The state of Nebraska outlined with the state flag overlaid on top of it


VA Loans in Nebraska

The VA Loan is a crucial benefit for military families and veterans, facilitating home ownership with advantageous terms. In Nebraska, particularly in cities like Omaha and Lincoln, the VA Loan program is popular due to its $0 down payment requirement, absence of private mortgage insurance, competitive interest rates, and flexible credit score requirements. These benefits make the dream of homeownership more achievable for veterans across the state.

Median Sale Price of Homes in Nebraska*

Omaha $281,902
Lincoln $278,468

*Data provided reflects current market trends

Property Taxes in Nebraska

Nebraska is known for having some of the highest property tax rates in the U.S., with an average effective rate of 1.51%. This rate translates into a significant annual tax burden for homeowners, highlighting the importance of understanding and possibly mitigating this expense through available exemptions and benefits.

Veteran/Military Property Tax Exemptions

The Nebraska Homestead Exemption Program provides a full or partial property tax exemption for eligible veterans and their surviving spouses. To qualify, veterans must have served during designated wartime periods, and must own and occupy their homestead from January 1 through August 15 of the taxable year. The exemption also extends to veterans who are 100% disabled due to service-related injuries, offering significant financial relief.

Insurance Programs in Nebraska

Nebraska's geographic location exposes it to a variety of natural risks, including tornadoes and severe storms, making comprehensive homeowners insurance vital. Veterans and military families using VA Loans are encouraged to consult with insurance professionals to ensure their policies cover all potential natural disasters, protecting their homes and financial well-being.

Military Presence in Nebraska

Nebraska is home to several critical military installations, which contribute significantly to local and national defense. Notable bases include:

  • Offutt Air Force Base: Located near Omaha, it serves as the headquarters of the U.S. Strategic Command and the Air Force Weather Agency, playing a crucial role in global military operations.

VA Home Loan Volume in Nebraska*

Total Loans 2,505
Average Loan Amount $301,619
Total Loan Amount $755,556,489
Total Purchase Loans 2,012
Total Purchase Loans % 80.32%
Total IRRRL Loans 25
Total IRRRL Loans % 1.00%
Total Cash-Out Loans 468
Total Cash-Out Loans % 18.68%

*Data pulled from the Department of Veterans Affairs (2024)

FAQ’s about VA Loans in Nebraska

For detailed information on utilizing VA Loans in Nebraska or to learn more about property tax exemptions for veterans, please refer to our comprehensive guide or contact our experts for personalized advice and support.

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