The Guide to VA Homebuying
Homeownership has always been a desire of Veterans as they fought to protect the country they love. The comfort, stability, and security of homeownership has many benefits.
- You have payment stability: With a fixed-rate mortgage, your principal and interest payment won’t change during the term of your loan. For many buyers, that’s 30 years of stability.
- Your property can build equity: You own a little more of your home with every mortgage payment you make. As the years pass, you can use that equity by either borrowing against it or by realizing a substantial return when you choose to sell.
- Homeowners have the freedom to alter their home without a landlord’s approval.
- Your credit can improve with homeownership and unlock future credit opportunities. Remember that making your payments on time will help boost your credit score.
- You can get many tax advantages through homeownership such as a tax deduction for property taxes, and mortgage insurance expenses. Make sure to consult a tax professional before basing your home buying decision on its tax benefits.
This is one of the biggest financial transactions you’ll ever make. Be sure to fully understand that owning a home comes with both benefits and challenges. Honestly decide if you are ready for this life-changing step!
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