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GI Bill Housing Allowance

Profile picture for TrishaMarie
My husband works full time, but is also going to school full time using his GI Bill. We recieve a monthly housing allowance (BAH) for 36 months as long as he is enrolled full time. Can we count this money towards our income when applying for a home loan?

Thanks!
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October 13 2011 - San Diego
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Answers (3)

American dream?

We're guaranteed Life, Liberty and the Pursuit of Happiness. That's it.

There's nothing about borrowing money.

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February 26
Profile picture for W_74
It doesn't work no matter how hard you try.  You serve your country yet the American dream is denied to you.  Keep pyssing away rent money.  At least that's what I get told.

I pay a lot of money for rent but would pay half on a mortgage and I could put anywhere from 20-50% down on most single families in MD I'd want to live in (very good at saving).  Nope, tough crap.  I don't "make" enough despite working part-time and getting my housing allowance.

Did I mention I have 700 credit and NO DEBTS WHATSOEVER.  Doesn't matter.  Income is all that counts.  A history of savings and creditworthyness (which one would think would count more than relying on a job and having nothing to fall back on should one lose it) would count but it doesn't.
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February 26
Profile picture for amckeon

Most loans require continuance of 3 years of any type of income.  You stated you have 36 months of the allowance; when did this start and when will it end?  I would assume you need the BAH for qualifing?   

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October 13 2011
 

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