Last month, the popular website, American Grit, interviewed AAFMAA Mortgage Services (AMS) COO Andy May.
Since frequent relocation is just a way of life for the military community, it can remove a lot of headache to know precise mistakes you can easily avoid. Three ways to avoid some of the big ones, according to May, are:
- Be careful with your hard-earned money. Before handing over a chunk of change to anyone in the moving process, read the fine lines of every contract and agreement to make sure there is an easy way to get it back. Know the terms surrounding “due diligence” and “earnest” payments.
- Beware of the “one stop shopping mortgage.” Make sure that none of the professionals you work with are involved in Controlled Business Arrangements (CBAs).
- Don’t use a VA Loan unless you know for sure it’s the best option. Even though the terms are attractive, there could be other loan programs that can save you even more money. The best fit isn’t the same for every military family.
For the full article, which includes fare more details behind each of these tips, visit: www.americangrit.com/2017/02/01/3-mistakes-military-members-make-buying-home.