Ok, so I am going in as an Army E-4. Can I buy a home right after AIT? Will they take into account my BAH which I want to use to largely pay my mortgage.
The home I want to buy is 80-100k, I may talk them down to 75k, but my base pay is only 21k a year. Will they take into account all of my income, including BAH?
Where will the VA Loan make a positive difference? I heard you can move in with no money out of pocket which is good news as I plan to use my 8k bonus to pay off and sell my car to further qualify.VA Loan and home-buying question for those who've been there; how do I buy?
i would wait before i bought a house seriously...because you arent going to have enough money for a house insurance a car etc if its just you..will make a difference if you are married...yes va you dont have any money down coming out of your pocket..so many young military people end up foreclosing on their houses because they get in over their heads ....they will take into consideration your bah and any other bills you have...why sell off your car? you need something to drive right? anyway if you are serious about buying a house right off the bat..you should check out militarybyowner.com its a way for military people to sell their houses and you can find your state and your base and see whats available..we sold our house in nc on there to another military member...good luck..i would think about it though for a whileVA Loan and home-buying question for those who've been there; how do I buy?
First you need to contact the VA and obtain a Certificate of Eligibility. You will need a DD214 or current enlistment paperwork. You can present that to any VA Lender and that should help move the process along.
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