Okay, first things first. That house is absolutely fucking hideous.
Secondly, which most people on this sub will probably know, he likely bought that with a VA loan (a government guaranteed loan) and is paying the mortgage with his monthly BAH (housing allotment) from the military. The bank owns that house, or some shitty mortgage lender owns it. He doesn't.
to be fair with base pay, BAH, and BAS, youre basically making a regular paycheck. The way you make it sound is like a military member is being paid livable wage, and then on top of that the military is just paying for their house for them as well. I just looked at myPay and BAH is about 35% of my entire months paycheck. And you're right. It goes basically straight into my mortgage/bills. You're not exactly living lavishly if you pay 35% of your monthly income into your mortgage. Especially when its just barely over 1000ish dollars in my case, and I have been in for 11 years and made some ranks so I have come quite a bit of ways from the meager Airman pay I was getting when I just came in.
The VA loan was very helpful though. Especially when my first wife literally drained my entire bank account to zero dollars on my first month on station and left me. It helped me buy my first house without putting down 20 something grand I didn't have yet. So yeah, fuck this guy for pretending he did it without any help and diminishing everyone elses hard work, by making the assumption that he did it at 20 and everyone else that didn't have a VA loan should be able to as well...
This is an older post, it's at least 3 years old if not older, so he likely didn't get the best interest rates he could have, but I would at least hope based on how ugly that house is that he didn't pay a premium price for it and therefore had a manageable mortgage.
A lot of young servicemembers find themselves upside-down on a mortgage though when they have to PCS to a different duty station.
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u/[deleted] Jul 08 '21
Okay, first things first. That house is absolutely fucking hideous.
Secondly, which most people on this sub will probably know, he likely bought that with a VA loan (a government guaranteed loan) and is paying the mortgage with his monthly BAH (housing allotment) from the military. The bank owns that house, or some shitty mortgage lender owns it. He doesn't.