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MilitaryAvenue.com Resources: Buying a Home

Is buying a home in your future?  Here are some resources from MilitaryAvenue.com to help prepare you to own a piece of the "American Dream":

  • What Every Home Buyer Should Know:   If you're thinking about buying a house now that the market has cooled, ask yourself these questions first. 1. What monthly mortgage payment can I afford?  As a rule of thumb, your total debt payments, including your home, should be less than 36% of your gross monthly income. But factors such as your credit score, monthly income, and assets may allow you to afford a mortgage with a higher debt-to-income ratio. ...
     
  • Can I Afford to Buy a Home?: So you're thinking about buying a home? And you're trying to decide if you can afford it? Well, pull up a chair, take out a pen and paper, and let's decide. Regardless of what type of home you choose, buying a house or condo usually requires getting a loan and making monthly payments. ...
     
  • Looking for a Home?: Think you’ve moved around a lot? Try talking to Kathie Hightower. The former soldier and Army reservist has relocated 20 times in the past 30 years. Crisscrossing the globe alongside her husband, Greg, who recently retired from the Army, Hightower has learned a bit about when and how to buy a house.  “We were very naive when we started,” says Hightower, a USAA member and co-author of Help! I’m a Military Spouse — I Get a Life Too! ...
     
  • 7 Things to Do Before You Buy a House  Recognize home-buying as a long-term commitment. The days of flipping houses for profit are over. Plan to live in or own the home for at least 10 years.  For military personnel with three- or four-year assignments, buying a home rarely makes sense. You'd be smarter to live below basic allowance for housing, and save the difference to build a chunky down payment and then buy when the time is really right for you....
     
  • Thinking about buying a home?: Buying a home is one of the largest financial decisions you will make in your lifetime, and it shouldn't be spontaneous. It's wise to consider the costs, the benefits and your lifestyle before you take the first steps to becoming a homeowner.  There are costs associated with getting the deal done before you even move into your new home. ...
     
  • It's not too early to think about Buying a Home: Industry experts will tell you that December is the best time to buy a house and spring is the worst. That may be, but many of us have kids in school and realistically, we are going to want to make the big move during the summer. So, February is a great time to begin formulating a plan of action. Between now and when the daffodils begin their reach to the first rays of spring sunlight, check out places that are already on the market. ...
     
  • Moving Tools: City Profiles: Browse city information such as: cost of living, taxes, home cost, insurance cost, crime rates, population, weather, education, etc. 
     
  • Home Sweet Home: Ownership has tax advantageWhen you sell a house, you are normally required to include the profit you made from the sale as income on your tax return.  For regular tax payers, this income may be excluded when certain ownership tests are met. Taxpayers may qualify to exclude from income in 2006 all or part of any gain from the sale of their main home -- the home in which they lived most of the time -- up to a limit of $250,000 or $500,000 on a joint return, in most cases. ...
     
  • New Beginnings – Buying a Home: Buying a home often represents a new beginning, whether you are moving to a different area of town or moving to a new city or state. There are many steps involved in buying a home, and the process can seem overwhelming. Whether you are a first-time home buyer or have bought and sold many times; the process is complicated and ever changing. ...  
     
  • Deceptive Mortgage Ads: What They Say; What They Leave Out: If you’re looking for a mortgage to buy a home or refinance an existing loan, you may see or hear ads with offers of low rates or payments. Whether you see them on the Internet, on television or in the paper, or whether they come by fax or mail, some of these ads look like they’re from your mortgage company or a government agency. ...
     
  • New Rule on Predatory Lending to Military: The Department of Defense has issued the regulation to implement Public Law 109-364, which protects military personnel and their families against predatory lending. The regulation took effect October 1st, 2007. Here's what you need to know
     
  • Getting the Best Mortgage Deal
     
  • Mortgage 101
     
  • Moving Tools: Mortgage Affordability Calculator
     
  • Mortgage Calculators
     
  • Second-tier Entitlement and VA Loans
     
  • Predatory Mortgage Lending
     
  • Who doesn't want good credit?
     
  • Title Insurance, Insurance For A Past Occurrence
     
  • Program Offers Housing Assistance for Servicemembers
     
  • DoD Expanded Homeowners Assistance Program (HAP)

 

Be sure to check out your local resources.  Find your installation and there you will find military friendly businesses to help you find and buy your home.  Our MiltiaryAvenue.com partners offer military discounts and incentives for your home purchase.  Look for these categories at your local installation under the category Real Estate on the left:

  • Real Estate Agents
  • New Home Construction
  • Real Estate - For Sale By Owner
  • Mortgages & Financing
  • Inspectors
  • Appraisals
  • Title & Escrow
  • Real Estate Misc



 

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