Military millennials, big homebuyers in Killeen

KILLEEN – Killeen’s housing markets are on the rise and it is young people, many of them young military couples, who are leading the way.

“Last year and continuing into this year, the majority of our purchase volume has been driven by first-time homebuyers,” said Katie Miller, Navy-Federal Credit Union’s vice president of mortgage lending. “The vast majority of those are ages 25 to 34.”

“In Bell County and the Killeen (area), 70 percent of our first-time homebuyers are active-duty military,” Miller said.

Many young military men and women are investing in homes at a time when interest rates are as low as 3.2 percent for qualified buyers who take out VA home loans.

“Texas is absolutely hot,” Miller said.

“From 2013 to 2014, our purchase volume in Texas alone increased 41 percent. In Bell County, our purchase volume increased 80 percent. We recognize the opportunity in Texas.

We see ourselves as first-time homebuyer experts and VA experts so, when you talk about military millennials, that’s our bread and butter.”