Information For Military Homebuyers

Found 30 blog entries about Information For Military Homebuyers.

Virtual Reality Tours Make Home Shopping Easier for Military HomebuyersThe traditional VA home-buying model is based around the seller listing and sometimes staging a home. On the other end, the military buyer receives a long list of homes from their agent, tours several in-person, applies for a VA loan, and makes an offer on the one they like best. However, this model doesn't work well for those deployed in one location and looking for a home near their next duty station. Virtual reality provides a way for these people to see potential homes from afar and on their own schedule. Read on to learn about how virtual reality is improving long-distance home shopping for members of the military.

How Virtual Reality Works

Virtual reality is changing the homebuying experience by allowing users to experience the home with

12 Views, 0 Comments

How Much House Can I Afford on My Military Compensation?Because houses are usually the largest assets in a portfolio, buying a new home requires great attention to detail. To get the most out of your investment, it's important to have a precise idea of what is affordable. Although determining a budget may seem overwhelming, a military homebuyer has several ways of assessing their housing budget. Why does budgeting matter? Properly budgeting basic allowance for housing can help military homebuyers build equity without taking on an abundance of debt. Below, we'll go through four ways military personnel can develop a budget to buy a new home.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Finding an

28 Views, 0 Comments

How to Buy Land with a VA LoanNot everyone wants a house in the suburbs. Many people dream of building a home in the country with a range of features that they choose for themselves. VA Loans, in most cases, can't be used to buy raw, unimproved land. This is because they are intended to purchase a primary home that the veteran and their family will live in. There is an exception built in, however, for people who want to buy land and a custom-built home at the same time. If someone is buying a lot to build immediately and funds a construction loan simultaneously, they can qualify for a VA loan.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

When Can Someone Buy Land with a

74 Views, 0 Comments

Property Taxes When You're in the MilitaryIn many cases, active-duty military members and retired veterans can qualify for help with their property taxes. However, there are special circumstances for qualifying. Understanding them can help those who are eligible ensure they receive the best benefits.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

The Homestead Exemption

Many states offer a homestead exemption that allows property owners to deduct a large portion of their tax bill as long as their home is their primary home. One benefit that many states offer active-duty military members is a way to keep the homestead exemption, even when they might otherwise no longer qualify.

For

80 Views, 0 Comments

What Servicepersons Need to Know About Securing a VA-Backed PropertyIt's widely known that service persons of active and retired status qualify for home loans backed by the Department of Veteran's Affairs. However, there are certain situations in which the responsible party cannot meet their obligations under the program, and these properties often become available to civilians.

VA real estate owned properties (REOs) come under the possession of the Office of Veterans Affairs when a home is foreclosed on. Known as VA REO homes, these loans are often taken out with VA mortgages, so they go up for resale with requirements of a low or no down payment and can be secured at fair market pricing in most situations. The following information explores the process of buying a VA-owned property.

For informational purposes

83 Views, 0 Comments

What Are the VA Loan Occupancy Requirements?Government-backed loans through the Office of Veterans Affairs are commonly known as VA loans and are only available to veterans, active service members, and certain members of their families. VA loans offer zero or low down payments and great interest rates.

However, under VA loans for homes, there are occupancy requirements that must be met. That being said, there are also some exemptions. The following information details these requirements and exemptions for those considering undertaking this type of mortgage.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

The Time Constraints and Purpose of VA Loan Occupancy Stipulations

The purpose

249 Views, 0 Comments

VA Funding Fees: What They Are, Qualifying Exemptions, and Payment ArrangementsThose who are active or retired members of the US military looking to buy or refinance a home often consider going through the Department of Veterans Affairs. VA loans are excellent options with low down payments and interest rates, but there are certain funding fees that accompany them. The following information explains the purpose of the VA funding fee, exemptions, and how to pay.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

The VA Funding Fee Explained

The VA funding fee aims to help keep this loan guaranty program in operation for future veterans and military homebuyers for generations to come. The fee goes directly towards covering any losses

108 Views, 0 Comments

How to Buy a House with a VA Loan and Your Basic Housing Allowance (BAH)The Basic Allowance for Housing (BAH) is an incredible financial benefit that can be leveraged by eligible military members and their families to find a home.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

What Is Basic Allowance for Housing?

The Basic Allowance for Housing is a monthly stipend to help pay for off-base housing. These funds ensure that individuals who do not qualify for on-base housing still have access to quality housing. There are three broad categories of service members who are able to qualify for BAH:

  • Individuals who are required to live off-base because there is a shortage of housing on base
  • Married soldiers of
107 Views, 0 Comments

The VA Energy Efficient Mortgage GuideVeterans and reservists are among those who may be able to take advantage of a VA Energy Efficient Mortgage or VA EEM program. This option is best for those looking to make energy-efficient upgrades on their home that may help reduce their heating and cooling costs, as well as decrease the pollution and moisture that may enter a traditional home. Military personnel and their spouses may want to know more about the VA Energy Efficient Mortgage option before selecting a mortgage loan product.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Why Choose to Be More Energy Efficient?

Traditionally, owners of existing homes have had to contend with

94 Views, 0 Comments

Should You Choose Military Housing?One of the advantages of a military career may come in the form of military housing. Both individuals and those with families join the military every year and have to decide whether to live on or off base.

Because military housing is a big decision, reviewing this arrangement can help provide people with the clarity they need to make the right choice for their needs. What do military personnel need to know about this important choice?

What to Know About Living On Base

There can be financial savings to residing on base. In some situations, living on post translates to saving money that would have gone to rent and other costs of living. Individuals choosing to live on base do not receive BAH for their decision. In some cases, however, living

101 Views, 0 Comments