Why Many Military Members Choose To Own Their Own Homes

May 25, 2024


Why Many Military Members Choose To Own Their Own Homes

Navigating the real estate market can be challenging, especially for military service members and veterans. Despite the availability of free on-base housing, many military members choose to own their own homes. Homeownership provides stability, an investment in your future, and a sense of belonging, no matter where your service takes you.



1. Stability and Security: Owning a home offers a sense of permanence and security, which is invaluable given the often transient nature of military life.

2. Investment Opportunity: Real estate can be a solid long-term investment, building equity over time.

3. Personalization: Homeownership allows you to make your space your own, reflecting your personal style and needs.




One of the most significant benefits available to military families is the VA loan. This loan is specifically designed to make homeownership more accessible and affordable for those who serve or have served our country. Here are the key advantages:


1. Lower Interest Rates: VA loans typically offer lower interest rates compared to conventional loans, saving you money over the life of the loan https://www.benefits.va.gov/homeloans/

2. No Down Payment: One of the most attractive features of a VA loan is that it requires no down payment, making it easier to purchase a home without the need for significant upfront cash https://www.benefits.va.gov/homeloans/

3. Flexible Qualification Requirements: VA loans have more lenient credit and income requirements, making it easier for veterans and service members to qualify https://myarmybenefits.us.army.mil/Benefit-Library/Federal-Benefits/VA-Home-Loans

4. Limited Closing Costs: The VA limits the amount you can be charged for closing costs, further reducing your out-of-pocket expenses  https://www.benefits.va.gov/homeloans/

5. No Private Mortgage Insurance (PMI): Unlike conventional loans, VA loans do not require PMI, saving you even more money each month https://www.benefits.va.gov/homeloans/




1. Check Your Eligibility: Ensure you meet the service requirements set by the VA. This typically includes a minimum period of service or a discharge under conditions other than dishonorable https://www.military.com/money/va-loans

2. Get a Certificate of Eligibility (COE): This document verifies to lenders that you qualify for a VA loan. You can obtain a COE through the VA, online, or via a VA-approved lender https://myarmybenefits.us.army.mil/Benefit-Library/Federal-Benefits/VA-Home-Loans

3. Find a VA-Approved Lender: Work with a lender experienced in VA loans to guide you through the process and ensure you maximize your benefits.

4. Pre-Qualify for Your Loan: Pre-qualification helps you understand how much you can afford and shows sellers that you are a serious buyer.

5. Start Your Home Search: With your pre-qualification in hand, you can begin searching for your new home with confidence. 




Choosing to buy a home as a military service member or veteran is a significant decision. The benefits of homeownership, combined with the advantages of a VA loan, make it an appealing option. Lower interest rates, no down payment, and flexible qualification requirements are just a few reasons why a VA loan is a crucial resource for military families. 


Are you a military service member or a veteran looking to buy or sell a home? We can help you understand more on the benefits of a VA loan, including why it is a crucial resource for military families. Contact us for more information!

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