For military families, the promise of stability can sometimes feel elusive. With frequent relocations, unpredictable deployments, and a demanding work schedule, the concept of “home” becomes more than just a physical structure — it’s your anchor in a sea of constant motion. That’s why homeownership, when timed well, offers unmatched financial and emotional benefits to military homebuyers.

Debra Maxey, a branch manager and loan originator at AAFMAA Mortgage Services LLC (AMS), who has worked closely with military clients for years, recently shared her insights with us on the unique value that homeownership offers. Her perspective weaves together financial strategy with real human need, highlighting not just what’s practical, but what’s possible.

Related: Download our Homebuying Guide

AMS: Can you describe how owning a home helps build a solid financial foundation?

Debra Maxey: Owning a home offers something paying rent to someone else doesn’t: an investment in your future. Each mortgage payment is part of that investment, building your ownership stake in a property that can appreciate, generate rental income later, or be sold for profit down the line.

In addition to building equity, you are stabilizing your housing cost. With a fixed-rate mortgage, you have a reliable, set payment to make each month. Knowing exactly what you’ll pay is key, especially since rent often increases annually. U.S. rents increase on average by about 4% each year. Based on national data, if you’re paying $1,800 per month in rent today, you could end up spending over $238,000 in rent over 10 years due to those annual hikes. That’s money you’ll never get back.

AMS: What about deducting your mortgage interest payments from your federal taxes?

DM: We always start this conversation by asking you to consult with a tax professional, but yes, that’s another financial benefit for homebuyers. In the first year, on a $300,000 home purchased with a VA Home Loan (assuming 0% down, no PMI), at 6%, you may have about $3,960 to deduct. That’s an average deduction, although the interest paid in year one may be closer to $18,000, your itemized deductions may be limited. Check with your tax advisor and Bankrate has a calculator at its website that can help Armed Forces Mutual Members compare mortgage-deduction savings with their numbers.

Related: Do’s and Don’ts for a Smoother Mortgage Process

AMS: What other cost benefits can homeowners expect?

DM: If we use the same $300,000 example, across 10 years, your total out-of-pocket cost to own a home would be about $268,000 — roughly $30,000 more than renting, primarily due to upfront costs like taxes and insurance, and VA funding fee if applicable. But that’s only part of the story. During this period, the homeowner is also building equity, potentially owning over $60,000 to $80,000 worth of the home outright after 10 years of mortgage payments. That “forced savings” dramatically offsets the higher costs and can lead to significant long-term net gains. So, in addition to the federal tax benefit for the interest that you pay every year, there are quite a few financial benefits to home ownership.

AMS: What about the non-financial benefits of homeownership? 

DM: For many military families, emotional security is equally important. There’s pride in yourself that you’ve been able to secure a home for yourself and your family. You just have that emotional gratification.

Plus, you can personalize the home however you want. Unlike a rental property, where décor changes need approval and lease terms can shift, homeowners can make a space their own, inside and out. From paint colors and flooring to landscaping and furniture, the ability to personalize isn’t just aesthetic — it’s a psychological signal of permanence, belonging, and self-determination.

In a lifestyle that often includes rapid change and separation, owning a home offers a rare point of consistency. Knowing your housing cost won’t suddenly spike or that your landlord won’t sell the property from under you can bring immense peace of mind. Keep in mind you will need to pay for property taxes, homeowners insurance, and maintenance costs, and those costs may vary over the years you’re in the home.

AMS: How about the ability to put roots down in a military-friendly community?

DM: Yes, indeed, military families often form close-knit networks for practical and emotional support. Homeownership strengthens those bonds, encouraging deeper investment in the neighborhoods where families live. Especially if you have kids and there are neighbors with kids, you can build that “village.” So if you need help or backup, you’ve got a neighbor to call.

Being rooted in a stable neighborhood can give military children a greater sense of continuity and safety, helping them forge friendships, join extracurricular activities, and thrive academically. Even for adults, the sense of belonging and shared responsibility fosters resilience and mutual support, especially during deployments or long shifts.

AMS: One benefit many Members may not realize is that by using a VA Home Loan to finance their purchase, they’re already getting ahead. Can you elaborate on that?

DM: I always say the VA Home Loan is the military homebuyer’s secret weapon. VA Home Loans are designed to help Veterans, active-duty servicemembers, and eligible spouses access affordable financing with minimal barriers. You may qualify to not have to put anything down. You don’t have monthly mortgage insurance, but may need to pay a VA funding fee upfront You usually get a much better rate. For many military families, these benefits can make the difference between renting indefinitely and purchasing a first home.

AMS: What about the timing? Is this a good time to buy and start to experience financial and emotional benefits?

DM: It’s important to acknowledge that homeownership isn’t the right decision all the time. If a family expects to be stationed in an area for only a year or two, renting might make more sense. But in locations with high military density or strong rental markets, purchasing a home — even temporarily — can be a smart move. For example, a family that buys a home near a major base may be able to rent it out when they PCS, turning their property into an income-generating asset. And over the long term, owning multiple homes from different postings can become a robust investment portfolio, one that supports financial independence and wealth after retirement.

We’re Here to Help

Whether you’re thinking about buying, ready to start home-shopping in earnest, or considering a refinance, one of our Military Mortgage Advisors, a licensed mortgage loan originator, will be happy to provide you with an honest and fair comparison of your mortgage options, including a wide range of affordable mortgages designed to meet your needs.

Ensuring Armed Forces Mutual Members obtain the best mortgage possible is our mission. Get your free mortgage assessment today or give us a call at 844-422-3622!