Posted on Mar 1, 2015
Does living on post/base help or hurt your opportunity to purchase a house in the future?
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Living on post/base takes your payment history off the credit records. Could living on post/base for prolong period hinder your future home purchase?
Posted 10 y ago
Responses: 2
Living on post can hurt your future purchasing opportunities, but it's based on each individuals situation. Don't overextend your payments over time, keep your bills to a manageable amount so that you can qualify for a home purchase.
I've been very fortunate in our home purchases (we've bought four homes), we bought our first home as a 20 year old Specialist....I decided early on in my career that I'd buy a home at each stateside duty station we were stationed. The only stateside assignment we did not purchase a home was while stationed at Fort Polk, LA. We were very lucky on our first home - we rushed into the purchase but it turned out to be a great purchase - we were lucky. We did our research of the neighborhood, the realtor as well as community research before purchasing the other homes. Again, we've been very lucky but I always recommend purchasing a home as early as you can afford it, and in an area that you could rent the home if needed.
I've been very fortunate in our home purchases (we've bought four homes), we bought our first home as a 20 year old Specialist....I decided early on in my career that I'd buy a home at each stateside duty station we were stationed. The only stateside assignment we did not purchase a home was while stationed at Fort Polk, LA. We were very lucky on our first home - we rushed into the purchase but it turned out to be a great purchase - we were lucky. We did our research of the neighborhood, the realtor as well as community research before purchasing the other homes. Again, we've been very lucky but I always recommend purchasing a home as early as you can afford it, and in an area that you could rent the home if needed.
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MAJ David Vermillion - You should still be able to utilized credit cards to provide debt based history. That should allow you to continue building a credit rating without significant impact.
v/r,
CPT Butler
v/r,
CPT Butler
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