Andrew Stamp served in U.S. Army special forces for more than 10 years, deploying to both combat and non-conflict zones, where he advised foreign militaries and worked alongside U.S. ambassadors and government representatives. During his career, Drew attended over a dozen advanced military schools and graduated first of 150 Green Berets at the Special Forces Senior Leaders Course. Since providing his first financial literacy class in 2013 to his special forces team in Afghanistan, he has presented workshops on personal finance to thousands of service members ranging from Duke University cadets to U.S. Forces Command general officers. Drew has a master’s degree in business administration and is currently pursuing his Chartered Financial Consultant (ChFC) credential through the American College of Financial Services. He is married with three children and enjoys taking his family to new destinations across the US.
Can military members buy a home with a VA loan and rent it out to others? Upon first glance, VA loan regulations appear to prohibit renting, but there are ways you can rent out your VA loan-financed property. Can Military Members Buy and Rent Out a Home with a VA Loan? You must meet specific […]
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The VA loan is a powerful tool service members and veterans can use to become homeowners. However, everyone has a different idea of what homeownership looks like, whether that’s a townhome or several acres of land. Let’s talk about what home can look like when you use a VA loan. How Does the VA Loan […]
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The VA loan is an outstanding option for military and veteran home buyers. But are there any benefits–or drawbacks–for home sellers? Here’s what sellers should know about VA home loans. VA Loan Overview The Department of Veterans Affairs administers the VA loan program, but VA-approved lenders (e.g., banks, credit unions, and mortgage companies) originate the […]
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DFAS reserve military pay dates are the first and 15th days of every month unless those dates fall on a weekend or holiday. Whenever a payday falls on a weekend or holiday, pay is issued on the last workday preceding the first and the 15th. Reserve members are paid twice a month. The 15th is […]
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Nobody purchases a home intending to miss payments due to financial hardship. Homeowners will typically do anything they can to avoid defaulting on their loan. When homes go into foreclosure, those properties must be reclaimed by the lender and put up for sale in one form or another. One such type of sale involves repossessed […]
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The issue of security clearances comes up for both military members and civilian employees working for the federal government. Clearances are granted in order to allow troops, employees, and contractors access to sensitive information, facilities or circumstances and are not granted lightly. What you don’t know about the security clearance process won’t hurt you by […]
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If you want to know how to buy a military surplus vehicle, the first thing you will need to do is to find reputable sellers and avoid sources that may charge hidden fees, or use “gotcha” tactics to up the final cost of the purchase, etc. If you are new to buying a government surplus […]
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Can military members buy a home with a VA loan and rent it out to others? Upon first glance, VA loan regulations appear to prohibit renting, but there are ways you can rent out your VA loan-financed property. Can Military Members Buy and Rent Out a Home with a VA Loan? You must meet specific […]
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When two military members marry, they become a dual-military couple, also known as a mil-to-mil couple. Different branches of service may use other terms. Dual-military couples are relatively common. According to Human Performance Resources by CHAMP, nearly 7% of active-duty service members and nearly 3% of reserve and Guard members are in mil-to-mil marriages. Dual-military […]
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Ever since the announcement of the United States Space Force (USSF), there have been many contemplating the types of military careers that could happen as a result of having a new branch of military service. Once the Space Force became a reality, it brought a wave of interest not only from those who are considering […]
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Transitioning out of the military can be an overwhelming, stressful experience for veterans. Not only are you likely moving to a new location and providing for your family, but you also may be recovering from a combat situation and re-learning what life is like in the civilian world. You may need some support as you […]
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When selling their homes, some people choose to cut costs by not using a real estate agent. These homes are known as for sale by owner, or FSBO, properties. And, for veterans using their VA loans to purchase homes, they should understand the unique considerations for this type of sale. As such, we’ll use this […]
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Those considering joining the US Reserve Armed Forces must weigh the pros and cons of serving as a Reservist. And it’s not as easy as simply deciding you want to serve part-time in the military rather than going for a full time career in uniform. There are nuances in each branch of service–some don’t want […]
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What is the difference between military service on Active Duty, as a member of the National Guard, or as a Reservist? There are many nuances, and those new to the recruiting process soon learn there are multiple options for a career in uniform; not all involve a full-time commitment to the military. Active Duty Military […]
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For Reserve and Guard service members, calculating military retirement pay is an important part of financial and life planning. Eligibility to receive military retirement pay is based on service points earned during service. Those points rely closely on the professional choices a service member makes. Do you need to know how to calculate Reserve or Guard […]
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The VA loan is a powerful tool service members and veterans can use to become homeowners. However, everyone has a different idea of what homeownership looks like, whether that’s a townhome or several acres of land. Let’s talk about what home can look like when you use a VA loan. How Does the VA Loan […]
