VA Loan and BAH

[armywifelong03]

I am just hoping to find someone w/ experience of going through the VA process while active.  We are active duty and are looking to buy in August.  We don't currently get BAH because we are in the Government Leased Housing Program, which means they take it before we get it. I know it will be counted as income, regardless because it is a ration.  It says our house value on the LES, which is the amount of our BAH.  I am trying to figure out what they underwriters are going to need? Obviously, our lease wont terminate until we close on a house and I want to see if this is going to give us any trouble.

I have already bombarded DallasLoanGuy with a thousand questions, so I thought I would give him a break.  

[working-hard-atit]

I gave them three months of LES's and the called my housing office to do a rent verification.  It's very simple and easy, my BAH goes straight to my housing office as well.

[armywifelong03]

Did your BAH show on your LES?  Ours doesn't at all, except in the house value.  It isn't listed under income.  I would hope that obviously they know that when we get a house, we will terminate said lease.  Thank you!

[working-hard-atit]

yes it does, it's listed as shown below:

Entitlements:

Base Pay           xxxx

BAS                   xxxx

BAH                   xxxx

[armywifelong03]

That's just it.  Ours doesn't.  The GLH is a program for recruiters not near a base and our BAH goes straight to Corps of Engineers for them to pay our lease and utilities.  In the bottom, in the notes section, it says, "Your quarters are valued at $1584" which is how much our BAH is, but our BAH won't show listed under income until we have a termination letter.

[working-hard-atit]

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@armywifelong03 wrote:

That's just it.  Ours doesn't.  The GLH is a program for recruiters not near a base and our BAH goes straight to Corps of Engineers for them to pay our lease and utilities.  In the bottom, in the notes section, it says, "Your quarters are valued at $1584" which is how much our BAH is, but our BAH won't show listed under income until we have a termination letter.

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Maybe you can get a letter from the Corps of Engineers finance office stating that you and your husband are paying that amount monthly.

[armywifelong03]

I think that is probably what we are going to do.  We are going to apply in August and will contact them in July to get a letter stating our BAH amount.  Once we terminate, it will show on the LES, it is just getting the info for approval purposes.  Ugh.  Thank you for your help!

[andycloses]

If those current credit scores are accurate, I would be placing top priority on getting those higher.

An income figue the size of Warren Buffet's won't help you if you're not credit-qualified for a VA mortgage.

[armywifelong03]

LOL, they aren't.  We are at 680s and above, across the board. I don't know how to change my signature.