Chicago, IL (PRWEB) October 18, 2013
The Federal Savings Bank has been telling the story, a new housing initiative in the city of Poughkeepsie, NY which has provided veterans and senior citizens a place to call home. When veterans return home, they often face a range of challenges that can affect their ability to own and maintain a house, and unfortunately a number end up without a home at all.
A new housing building named the Poughkeepsie Commons has 24 available apartments for veterans at discounted rents under $500 per month, according to the Poughkeepsie Journal. With an almost constant demand for veteran housing, the Dutchess County of Veteran Services was able to help 73 veterans and their families who were either homeless or at risk of losing their home last year, reported the Journal. The number of veterans who have applied for a VA home loan has tripled since 2007 in response to the need for affordable housing and the options available for a low rate mortgage.
"Poughkeepsie Commons helps answer a profound need for veterans housing in our region," Sean Kearney, the project developer, told the Poughkeepsie Journal. "In addition to providing much-needed affordable housing for the most vulnerable veterans, Poughkeepsie Commons will provide access to counseling, transportation and other supportive services."
In order to be eligible for the Poughkeepsie Commons housing initiative, veterans must not have left the army with dishonorable discharge and must make less than 50 percent of the median income in the county. The Poughkeepsie Journal reported that all veterans who were eligible for the program were housed last year.
"As our veterans return to our community from their service and our senior population grows and ages, it is vital that we provide affordable housing which meets their unique needs," Dutchess County Executive Marc Molinaro told the Poughkeepsie Journal at the grand opening of the new commons.
Contact the Federal Savings Bank, a veteran owned bank, to discuss affordable mortgage options for veterans.