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Tuesday, June 14, 2016

VA Loans

Active Military Are Buyers Active-service military buyers between the ages of 18 and 35 are purchasing homes at a “far greater rate” than non-military buyers – 51 percent versus 34 percent, according to the National Association of Realtors®’ newly released Veterans & Active Military Home Buyers and Sellers Profile. This is the first time NAR has released such an in-depth look at the military with the aim of evaluating the differences between active-service/veteran real estate clients and those who’ve never served. Despite their lower median income ($76,800), active-service military members tend to have more job security, says Lawrence Yun, NAR’s chief economist. "No-down payment financing options...are giving aspiring home owners in the military a deserving advantage over their civilian peers,” he adds. “Furthermore, their tendencies to marry and raise a family at an earlier age and carry less student debt make buying a home a more desirable and achievable option.” Because of the tendency to marry and have children at younger ages, active-service members often purchase larger homes that cost more than those purchased by non-military buyers and veterans alike, according to the study. The loans available to the military prove to be a big perk. Veterans Affairs loans offer 100 percent financing for veteran and active-service home buyers. Source: National Association of Realtors®

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