BAH and Rehab?
When you purchase a property that requires a bit of work is it possible to use some of the BAH you receive to help pay for rehab on the home? Is that allowed under the VA loan? (I will be around Valdosta, GA if anyone is familiar with the real estate in that area)
Hey Nasir! Im actually in the Air Force in Valdosta. Shouldnt be any reason why you couldnt use your BAH to rehab your home. its your money so you can do whatever you would like with it!
-Matt
Oh perfect would you be able to let me in on the markets in that area? I am still in the process of figuring it all out.
#4 Military Investors Contributor
- Investor
- San Diego, CA
@Nasir Smith You can use BAH to pay for whatever you want. The military doesn't require that it all go to housing. You just get a flat rate based on your rank, location, and if you have dependents or not.
@Nasir Smith think of BAH as part of your normal salary. You can do whatever you want with your money!
- Real Estate Agent
- The Short Term Shop / Florida Emerald and Forgotten Coasts
- 121
- Votes |
- 214
- Posts
@Nasir Smith- what the rest of the class said! I know a lot of guys who just drink it away! You're on the right track to use it for rehab vs de-hab.
Like everyone else said, you can use your BAH for whatever you want. You may want to talk to someone who thoroughly understands VA loans because there is a way to get rehab costs funded in the loan backed by the VA. Similar to the FHA 203k loan. For the rehab, you'll need a licensed contractor and a full scope of work. But talk to a lender who truly knows the ins and outs of the VA loan requirements. I personally have never done this so I cannot speak from experience.
