Our Active duty, service members, and veterans are always top of mind with us, and so are their needs. These honorable individuals lead different lives than our civilians and we can now see that behavior play out in a recent survey completed by the NATIONAL ASSOCIATION OF REALTORS® (NAR), see more in the report 2018 Veterans & Active Military Home Buyers Profile, which they have released as a visual infographic.
There are several key points of interest, one being that there is a significant difference between non-military utilization of zero percent down home loans and Active Duty and Veteran usage. With 56% of Active Duty personnel and 41% of Veterans using this home loan option, we can see that this product clearly serves a need in the marketplace.
This particular loan option is not perfect for everyone, but many see the benefit and take advantage of the option. Sierra Pacific Mortgage is another mortgage lender that sees the needs of our service members in relation to real estate and can provide this option for those who qualify and whose situations would most benefit from using it. If you are interested in seeing if you qualify, please contact a local mortgage loan officer near you.
Another interesting finding of this survey is that a majority of Active Military and Veterans who have purchased a home have stayed within the same state as their current home and a larger percentage of these individuals have stayed within the same region, even more so than non-military homebuyers.
See more findings in the infographic created by the National Association of Realtors® (NAR) below.