ACT-VET Eligibility Requirements
Veterans or first responders who meet the following requirements may be eligible to purchase a fully renovated home for 75% of the listing price:
- Household must include a U.S. military veteran whose discharge was other than dishonorable or a first responder.
- The household’s income must be no more than 120% of the area median family income (AMFI).*
- The household must have sufficient income to afford the long-term costs of homeownership, such as mortgage payments, property taxes, and insurance.
- The household must complete an approved homebuyer education course.
- The household must have received a pre-qualification letter from a lender for permanent financing in an amount not less than 75% of the listing price of the home.
*During the first 30 days after an ACT-VET property is made available for sale, it may be sold only to a qualified veteran or first responder whose household income is at or below 80% AMFI or to a qualified veteran or first responder with a disability whose household income is at or below 120% AMFI. After the initial 30-day marketing period, the home may be sold to a qualified non-disabled veteran or first responder with a household income at or below 120% AMFI.