military – The Lawhead Team https://marilynlawhead.com The Lawhead Team, Because Two Lawheads are Better than one! Mon, 16 Jul 2018 22:29:40 +0000 en hourly 1 Military Members On A Home Buying Mission https://marilynlawhead.com/military-members-home-buying-mission/ Mon, 16 Jul 2018 22:29:40 +0000 http://www.marilynlawhead.com/?p=4799 The latest One Cool Thing has some great info for members of the military!

The Lawhead Team would like to share the latest One Cool Thing about “Military Members On A Home Buying Mission”.

Did you know active-service military members and veterans make up the smallest group of homebuyers?

Of all home buyers, 2% are active-service military, 17% are veterans and 81% are non-military. Check out what they are purchasing and how:

Active-Service Military Buyers –

  • 50% are first time home buyers
  • 68% are first time sellers
  • 56% completely financed their home with no down payment
  • 77% of active-service military buyers use a VA loan to buy their home
  • 15% used a conventional loan to buy their home

The average home for active-military home buyers are a 4 bedroom, 2 bath house approximately 2,050 square feet.

Military Veteran Buyers –

  • 19% are first time home buyers
  • 26% are first time home sellers
  • 41% military veterans completely financed their home with no down payment
  • 58% used a VA loan to buy their home
  • 66% of military veterans use a conventional loan

For military veteran buyers, the average home they bought was a 3 bedroom, 2 bath house with approximately 1,960 square feet.

Non-Military Buyers

  • 35% are first time home buyers and 39% are first time home sellers.
  • 39% non military buyers are first time sellers.
  • 7% completely financed their home with no down payment
  • 66% used a conventional loan to purchase their home.

The average home for a non military home buyer is a 3 bedroom, 2 bath house with 1,870 square feet.

Source: National Association of Realtors.

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