Real estate company offers home-finding assistance for Arizona veterans
PHOENIX (3 On Your Side) – Homie, a tech-based real estate company, wants to help veterans find a place to call home.
“As we’ve seen in Arizona, the median home price continues to skyrocket, and so as a result many families are being price-starved and we’re also seeing a similar effect in the rental market,” Elias said. Benjelloun, head of social impact at Homie.
On Thursday, Nov. 11, Homie is partnering with several nonprofits to ensure veterans are armed with information to begin a home search and learn about any benefits they may be eligible for. Anyone can join the United for Veterans Homeownership webinar, which is scheduled from 10 a.m. to 11:30 a.m. Arizona time. Benjelloun says there is a critical need for information for veterans who are facing questions about foreclosure assistance, homelessness prevention and homeownership.
“Veterans have the option of participating in the VA loan, which is a special loan program that makes it much easier for veterans to buy a home,” Benjelloun said. “But not all veterans are aware of this resource and there are quite a few veterans who still have housing issues.”
According to data from the US Department of Veterans Affairs, there were nearly 59,000 VA home loans in Arizona this year. The average VA loan size in the state is about $295,000, which is slightly lower than the national average VA loan size of $310,000.
Advantages of VA home loans include no down payment requirement, competitive interest rates, limited closing costs and no private mortgage insurance, also known as PMI, according to the department. of Veterans Affairs.
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