Fort Campbell Soldiers Get Help with Home Buys
Fort Campbell, Kentucky – Soldiers stationed at Fort Campbell who are looking to buy a home will get some assistance from a new program at the post's credit union. The Fort Campbell Credit Union is offering the "Home Front Mortgage", which requires no down payment. Fannie Mae has pledged to buy the mortgages on the secondary market. The army post is home to the 101st Airborne Division.
John Moorhead, CEO of the credit union, says home buyers typically have trouble obtaining loans if more than 36% of their imcome goes toward paying off debt. Military personnel can obtain these loans if up to 45% of their income goes toward paying of the debt.