Over 22 million veterans have achieved homownership through the VA Home Loan program, a special program run by the Department of Veteran Affairs for the United States armed forces. And quite a few of them seem to have taken up residence in Las Vegas.
More specifically, they’ve taken up residence in The Ogden, an iconic 21-story tall high-rise condominium tower, situated right in downtown Las Vegas. The building has sold over 65% of its properties so far, with more than 10% being owned by active or retired military personnel.
Thanks to the community’s flexible financing options, low maintenance requirements, great security, and spacious floor plans, it’s no wonder so many veterans flocked to the building.
Stephanie Reese, the Director of Sales for The Ogden, says that it’s thanks to their partnership with The Federal Savings Bank that they house so many former and current members of the armed forces.
“We partner with The Federal Savings Bank, one of the largest privately held, veteran-owned banks in the United States, to make home ownership a reality for many buyers who otherwise wouldn’t be in a position to finance a mortgage.”
Unlike a conventional loan in which buyers are required to provide anywhere from 3% to 5% on a down payment, a VA loan allows military personnel that are eligible to buy their homes with no down payment needed. And it offers a lower average interest rate than most other loans.
Marylou Soto, a retired the United States Air Force veteran, purchased her home at The Ogden because it offered a very short commute to her family-owned business. She’s had many positive things to say about her experience at the luxury tower.
“I now wonder what took me so long to convert to this lifestyle given how little maintenance is required to take care of my home. I was sold on The Ogden’s sense of security, its location in the heart of downtown Las Vegas where there is so much to do, see and experience, as well as the tower’s friendly staff and neighbors that truly make it feel like home.”
There are many other such stories from the residents at The Ogden, as veterans from all over the nation have made their way to the residence. Some have traveled even as far as from Wisconsin, leaving their previous suburban lives behind, to live closer to the downtown location.
The building is owned by DK Las Vegas, and since acquiring it in 2013, they have made a $2 million investment into renovating it — refreshing the lobby and adding new upgrades throughout all residences, including lighting, hardwood floors, granite countertops, and much more.
They’ve even added a rooftop pool.
The location itself serves as a prime spot for veterans young and old, with more than 150 restaurants right outside. These include some of Vegas’ most popular eateries, bars, and attractions, adding even more excitement to the ever-changing downtown Las Vegas.
For those interested, The Ogden offers flexible financing options, included VA and Fannie Mae-backed loans, making it easier for buyers to get their dream home. The homes in the tower range from a two-bedroom 1,180-square-foot residence at a mid $300,000 price, to a larger three-bedroom and den starting in the low $500,000.
The second option is around 2,044 square-foot per home.
The Ogden hopes to keep attracting veterans and other interested home buyers and to give a true downtown Las Vegas feel to everyone staying there.