee entirely. A funding fee exemption could save tens of thousands of dollars depending on the total amount of the loan.
Many states have special tax exemptions for veterans with disabilities. The requirements and actual amounts vary from one state to the next, but all can equal a sizable break on property taxes. To find out if your state offers this benefit, reach out to your local VA representative or visit their online resources. While not all states offer this type of benefit, the list of participating states is substantial.
Active in residential brokerage since 1985, Michael enjoys a loyal following of past buyers and sellers. Prior to entering brokerage, he studied culinary arts and managed restaurants in the Boston area. Born and raised in Newton, Michael is very familiar with the Greater Boston area. His seven-day-a-week commitment to his profession serves his clients and customers well. His educational background includes The Johnson & Wales Culinary Institute, The Lee Institute for Real Estate, and The Tom Hopkins and Floyd Wickman Sales Training courses.
In recognition of his completion of the prescribed courses in real estate practice and ethics, Michael has earned the distinguished GRI (Graduate, Realtor Institute) designation. He continues his long-standing membership in the National Association of Realtors and is an avid fly fisherman, musician, and outdoor enthusiast.
Michael was awarded the International President's Circle Award for sales expertise, market knowledge, and dedication to clients for 2020 and 2021. In 2022 and 2023 he was awarded the International Presidents Elite Award, representing the Top 2% of Coldwell Banker Agents Worldwide, for demonstrating exceptional sales production, ambition and his commitment to the Real Estate Industry.
