Whether you are on active duty, in the reserve or Guard, a veteran or a retiree this section helps you understand your military pay, allowances, and military compensation package. Your military pay provides you with a solid base of military income. While there are many additional military financial support programs, your military basic pay is the fiscal foundation of your military career. Military pay tables for enlisted service members and for military officers are based on rank and grade, making it easy to calculate basic pay based on your military standing.
Military allowances - money you receive over and above your basic pay - supplement your costs of living for everything from housing to childcare, from clothing to relocation expenses, and much more. Some military allowances are even tax exempt, allowing you to use your after-tax military pay for other necessities, and even lifestyle luxuries.
Changes in pay grade, duty status, your military occupation, duty station, or deployment status can have an impact on your pay. Understand your basic pay, then learn how military benefits and military bonus programs can add up to your most expansive military lifestyle worthy of you and your family. You've earned it; you're part of today's U.S. military.
Basic Pay is given to members of the active duty military on a monthly basis. It is determined by their pay grade and their length of time in military service. Basic Pay, also known as Base Pay, is the same for all the services. The enlisted pay chart includes pay rates for all grades from E-1 through E-10 and for durations of military service ranging from less than four months to over 40 years.
Members of the Selected Reserve perform a minimum of one weekend drill per month and two week period of job-specific training. In exchange for drill, Guard/Reserve members receive monthly drill pay, which is equal to one day's active duty base pay for each drill period. When deployed or in Initial Active Duty Training (IADT) they are temporarily placed in full Active Duty status for the duration of their deployment or training orders.
Incentive and Special Pay can be received in addition to Basic Pay. A member entitled to special duty assignment pay may receive such pay in addition to any other pay and allowance to which they are entitled. Members who meet requirements may be awarded a special duty assignment rating to receive additional pay relative to combat, specified duties, and unique training.
There are several types of BAH to satisfy various housing situations that occur among military members. In general, the amount of BAH you receive depends on your location, pay grade, and whether you have dependents. Under most circumstances, you receive BAH for the location where you are assigned, not where you live.
In doing my research comparing a VA loan versus a conventional loan, it appears that if you put 20% down on a conventional loan...
I used by VA home loan eligibility on a home purchase back in the 80’s. I paid it off years ago. I want to purchase another home...
I am active duty military and government housing is not available at my base. Can a VA lender can count my BAH income...