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VA Mortgage Use Surges to 100% in Phoenix -- Here's Why Retirees Love Sunny Arizona

The iServe Blog


Veterans are flocking to Phoenix Arizona in record numbers; VA home mortgage loans have risen over 100% in the last year. What makes Phoenix and other, similar destinations so popular with service members and retired veterans? The answer lies in the benefits offered by VA loans, the great weather and easy affordability of these communities.

Home Ownership Continues to Surge for Veterans

The overall rate of homeownership in the United States is 65%, but for veterans, the rate of homeownership soars to 82%, thanks to the affordable options offered with a VA home mortgage loan. With low or no down payments needed, flexible credit guidelines and an easy, streamlined process, VA mortgage loans may be more attractive than ever to service members.

Why is Phoenix is so Attractive to Retiring Veterans?

What makes Phoenix and other hot destinations so appealing to retiring veterans? According to the Huffington Post, VA loans and residential lending for retirees are at an all-time high in locations like Arizona, Nevada, Florida and North Carolina for many reasons, including:

  • Weather: It gets hot, but air conditioning and affordable energy costs make these warm weather destinations appealing to retirees and ensure that activities are available all year round.
  • Cost of Living:  Not only are homes more affordable, but everything from groceries to consumer products and even gasoline is offered at lower prices in these retiree friendly locations than in other parts of the country.
  • Recreation opportunities: Since spots like Saint Augustine Florida, Phoenix Arizona and Myrtle Beach South Carolina offer beaches and year-round recreation opportunities, active retirees flock to these zones.
  • Low, affordable taxes: All the states appealing to retirees offer low tax rates, both on property and on purchases. South Carolina has one of the lowest property tax rates in the nation, since the state shifted the responsibility for school taxes to businesses instead of individual homeowners in recent years.
  • Senior living choices: While healthy retirees are flocking to these areas in droves, states like Arizona offer unsurpassed access to senior healthcare, assistance and even in-home care options. Those with an eye towards future needs are making homes in these senior friendly states.

Get the Help You Need with your Home Loan

No matter where you live, the professional team at iServe Residential Lending, LLC is ready to help. We’re familiar with the VA lending process, from the basics like take your initial residential mortgage application and Certificate of Eligibility to more complex issues like using your VA benefits for specialized housing if you are a disabled veteran. Contact us to learn more about making the most of your VA mortgage benefits and for help every step of the way.

We love our veterans and work hard to make sure you have everything you need to become a homeowner or refinance your home. Thank you for your service to our country!

 

iServe Residential Lending, LLC is not affiliated with or acting on behalf of or at the direction of the VA or the Federal Government.

Programs, terms and guidelines subject to change without notice. Not all applicants may qualify. All loans subject to underwriter and investor approval. Arizona Mortgage Banking License BK-0920658; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, CRML License  413-0646; Colorado Supervised Lender #988552; Georgia Residential Mortgage Licensee License #19613; Licensed by the New Jersey Department of Banking and Insurance License # 512567; Licensed Mortgage Banker—New York State Department of Financial Services License # B501014; (www.nmlsconsumeraccess.org). iServe Residential Lending, LLC, NMLS #2914-15015 Avenue of Science Suite 250, San Diego, CA 92128 Phone: (858) 486-4169