Breaking News
More () »

Service & Sacrifice: Housing help for military families

A military family in Knoxville said government loans helped them buy into the housing market even during a life "on the move."

KNOXVILLE, Tenn. — Military families face unique stresses, not the least of which is housing.

“When I was in Guam, she moved the family to Washington,” said Jon Pilon.

He said he and his wife faced a challenge raising two children on a military salary, while also trying to afford a house.

“We didn't want to be 20 years out and not have any equity, because a lot of couples don't buy in the military,” said Colleen Pinon.

She convinced her husband the smartest financial decision for them to make was to buy a home instead of renting one, so they could start building equity while also he served in the military.

“We bought every duty station after that. And we've done really well,” said Colleen.

Her family has moved more than a half-dozen times so far.

“If you qualify for the VA loan, that's a great benefit. (It has) 100% financing, very little out of pocket, and a great option for veterans and for military (families),” said Andrew McGranaghan of Wallace Real Estate in Knoxville.

Before You Leave, Check This Out