PHOENIX (3 On Your Side) – Tech-based real estate company Homie wants to help veterans find a place to call home.
“As we have seen in Arizona, the median price of homes continues to skyrocket and as a result many families no longer own their homes and we are also seeing a similar effect in the rental market,” said Elias Benjelloun, Social Impact Manager at Homie.
On Thursday, Homie is teaming up with several nonprofits to make sure veterans have information to help them search for housing and learn about the benefits they are eligible for. Anyone can participate in the United for Veterans Homeownership webinar, which is scheduled from 10:00 a.m. to 11:30 a.m. Arizona time. Benjelloun says there is a critical need for information for veterans who face 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 purchase a home,” said Benjelloun. “But not all veterans know about 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 amount of these loans in the state is around $ 295,000, which is slightly lower than the national average VA loan amount of $ 310,000.
The benefits of VA home loans include no down payment requirements, competitive low interest rates, limited closing costs, and no need for private mortgage insurance, also known as PMI, according to the Department of Veterans Affairs.
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