Military Veteran Benefits in Nevada
Just over a quarter of a million veterans live in Nevada as of 2018 and we’ve got a list of major benefits that you may not know about that includes a veteran home in Boulder City.
VA Home Loans
We offer A $0 down payment mortgage option available to Veterans, Service Members and select military spouses. These loans are guaranteed by the U.S Department of Veteran Affairs.
Contact Us Today! (702) 696-9900
Our experienced team is ready to get you your dream home!!
Veterans Tax Exemption
Available to any veteran with wartime service. The exemption may be applied to either a veteran’s vehicle privilege tax or real property tax. You’ll need to take your DD214 or discharge papers to your local assessor’s office.
Disable Veteran Tax Exemption
Available for any veteran with a service-connected disability of 60 percent or more. The amount available varies between $6,250 to $20,000 of the assessed value, depending on the percentage of disability and the year filed. Must have an honorable discharge. Benefits can be passed to the widow or widower of a disabled veteran. This may be applied to vehicle or personal tax.
Veterans receive preference points when testing for open and open non-promotional examinations for state jobs. Must have an honorable discharge.
- 10 points: disables veterans with written proof of service-connected disabilities
- 5 points: veterans with honorable discharge, un-remarried surviving spouse of veteran
Veteran Education Benefits
National Guard: The University of Nevada system may grant a waiver of tuition and laboratory fees for any active member of the Nevada National Guard.
Children and Surviving Spouses (National Guard)
The University of Nevada system may grant a waiver of tuition and laboratory fees for any child or surviving spouse of a Nevada National Guard member killed in the line of duty.
A child may use the waiver for 10 years after they attain the age of 18 years. A surviving spouse may use the waiver for 10 years after the member's date of death.
Grant-In-Aid for the Family of a Member Killed in the Line-Of-Duty
Dependents of an active duty member killed in the line of duty while permanently stationed in Nevada may be eligible for a financial grant that does not require repayment.
Hunting & Fishing: Disabled Veteran
The State of Nevada Wildlife Division issues discounted hunting & fishing licenses to any honorably separated veteran who has a service-connected disability of 50% or more.
Hunting & Fishing: Active Duty
The State of Nevada Wildlife Division will issue a discounted combination license to Nevada residents stationed outside of Nevada and home on leave.
Honorably discharged Nevada veterans with a permanent disability of 10 percent or more can get a pass for free entrance to all state parks, camping, and boat launch facilities. There is a low annual renewal fee.
Remember if you’re in the market to purchase your dream home let us know!
In-House Processing | Underwriting | Funding & More
VA | FHA | Conventional | Reverse | Refinance & More
If you search the internet for 'home buying' you'll find an abundance of tips and tricks but they're all pretty much the same.
The end result is you purchasing your dream home so we're here to help you through the process from start to finish.
There are 4 categories:
Down Payment Tips
- 20% is a common down payment. We can go as low as 0% Down Payment on approved conditions
- Putting down less than 20% may mean higher costs for PMI (Private Mortgage Insurance)
- Explore mortgage options: 30 year fixed, 20 year or 15 year-fixed
(A) Conventional that conform to standards require as little as 3% down. 20% down no PMI required
(B) FHA (Federal Housing Administration) permit as little as 3.5% FICO Score of 580 or higher
(C) VA requires no down payment, no minimum credit score. May pay a VA funding fee.
Local Assistance Programs
- Down Payment Assistance Program- Qualify up to $20,000 towards closing costs and fees. (Call Us For More Information)
- Determine how much you can afford
- Check your credit and pause any new activity (Credit Karma, Credit Sesame or 1 free credit report a year from all 3 credit reporting)
- Avoid opening any new accounts such as credit cards or auto loans until your home loan closes.
- Compare rates from at least 3 lenders (Contact Us Today for a No Obligation Free Rate Quote)
- Getting PREAPPROVED!
- Higher the right buyer's agent
- Research nearby schools (This can affect home value)
- Look at the Local Safety and Crime Statistics
- Map the nearest hospital, pharmacy, grocery store and other amenities that are important to you.
- Take a drive through the neighborhoods on various days to get a feel for everyday living
It's All About the Budget Not The Bass
- Look at properties that cost than the amount you were approved for.
- Approval amount doesn't account for monthly expenses or problems.
- Shop with a firm budget
- Have fun going to Open Houses!
Mistakes to Avoid
- Not budgeting in closing costs which can run between 2% and 5% of your loan amount.
- Not Comparing prices for homeowners insurance, home inspections and title searches.
- Not saving enough for after move-in expenses
- Buying a home for today and not tomorrow
- Passing up the chance to negotiate
- Not knowing the limits of a home inspection
- Not buying adequate homeowners insurance
We're here to help you along the way. When you're ready to purchase let us know!
See Our Programs
See Our Team
It Really is Better to Buy than Rent in Las Vegas!
On the upside...
A study was published today by Trulia, a major Real Estate watch site, and Las Vegas is #2 behind only Miami as the best place to buy rather than rent. I'm sure that this will be on most of our Local News stations by this evening. They love to cover the latest Las Vegas Real Estate news.
As we have said before, this is the best opportunity in years to buy a home in Las Vegas! Currently, rates have been fluctuating quite a bit due to market uncertainty. For the past two weeks, rates have finished slightly highger. Don't wait for home prices to "drop a little more" and then find yourself out of position because rates have gone up too much.
Call our professional staff and get the ball rolling today! That way, you will already have provided everything needed in order for us to lock your rate as soon as you have an accepted offer on a property.
Call (702) 696-9900 or (888) 931-0007 and let Valley West Mortgage get you ready to close!
Military Benefit: Tax Credit Extended!
Service members who were deployed overseas between Dec. 31, 2008 and May 1, 2009 and for a minimum of 90 days; can still get the $8,000 tax credit on a First Time Homebuyer Purchase! Or you could qualify for the $6,500 tax credit for current homeowners buying a new home! All you have to do to take advantage of this tax credit is sign a purchase contract before April 30, 2011 and close by June 30, 2011! Remember, you must live in the home for at least 3 years to keep the tax credit or you will have to repay the credit to the IRS. Even that has an exception for military families if they must relocate on orders!
A First Time Homebuyer is defined as anyone who has not owned a home in the past 3 years so, even if you have owned a home before, you could qualify under this guideline if it was sold more than 3 years ago!
For current homeowners, there are also special benefits to allow you to sell your current home. The first $250,000 ($500,000 if married filing jointly) of profits on the sale of your current home can be tax free if you have lived in that home for at least two of the preceeding ten years, as long as you were on qualified extended duty and living at least 50 miles from your home or in Government Quarters.
To find out more, contact Valley West Mortgage at (888) 931-0007. We can help you get started on your VA or Active Duty Mortgage Application right now! Detailed information on Military Tax Benefits are also available at the IRS website, www.irs.gov . Just search "Armed Forces Tax Guide".