Mortgage lender Chase and nonprofit Operation Homefront will partner to place 100 wounded warriors, military members and veterans into Chase-owned homes.
Operation Homefront is a nonprofit that provides aid to active military, wounded warriors and veterans.
The new program — Homes on the Homefront — will provide transitional services for veterans and families chosen to receive the residences.
Chase, the lending unit of JPMorgan Chase (JPM), is offering real estate from its banked-owned inventory to applicants who are either active duty service members, in the National Guard or in the reserves or honorably discharged veterans. Other qualifiers include the soldier's status as someone who does not currently own a home. They also have to be financially capable of sustaining the residence past the initial transition period.
The homes are donated, providing the recipients a clean slate to start from. After the transition period, the owners will assume all other homeownership-related costs.
The program also considers surviving single spouses of soldiers killed-in-action and post-9/11 disabled veterans as potential recipients.
"This is an incredible gift from Chase to our men and women in uniform," said Jim Knotts, president and CEO of Operation Homefront. "Chase's imaginative, nationwide approach to providing quality homes to deserving service members and their families will make a huge difference in how these heroes can make that difficult transition and adjustment into productive civilian lives."