Should You Buy a House While on Duty?

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The Federal Savings Bank informs readers of the dynamics of buying a home when being relocated due to active duty.

VA and FHA home loans at The Federal Savings Bank

The Federal Savings Bank

If you do decide to buy real estate, VA home loans can help you afford your new home.

The Federal Savings Bank often consults with active military families over suitable housing when they are relocated for a servicemember's duty. It can be difficult to choose whether to rent or buy a home when both options have advantages. If you do decide to buy real estate, VA home loans can help you afford your new home. Call the Federal Savings Bank at (877) 788-3520 to learn more.

Many families choose to rent because of the often unpredictable factors involved in active duty. However, purchasing a house can be a sound investment and might be the more affordable choice in the long run.

For Captain Michelle Kania, decided to buy a home in Hawaii, where she was stationed, was the smartest choice for her family, according to Honolulu Magazine.
"Things really got put in perspective when we broke down the numbers of what we would pay for a rental here," she told the source. "At $4000 a month for one of these houses, that would mean after three years of being stationed, we would have paid $144,000 to someone else's mortgage."

The Kania family qualified for a jumbo loan through the Department of Veterans Affairs, and their down payment was only approximately 1 percent of the loan.

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