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Written by Chris Birk Updated on December 01, 2023

Practicing Responsible Homeownership

Homeownership remains at the heart of the American Dream.

That's especially true for veterans and the military community, who continue to own homes in greater numbers than their civilian counterparts.

A home can be a great vehicle to build equity, but above all else it's a significant financial responsibility. It's important for potential homebuyers to take a serious look at whether they're ready to handle that responsibility.

The VA loan program does a tremendous job helping ensure veterans can truly afford the homes they purchase. In fact, this no-down payment program has had the lowest foreclosure rate of any mortgage on the market for nearly all of the last six years.

Still, there are no guarantees. Job loss, family changes and scores of other things can affect your financial health. The mortgage still needs to be paid.

Here are a few key financial considerations for prospective homebuyers to keep in mind: