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Understanding Veteran Homeownership Benefits
When it comes to making a move, it’s safe to say you know a thing or two. You probably saw your fair share of moving during your military days, and now, as a veteran, you might be thinking of settling down. But whether it’s your first move or your final move, knowing where to begin can still be overwhelming. The good news is: thanks to your service, there are a number of homeownership benefits available to you. Check out these veteran homeownership assistance and reimbursement programs!
- Your Final PCS
When you retire from the military, you are permitted to make one last move to a location of your choice within the United States, known as your “home of selection”. Most service members transitioning out have one year to complete this move at government expense unless you apply and receive an extension. According to regulations, you can ask for an extension five times, pushing your final move up to six years after your official retirement date. However, extensions are at the discretion of the individual services.
- Military Rewards Programs
Through the Coldwell Banker Heritage Military Move Advantage, veterans and their spouses/children, as well as active duty and their spouses/children, may be eligible for $500 to $5,000 when you buy or sell a home. Through the Military Move Advantage, you are matched with a relocation professional, based on your individual needs, who will not only negotiate on your behalf but guide you through the buying or selling process. After closing, you’ll receive a cash reward, depending on eligibility.
- Lending Options
For a qualified veteran or family member, a VA loan can be a wonderful resource of benefits, such as higher loan value, no down payment, no private mortgage insurance, and much more. Reasonable credit and income requirements make VA loans an extremely popular program among veterans and active members of the military. If you’re planning to purchase a home, it is a good idea to speak to a lender about your financing options, prior to beginning your search. Not sure where to go? Ask your real estate agent. He or she will have some recommendations.
Ready to make a move?
If you are looking for more information on veteran housing benefits, check out www.militarymoveadvantage.com, or contact your local Coldwell Banker Heritage agent today
