Tips For Buying A Home When You Are Active-Duty Military

Real Estate Blog

Owning a home is a goal that many people have, and reaching that goal is often a dream come true. Active-duty members of the military may only be stationed in a specific location for a few years before receiving orders to move, but that doesn't mean that military families don't want to own a home of their own. Luckily, purchasing a home while you are active-duty military doesn't have to be overly difficult. Use the following tips to help you buy a home in the next place that you are stationed.

Understand the VA Loan Process

A VA loan is a special type of mortgage loan program for active duty military members and veterans. VA loans are offered by a number of approved lenders, and the loan is backed by the U.S. government. Most military members opt for a VA loan due to the favorable interest rates, lower down payment requirements, and less-strict approval criteria. If you're planning on using a VA loan to finance a home purchase while you are active duty, it is important to do your research to ensure that you understand the process. You will also need to obtain paperwork that proves that you are eligible for a VA loan.

Work with the Right Real Estate Agent

When you're new to an area and want to buy a home, a real estate agent is a very valuable resource. If you're planning on buying a home, it is in your best interest to find a real estate agent who either specializes or has ample experience in assisting members of the military. An experienced real estate agent who works with members of the military will understand the VA loan process, as well as challenges that active-duty military members may face when buying a home in the area where they have been stationed.

Be Patient

If you're active-duty military, you may only live in your home for a few years, but it is still important to purchase the right one. Selecting the right house will ensure that your family is comfortable, but it will also make it easier when it is time to move. If you buy a nice home in a desirable area, you will be able to sell it for a profit when you receive new orders to move, or you can use the house as an investment property and rent it out. 

To learn more, contact a real estate agent about military housing for sale.


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