Rent vs. Own with a VA Loan | Military.com

Rent vs. Own with a VA Loan | Military.com

BAH and Privatized Housing

I understand that Buying a Home is not for everyone however, I developed a chart below to put into perspective how much you are spending to live in privatized housing and what it would cost to buy a home using your VA loan. 

BAH for E-4 with Dependents: Privatized housing receives $1,686.00 This means the unit they are living in is worth more than $240,000.00? Is it? Are you deriving any tax benefit from this property?	BAH for E-5 with Dependents: Privatized housing receives $1,773.00 This means the unit they are living in is worth more than $280,000.00? Is it? Are you deriving any tax benefit from this property?	BAH for E-6 with Dependents: Privatized housing receives $2,223.00 This means the unit they are living in is worth more than   $340,000.00? Is it? Are you deriving any tax benefit from this property?
Example of owning your home at $240,000.00	Example of owning your home at $280,000.00	Example of owning your home at $340,000.00
Principal and Interest = $1,180.00 @ 4.25% interest	Principal and Interest = $1,377.00 @ 4.25% interest	Principal and Interest = $1,672.00 @ 4.25% interest
Property Tax average = $300.00	Property Tax average = $300.00	Property Tax average = $350.00
Homeowners Insurance estimate  = $50.00	Homeowners Insurance estimate = $50.00	Homeowners Insurance estimate = $60.00
Total Monthly Payment = $1,530.00	Total Monthly Payment = $1,727.00	Total Monthly Payment = $2,082.00

That being said, the average home price for sold homes in 2013 for Burlington County, which Joint Base MDL is part of, was $199,015.  Giving the example above and what the average home sold for in 2013 would put you well below what you are giving in BAH to Privatized Housing every month. So if you are looking to Buy a Home in 2014 please give Ken Flannery, your Local Real Estate Expert for Joint Base MDL, a call today!!  

Featured Browns Mills, NJ Home for Sale

206 Shawnee Trail Browns Mills, NJ 08015

2014 BAH INCREASE for JOINT BASE MDL

With Housing Prices still at Historic Low's for the JB MDL Community and the Housing Allowance Increase now's the time to Invest your BAH..  Call today for a Free VA Home Buying Consultation or simply create a new customer account to search and save your favorite Joint Base MDL Homes for Sale.  Some Joint Base MDL Communities include, Browns Mills, Cookstown, Bordentown, Mt Holly, NJ and Pemberton, NJ.

BUYER'S ADVICE: WHAT IS MIP, PMI, WHATEVER?

To encourage home buying during the Great Depression, the government created the Federal Housing Administration to provide insurance to banks on FHA-approved loans. If the borrower defaults, the bank is repaid in full and the home is taken over by HUD, the Department of Housing and Urban Development for sale.

Browns Mills Home Prices & Values

Browns Mills Home Prices & Values

CASH-OUT REFINANCING AS A WAY TO GET OUT OF DEBT

Cash-out refinancing is a way of accessing home equity by taking out a new mortgage with a larger principal than the current one. The difference in principal in the two mortgages is available to you to use as cash for almost any purpose you choose.