{"id":18429,"date":"2021-02-02T13:18:22","date_gmt":"2021-02-02T13:18:22","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=18429"},"modified":"2021-02-02T13:18:22","modified_gmt":"2021-02-02T13:18:22","slug":"growing-buying-segment-may-offer-you-a-new-niche","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/growing-buying-segment-may-offer-you-a-new-niche\/","title":{"rendered":"Growing Buying Segment May Offer You a New Niche"},"content":{"rendered":"

Growing Buying Segment May Offer You a New Niche<\/h1>\n
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Veterans are bullish when it comes to homeownership. A recent survey by Fannie Mae showed a slight decline in overall homebuying confidence among the American population, but among veterans, that confidence is growing.<\/p>\n

Indeed, 58% of veterans say they plan to buy a home within the next five years, according to The 2021 Veteran Homebuyer Report, produced by Veterans United Home Loans based on a survey of about 1,000 vets. That could amount to 11.3 million potential veteran buyers, the report notes.<\/p>\n

\u201cVeterans have a deep desire to own a piece of the American dream they vowed to defend,\u201d says Chris Birk, vice president of mortgage insight at Veterans United, a lending company that works with veterans.<\/p>\n

Despite a rise in home prices, vets feel financially ready to buy. Sixty percent of veterans surveyed believe their financial situation will improve during the year. Fifty-nine percent believe they will be able to get the home of their dreams.<\/p>\n

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Fannie Mae<\/p>

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Many veterans overestimate the down payment and credit score they need to qualify for a mortgage. Nearly 90% of veterans believe they need at least a 670 FICO score to qualify for a home loan. Also, 41% believe they need to put down more than 20% of a home\u2019s purchase price. Many veterans are eligible for a VA home loan, which requires no down payment. The report found, however, that only 3% of vets said they believed they\u2019d be able to get a mortgage with no down payment.<\/p>\n

VA Loans Are Having a Record Year<\/a><\/p><\/blockquote>\n

Like the general population, the pandemic has affected homebuying plans for vets, the survey finds. Nearly half of veterans cited the COVID-19 pandemic as a source of uncertainty and a potential barrier to buying a home this year. But 43% of those surveyed said they bought a home sooner than they had planned due to the pandemic; 32% placed their homebuying plans on pause; and 21% decided to refinance on their current home.<\/p>\n

The top 10 reasons vets want to purchase a home are:<\/p>\n