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Veteran's Guide to Homeownership

Here at CENTURY 21 Scheetz, we thank you for your commitment to protect and serve. We believe that you deserve to be able to settle down happily in your dream Indiana home. Owning your own home in Indiana can help with payment stability, boosting your credit score, and be a valuable asset for you. Homeownership as a veteran can also present unique challenges that need to be considered before you start the home buying process. With over 30 years of experience assisting military families with their home sales and purchases, we’ve accrued some tips for veteran homeownership so that you can take full advantage of your military benefits.

Managing Your Finances

Ensuring that you are in a good place financially is the first step in purchasing a home in Indiana. Make sure to take into consideration all potential costs when budgeting for the purchase. You will need a down payment, which is typically 5% for a conventional loan. With a VA loan, you may be able to purchase a home without a down payment. A deposit is also typically included with a purchase offer, which can range up to $1,000 and can be put towards closing costs. An appraisal and home inspection are both necessary costs that have varying prices and usually range around $300-$400 each. Closing costs are an area where negotiation between the buyer and seller can be done pertaining to who will be responsible for the costs. Your agent will be able to guide and support you through understanding and managing these different costs. 

In addition, you should seek out a mortgage pre-approval in order to determine what you will be able to afford. Your pre-approval amount should be considered the top of your budget, and you should take time to determine what amount you will personally be comfortable with. As a veteran or service member, you may be eligible for a VA loan, which comes with the benefits of having no downpayment, low interest rates, and limited closing costs. The program comes with a lifetime benefit, meaning you can use it multiple times. 

CENTURY 21 Scheetz offers substantial benefits for veterans through the Military Rewards Program and Navy Federal Credit Union RealtyPlus. The Military Rewards Program is for both buying and selling and offers $350 to $7,500 in cash back or rewards for military personnel, veterans, and their extended families. You can learn more about the Military Rewards Program here, which can be used by Indiana residents or anyone relocating to Indiana. As a Preferred Real Estate Company with Navy Federal Credit Union, CENTURY 21 Scheetz is recognized as the top-performing broker in the nation. Our trained agents are able to offer exceptional service to Navy Federal members if you enroll in the NFCU for free. See more about our Navy Federal Credit Union RealtyPlus program here.

Finding Your Home

Many people's home search often begins with casual browsing, but both your options and your chances of finding your dream home may feel overwhelming. Creating a list of wants and needs realistic to your budget will help you narrow your search while browsing or look for specific information when attending open houses in Indiana. You can start browsing homes with CENTURY 21 Scheetz here. Be sure to take into account what kind of community you want to live in and your desired uses for the space. Envisioning your future in a home may seem difficult if you are an active service member, but our team of Military relocation - certified REALTORS® are here to take the stress out of your transfers. Let us help you discover your dream home. Reach out to us about our programs and start your Indiana home buying journey today.

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