Through VHOP, eligible veterans have the opportunity to purchase newly constructed or newly renovated homes made available through the program. Veterans may choose to finance their home through a PHH preferred lending partner or work with their own mortgage lender. To make homeownership more attainable, qualified veterans purchase the home for 65% of its appraised value. The remaining 35% is provided as deferred assistance and is fully forgiven after five years, provided program requirements are met. Designed to remove financial barriers while creating long-term housing stability, VHOP empowers veterans to achieve affordable, sustainable homeownership while building equity in a safe, accessible home.
Instead of needing to finance the full $300,000, the veteran finances only $195,000, significantly reducing:
At the end of the five-year period, the veteran owns a home that may have appreciated in value while the 35% deferred assistance is forgiven, allowing them to build equity and long-term financial stability.
Example Home Appraised Value: $300,000
Home Value Amount
Appraised Value $300,000
Veteran Mortgage (65%) $195,000
PHH Deferred Assistance (35%) $105,000
How it works:
Purple Heart Homes, Inc. does not and shall not discriminate, when making determinations of whether applicants are eligible for services, on the basis of race, color, national origin, religion, sex, age, or disability.
Purple Heart Homes endeavors to provide services to and for disabled and honorably discharged Veterans, and will make applicant eligibility decisions on this basis alone.
501[C]3 Non-Profit
Founded by Veterans for Veterans
EIN 26-3516121
