Airline pilots · Buying in your domicile
Home loans for pilots buying a house or condo in their domicile
Whether you are moving your family to base or want a place to stop commuting to a crash pad, the loan depends on how you will use the property. I am a current airline captain and a mortgage loan originator with Trident Home Loans, and I work with pilots at every airline.
Short answer: a pilot can buy in their domicile with a VA loan if the property will be their primary residence and they have entitlement available, or with a conventional loan if it is a second home or crash pad. Condos need an extra project review either way. The right choice depends on where you will actually live.
Step one: will you live in it?
Occupancy drives the loan type more than anything else.
Moving to base
The home is your primary residence. VA, conventional, FHA and jumbo are all on the table. If you are a veteran, a VA loan often means less cash to close because eligible borrowers may not need a down payment and there is no monthly mortgage insurance.
Commuting to base
If your family home is elsewhere and you want a place near the airport for trips and reserve, that is a second home. VA loans are for primary residences, so this is normally a conventional second-home loan with a down payment.
Buying to rent out
If the plan is to rent it to other crew members, it is an investment property. Different down payment, pricing and reserve requirements apply. Tell me the plan up front so the loan matches how you will use it.
Buying a condo near the airport
Condos are popular with commuters, and they add one step: the lender has to approve the condo project, not just you.
- VA loan on a condo: the project must be on the VA approved condo list, or be submitted and approved before closing. I check this before you write an offer.
- Conventional loan on a condo: the project goes through a condo review that looks at things like owner-occupancy, the HOA budget, insurance and any litigation.
- What to send me: the address and the HOA or management company contact. I can usually tell you quickly whether the project is likely to be a problem.
How pilot income is documented
- New hires: income from a new airline job may be eligible to use based on your offer and class date, with closing timed inside the allowed window around your start date. Subject to underwriting approval.
- Captain upgrade or equipment change: I need one full paystub at the new rate. You do not have to wait a year at the new pay.
- Base change: a new domicile at the same airline does not reset your income history. It can change which loan fits, depending on whether you move or commute.
- Standard documents: W-2s for the last two years and paystubs covering the most recent 30 days.
- Military pilots: Guard and Reserve income and VA disability compensation are documented separately and can count alongside airline pay.
More detail is in the airline pilot mortgage guide and the conventional loan guide.
Any base, any airline
Passenger and cargo, majors and regionals. I am licensed in multiple states, so tell me where you are based and I will confirm I can lend there.
Based somewhere else? Call me anyway. Trident Home Loans may have an originator licensed in your state.
Domicile questions
Can I use a VA loan to buy a condo in my domicile?
Yes, if you are an eligible veteran or service member, the condo will be your primary residence, and the condo project is approved by the VA. If the condo is a crash pad and your primary home is somewhere else, a conventional second-home loan is the usual route.
I commute to base. Can I use my VA loan for a crash pad?
Generally no. VA loans require that you intend to occupy the home as your primary residence. A place you only use around trips is a second home, which is financed with a conventional loan.
I just got hired and assigned a base. Do I have to wait to buy?
Not necessarily. New-hire airline income may be eligible to use with an offer and a class date when closing falls inside the allowed window, subject to underwriting approval. Contact me before you house hunt so the timing is planned around your start date.
I expect to change bases in a couple of years. Should I still buy?
It depends on the numbers. I can show you the break-even between renting and buying for your timeline, and what the home would need to rent for if you keep it after you move.
Do you work with pilots at every airline?
Yes. Passenger, cargo, major, regional, fractional and corporate. The underwriting rules are about how your income is documented, not which airline signs the check.
Buying near your base?
Send me the address or the price range and I will give you an estimate of the payment and cash to close.