New Study Details Active-Duty Military Homebuyer Trends

May 30, 2018

Fulton, Md.-based NewDay USA claims that it can approve many of the servicemembers and veterans who are denied on AUS

Active duty military personnel buying a home tend to be younger than the civilian population and put no money down on their purchase, according to the National Association of Realtors’ 2018 Veterans & Active Military Home Buyers Profile.

The new report found the median age for typical active-duty military personnel homebuyer was 34, compared to 42 for civilians. Active-duty military personnel homebuyers were also more likely to be married, have children and favor larger homes than their civilian counterparts. This demographic typically has lower median incomes ($84,000), albeit with more stable job security.

The report also found that 56 percent of active-duty military personnel and 41 percent of veterans put no money down when buying a home. Only seven percent of non-military buyers go that route. And when it comes to relocation, 82 percent of active-duty military personnel will move for their job, while 33 percent admitted they sought to profit from flipping their home and 11 percent were seeking a better neighborhood.

About the author

Phil Hall

Link copied

Published

May 30, 2018

Analysis and Data

Teensy Nudge Up For 30-Year Fixed-Rate Mortgage Rates

30-year FRM stays essentially flat following seven weeks of downward drift

The average 30-year fixed-rate mortgage (FRM) rate rose ever so slightly to 6.65% as of the week ending March 13, an increase from 6.63% the prior week, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Sam Khater, chief economist at the company, note...

Regulation and Compliance

New FHFA Director To Prioritize Efficiency Over GSE Re-Privatization

Industry groups applaud Bill Pulte’s confirmation as FHFA Director, pledge to work on U.S. housing affordability ‘crisis’

Now that the U.S. Senate has confirmed Bill Pulte as Director of the Federal Housing Finance Agency (FHFA), reports have it that Pulte’s top priority will not be removing Fannie Mae and Freddie Mac from government conservatorship. Rather, he’ll focus on rooting out any f...