Benefits of a BAH
If you are an active military member a mortgage term you should familiarize yourself with is Basic Allowance for Housing (BAH). A BAH can provide uniformed service members equitable housing compensation based on housing costs in local civilian housing markets within the United States when government quarters are not provided.
Housing allowances have the potential to help defray or entirely cover monthly mortgage payments and mortgage lenders can count on BAH’s to assist as an effective income towards qualifying mortgages.
Do you qualify? A member with permanent duty within the 50 United States, who is not furnished government housing, is eligible for Basic Allowance for Housing. If you have any questions regarding BAH’s do not hesitate to contact America’s Moneyline today!