Will the Military Pay My Home Closing Costs?
Dear Q&B --
If a military man in the Air Force buys a home and three years later gets orders to a new station, will the military pay for closing costs to sell the old house and help buy a new home in his new area?
Air Force Gary
Dear Gary --
Military officials and lawmakers know that moving is expensive, and the cost of living depends on your location. That's why they give you a Basic Allowance for Housing (BAH) to live off base and a Dislocation Allowance (DLA) when you move. Both of those allotments are aimed at covering some of those expenses.
What the military doesn't dictate is what you do with that cash. That means you can spend it on whatever housing you like -- rental, buying a home or living on base. All of those options come with some downsides, and closing costs and increased risk are two of the downsides to choosing to purchase a home.
In short, no, the military does not pay closing costs or give you money to buy a new home. If closing costs are too expensive, consider choosing a small upfront cost option like renting. Another method could be using a VA home loan, since that option requires no money down.
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