Read More
The VA loan is an outstanding option for military and veteran home buyers. But are there any benefits–or drawbacks–for home sellers? Here’s what sellers should know about VA home loans. VA Loan Overview The Department of Veterans Affairs administers the VA loan program, but VA-approved lenders (e.g., banks, credit unions, and mortgage companies) originate the […]
Read More
Due to unfortunate circumstances, veterans often ask how they can use the VA loan after a foreclosure. In other words, when a home financed with a VA loan is foreclosed upon, can veterans still use their VA loan benefits? They can, but certain restrictions exist. In this article, we’ll explain how veterans can use their […]
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How does Reserve pay work? If you’re considering a career as a Reservist, understanding the factors that determine your monthly earnings for drill weekends and mobilization to serve on active duty is important. Reserve pay functions like active duty pay in some respects but is quite different than others. Knowing the difference is huge, especially […]
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Due to the VA loan’s outstanding terms, veterans and military members often ask how the VA loan’s one-time restoration of entitlement works. In other words, how can eligible borrowers use this one-time restoration to access their VA loan benefits again? In this article, we’ll explain how to use this one-time restoration of entitlement, including: VA […]
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VA home loans, like most mortgage-loan transactions involving a new purchase loan, require an appraisal. The VA appraisal process is sometimes referred to as an inspection, which often misleads homebuyers. Here’s a look at the differences between a home inspection and a VA appraisal. What Is a VA Home Inspection? Borrower-arranged VA inspections help home […]
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TS/SCI stands for Top Secret/Sensitive Compartmented Information. For a TS/SCI clearance, the Department of Defense extensively vets military members and civilian employees. You can read about average security clearance processing timelines in our article here. Here’s what you need to know about getting a TS/SCI security clearance. Security Clearance Levels For members of the Department […]
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Security clearances are essential for many federal service jobs and military occupational specialties. Whether you are a military or civilian member of the Army, Air Force, Navy, Coast Guard, Marine Corps or Space Force, you’ll need a security clearance to access the classified information you need to do your job. Getting a clearance is not […]
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Military service often requires a security clearance. Whether you’re a military member, a federal civilian employee or a contractor, you must obtain a security clearance if you need to access classified information while working for the Department of Defense (DOD). DOD may also require you to have a clearance to work with certain equipment or […]
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What kind of VA disability rating is possible for sleep apnea? Sleep apnea is a condition that, like all other VA-compensated disabilities, must have an established connection to military service in order to get an award for VA disability compensation. Service-connected medical issues, including sleep apnea, may be deemed to be directly caused by military […]
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United States military members will see their largest-ever pay increase in 2023 – a 4.6% hike, according to the Bureau of Labor Statistics’ Employment Cost Index (ECI) and the 2023 defense budget. President Biden signed off on the 2023 defense budget, approving the 4.6% bump. Basic pay is the largest component of military service members’ […]
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Joining the military as a Reservist means serving your country while maintaining civilian employment and a mostly civilian lifestyle (outside of monthly and annual duty requirements). Before people make the choice to join the military as a Reservist, they naturally want to know what their chances of deployment might be. That depends on the nature […]
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On Dec. 14, 2022, the U.S. Department of Defense released Basic Allowance for Housing (BAH) rates for 2023. The latest BAH rates increased an average of 12.1% starting on Jan. 1, 2023, marking the largest percent increase in over a decade. BAH is intended to cover 95% of housing expenses, with service members paying the […]
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A “Veteran” designation is now offered on driver licenses and ID cards in all 50 states, Washington, D.C., and Puerto Rico. The state, district and territory programs make it easier for veterans to access government benefits and discounts at restaurants and retailers. Many only require U.S. Department of Defense DD Form 214, but some require […]
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The VA home loan offers eligible borrowers an incredible home buying option. With its no-down terms, the program opens homeownership to people who couldn’t afford a 20% down payment. But, many service members don’t know if they qualify. As a result, we’ll use this article to outline VA home loan eligibility requirements for all potential […]
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Military bonuses are paid to troops for a variety of reasons: enlisting or reenlisting into a short-staffed career field, “quick ship” military enlistment bonuses, etc. There are even military bonus options for those returning to duty in the Guard or Reserve after prior military service. Are you an Airman, Coast Guard member, Soldier, Sailor, or […]
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The Purple Heart is awarded to those with qualifying combat injuries, and it’s among the highest military honors available for those who serve in wartime, or while in combat against those hostile to the United States. The honor isn’t just symbolic; receiving a Purple Heart also means access to some important military and civilian benefits. […]
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A Personally Procured Move (PPM), formerly known as a DITY Move, has a few benefits over a Government Procured Move (GPM). A PPM allows you to have complete control over the process including packing your own household goods and choosing which moving company you want to use (if any), but it also gives you more […]
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