Archive | December 2016

Military Pay Increase 2017 BAH and basic pay VA loan buyers

If you want to know what changes have been approved for Military Families for 2017. Pay attention to the base pay and basic allowance for housing changes.  

On December 8, 2016, the full Senate passed the final conference report for the 2017 National Defense Authorization Act by a vote of 92 to 7. The bill will now move to President Obama for final signature. If approved by the President, the 2.1 percent pay raise for 2017 will become effective January 1, 2017.

Military pay will see a 2.1 percent increase for 2017, compared to 2016 levels. The military pay tables below apply to active members of the Navy, Marines, Army, Air Force, and Coast Guard.

The calculator above (and related tables below) reflect 2017 monthly pay based on the 2.1 percent pay raise, which is effective as of January 1, 2017. This pay increase will be reflected in the January 15 paycheck.

The 2017 Basic Allowance for Housing (BAH) rate has increased on average by 2.4% or approximately $41 per month, according to a Defense Department news release. The new BAH rates will take effect on January 1, 2017 and service members will see their first increase on their January 15th pay.

 

The overall rates are based on area- areas such as Washington DC and Northern VA will have a higher allowance than areas in Hampton Roads and Virginia Beach. To find your area go to http://www.militaryrates.com/military-pay-charts,  But the litlle increase can still help those thinking of using their VA home loan benefit.

 

also BAH Update 12/11/16: Congress has agreed to not reduce the Basic Allowance for Housing benefits for new entrants beginning in 2018. The language originally called for only covering what service members actually pay in rent.  

Read more: http://militarybenefits.info/2017-bah-basic-allowance-for-housing-rates/#ixzz4TV4BeZCG

 

by DMVRealEstateChick.com

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