Soldiers Purchase Bigger, More Expensive Houses At Younger Ages, Survey Says

Active-duty service members are more likelymost likely to purchase homes at a more youthful age than their civilian peers, and to purchase bigger and more costly houses– in spite of having a lower median earnings, according to a new survey.Having more job

stability and alternatives for no-down-payment financing provides military home purchasers”a deserving benefit over their civilian peers, “stated Lawrence Yun, primary financial expert for the National Association of Realtors, who carried out the study.”In addition, their tendencies to wed and raise a family at an earlier age and bring less student debt make buying a house a more preferablea preferred and possible choice. “In addition, 74 percent of active-duty members who

responded and 54 percent of veterans utilized their Veterans Affairs Department homemortgage benefit.VA housemortgage are provided through banks, mortgage business and other personal lenders

. The VA guarantees a part of the loan, which helps the loan provider provide more positive terms to the customer. The benefit helps eligible borrowers buy a home at a competitive interest rate, often without requiring a down payment or private mortgage insurance.About 3 percent of the people who reacted were active task– less than 200.

It was a study of the basic population of house buyers based upon geographical location. Nationwide, less than 1 percent of the population is presently serving in the military.