Purchasing a home with a VA loan in Maine

One of the first steps to taking advantage of veteran benefits is for a veteran to figure out which ones he or she qualifies for. Typically, a veteran qualifies for benefits depending upon their discharge status and any disabilities they might have.

It has been reported that many veterans never take advantage of their benefits. Once a veteran has established his or her eligibility for veteran benefits, it’s important to learn about all the different benefits that are available for veterans and to understand all the paperwork that is required to receive each benefit.


Financial Benefits

Veteran Tax Exemption

Maine veterans may qualify for property tax exemption if they served during a war period, if they are a recipient of a military medal, if they served during World War II, or if they sustained a disability during their armed forces service. In addition to falling into one of those categories, the veteran must live in Maine and claim the tax exemption with the municipality assessor.

Veteran Business Insurance

The Finance Authority of Maine has created a program called the Veterans Small Business Loan Program. The program allows veterans in Maine who own a small business to apply for a special business loan insurance. The Finance Authority of Maine does not specifically fund the loan, just offer insurance for it.

Housing Benefits

Veteran Homes

There are six veterans homes located in Maine. They can be found in South Paris, Caribou, Scarborough, Bangor, Augusta, and Machias. Veterans are eligible for admission to any of the homes if they have been honorably discharged and served as least one day in active duty besides their basic training. In addition to veterans, spouses, surviving spouses, and parents whose child was killed in combat can also live in veterans homes in Maine.

Education Benefits

Veterans Dependents Education Benefits Program

Main offers a program called the Veterans Dependents Education Benefits Program. It allows the children and other dependents of veterans to go to 8 semesters of school as long as those 8 semesters are completed within a 6-year time frame. In order to qualify for the program, one must be the dependant of a veteran who has a permanent disability sustained during military service, a service member who was killed in combat, a veteran who died because of a disability sustained during active duty, or an active duty service member who was a prisoner of war or who was missing in action. The veteran guardian has to have lived in Maine for at least 5 years before dying, or if still alive, must currently reside in Maine. The program covers tuition to the University of Maine System, the Maine Maritime Academy, and Maine community college.

Other Veteran Benefits

Veterans Memorial Cemetery

There are four different memorial cemeteries in Maine. There are two located in Augusta, one in Springvale, and one in Caribou. Veterans and their spouses and dependants can be buried in the cemeteries as well. The state of Maine funds the opening and closing of the grave, the headstone, and the upkeep of the grave for the veterans and their families buried there.

Hunting Licenses

Veterans who are over 50 percent disabled are eligible to receive free fishing, trapping, hunting, and archery licenses. With these licenses, veterans can hunt bears, wild turkeys, pheasants, birds, and coyotes, among other game. The license to hunt game in Maine is offered to veterans living in New Hampshire and Vermont as well.

Waiving State Park Fees

Disabled veterans who have special license plates are allowed to enter state parks and use state camping sites for free.