How to Buy New Homes Near Great Lakes Naval Base in Illinois

Owning a home can be a good investment.

The Great Lakes Naval Base is located north of Chicago near the shores of Lake Michigan. This navy base utilizes public-private partnerships to help its service men and women find and buy housing near the naval base.

Information Sources

The Automated Housing Referral Network (AHRN) maintains a database of available homes near the naval base. Buyers can also use local sources to find off-base housing from private home builders who build in tract subdivisions or they can employ a contractor to build a home for them. Real estate agents can also help in the search for a new home.

Financing

Members of the military can get Veteran's Affairs (VA) loans to buy new homes. The interest rates can be lower than conventional financing methods and VA loans may not require a down payment.

Advantages

New home builders can provide incentives for military members. As of October 2010, Pulte Homes and Town and Country Homes in Illinois provide 100% VA financing, and extend discounts on options to military members buying in their subdivisions, as well as applying the incentives the company extends to civilian home buyers.

References

• Automated Housing Referral Network
• Great Lakes Naval Station: Housing
• Pulte Homes: Chicago
• Town and Country Homes: Our Communities