Updated over 4 years ago on . Most recent reply
Active Duty Military Benefits
Hello,
My name is Kevin Larry and I'm an active duty army officer. I am trying to purchase my first home to start my journey to financial freedom. I am trying to come up with other ways of purchasing a rental property without using the VA loan. I would like to look at other options or benefits that are available to active duty military. I am looking at the Texas market (San Antonio). Any help with coming up with some creative financing would be helpful (small business loan, or any other type of loan).
Most Popular Reply
/Salute
The VA loan is pretty amazing, but it becomes better if you can wait until you separate if you think you will have any disability rating because at that point you no longer pay the VA funding fee which can save you thousands of dollars.
Check for state programs for first time home buyers and military members. I don't know what Texas has specifically but often times there are a variety of programs that offer a variety of free grants in the form of down payment assistance or closing cost assistance etc. This might be a decent place to start looking. https://www.tsahc.org/homebuye...
In addition places like Navy Federal Credit Union has RealtyPlus, an option where if you use one of their real estate agents, you receive cash back after closing. The cash back is based on the purchase price of the home and a standard 250k home would net you roughly $1500 in savings by using their agent. https://realestateperk.com/Rea...
*I am not affiliated with any of these companies.