By Raychel Stewart
For The Signal
The Santa Clarita Veteran Services Collaborative is accepting applications from local veterans who, if they meet certain criteria, could receive the full title of a family residence in Canyon Country, thanks to a contribution made by an anonymous donor.
The donor contacted the Veterans Services Collaborative in order to award a veteran with a 1,240-square-foot house valued at $500,000 — a three-bedroom, two-bathroom home, free of debt.
In order to qualify, veterans must meet the criteria set by the collaborative’s board of directors. The criteria include: an honorable discharge document; employment or proof of a military-related injury that results in 100% disability; a good credit score; and the veteran must be able to qualify for a $110,000 VA loan, which includes escrow fees, taxes and insurance.
A new roof was recently installed, and the house has passed all inspections done by a “well-known realty company,” according to the donor.
“This is an unbelievable opportunity,” said Jeffery Stabile, director of business development at the collaborative. “A lot of veterans aren’t in the position to be homeowners, and this is a great way for someone to get invested in a house.”
The chosen applicant must reside in the house for five years and may not rent or sell the home during that period of time. The collaborative board of directors can make exceptions if an emergency causes the need to sell the house.
If an emergency calls for the selling of the house, the veteran will receive the vested portion of the interest in the equity “at the rate of 10% of the full property value for each year of residency,” according to officials. To receive 100% vesting, the veteran will have to live in the house for 10 years.
To submit an application, a letter explaining consideration, resume, copy of driver’s license, honorable discharge document, employment or loop disability verification must be mailed to Santa Clarita Veteran Services Collaborative, Attention Selection Committee, 23222 Lyons Ave., Newhall, CA 91321, and must be postmarked by Nov. 15. Applicants will receive an acknowledgment from the collaborative once their application is submitted.
A selection committee from the collaborative will look over each application and the veteran chosen will be contacted.
For more information, contact E. Wolfe at 661-260-1790.