Military Housing: How to Purchase a Home Using Your BAH
U.S. Military families sacrifice enough with the financial hardship that often accompanies military careers. Too many familes in the military sacrifice their financial future by not pursuing home ownership. Understanding the rules for military housing doesn’t have to be confusing. Most service members do not realize there is a way to get out of the renter lifestyle and actually buy a home paid for entirely or largely by their Basic Allowance for Housing.
We all know that military salaries are not the largest in the world. It’s often necessary to utilize all available tricks at your disposal to buy a house. One of the best places to turn is the BAH, which stands for the military’s Basic Allowance for Housing, paired up with a V.A. loan.
It is possible, especially in cities where home values have eased significantly since since the 2005 and 2006 highs, to buy a house using your military housing allowance. There are some specific military regulations that apply when you choose to receive a Basic Allowance for Housing. The rules vary according to which branch of service you are in, but basically, married military personnel living off base are entitled to a housing allowance that can really help buying a home.
When spouses in the military are separated, or both spouses are members of the military, they can qualify to get a loan to buy a house paid for by their BAH. While each branch of service is slightly different in its rules, an agent who specializes in providing military relocation services can help you navigate these rules and develop a strategy that fits your family. While we specialize in San Antonio relocation services, we also handle relocations anywhere in the U.S.
Military housing allowance rates are assigned differently based on three factors:
- Military pay grade
- Your location
- If you have dependents
If you know these three pieces of information, you can get the official BAH rates for free and you’ll know how much money you can count on each month to qualify for a VA home loan.
Need more information? Let us help you out! Contact Kurt at 210-254-2485.
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