DH is leaving a very well-paying job for the military. We've been spending 50% of what's left at the end of the month toward past debts of medical bills and student loans, and the other 50% is saved. DH will take a 37% pay cut to join active duty.
How? I'm a FT student and SAHM to a 2yo and 4yo. (4yo just started half-day pre-k, which severely limits the time I could potentially work without having to fork out more for day care.)
Everything I read has been contradicting. Some say we can, some say we can't.
We're in the state of OK, DH basic and AIT is at Ft. Sill.
Does BAH and BAS count toward income? Do we have to share that with the DHS, even if we're living on base later on (wherever he gets PCS)? Does it count in gross income to qualify?
With all of his pay, after our expenses - mortgage, insurance, car payment ((---before any of you go off, it's our only vehicle and my DS does not have a bus to school as there is no pre-k within bus routes to our school district (we live in one city, school district we are assigned is in another and they don't bus over here from the Pre-k), and we're paying 11% interest to rebuild credit at 28 and 30 yrs old---)) insurance, utilities, phone (we only have one line, DH has a work phone we don't pay for) food, gas back and forth, day care, college tuition,(mine, some of which will eventually go to his GI Bill), internet (required for my two online classes) we are only looking at about $100 slack at the end of the month. We're gonna need the help! Please tell me it's available?
We're in a first-time-homebuyer's program and have 14 months left on our contract before we can refinance or sell the home without damaging our credit. So, at this time, selling our home is NOT an option.
Asked by Anonymous at 6:11 PM on Aug. 27, 2013 in Military
Answer by LeJane at 10:13 PM on Aug. 27, 2013