Hi, If you decide to leave the Armed Forces altogether and have a property which was purchased using FHTB and some or all of the loan is outstanding, you will only be allowed to leave if the FHTB has already been repaid in full or you have made acceptable arrangements to repay the FHTB in full prior to your leaving date. Please speak with your Unit HR Administrator about the repayment methods. One method of repayment may come from re-mortgaging the property and repaying the FHTB loan from the re-mortgage money. You cannot leave the Armed Forces and retain the FHTB loan, regardless of whether you are re-mortgaging or not. Your repayments will continue at the allotted rate until you leave. Thanks, Malcolm.
Is there any chances FHTB house can go for letting. Becaus my base is very far from the home
Hi, yes, this could be a possibility for you.
Do you have to stay in the army for 10 years to pay it back or can you set up payment plans and get out early?
Hi,
If you decide to leave the Armed Forces altogether and have a property which was purchased using FHTB and some or all of the loan is outstanding, you will only be allowed to leave if the FHTB has already been repaid in full or you have made acceptable arrangements to repay the FHTB in full prior to your leaving date. Please speak with your Unit HR Administrator about the repayment methods. One method of repayment may come from re-mortgaging the property and repaying the FHTB loan from the re-mortgage money.
You cannot leave the Armed Forces and retain the FHTB loan, regardless of whether you are re-mortgaging or not. Your repayments will continue at the allotted rate until you leave.
Thanks, Malcolm.