Nevada
Branches located in Nevada
VA Loans in Nevada
The VA Loan is a crucial benefit for military families and veterans, facilitating homeownership with advantageous terms. In Nevada, particularly in cities like Las Vegas, Henderson, Reno, and others, 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 Nevada*
| Las Vegas | $419,215 |
| Henderson | $481,545 |
| Reno | $548,480 |
| Spring Valley | $418,865 |
| Sunrise Manor | $352,055 |
| Paradise | $390,907 |
| Sparks | $507,629 |
| Carson City | $473,555 |
*Data provided reflects current market trends
Property Taxes in Nevada
While Nevada boasts one of the lowest average effective property tax rates in the nation at 0.55%, rates vary by county, ranging from 0.44% to 1.04%. To understand specific tax rates applicable to your property, visit your county’s Assessor and Treasurer pages:
Carson City | Churchill | Clark | Douglas | Elko | Esmeralda | Eureka | Humboldt | Lander | Lincoln | Lyon | Mineral | Nye | Pershing | Storey | Washoe | White Pine
Insurance Programs in Nevada
Nevada's diverse geography exposes it to a range of natural risks, including wildfires in rural areas and flash floods in urban settings. Comprehensive homeowners insurance is essential for protecting properties against these risks, especially for veterans using VA Loans, who are encouraged to secure policies that cover all potential hazards.
Veteran/Military Property Tax Exemptions in Nevada
Nevada offers several property tax exemptions for veterans, including:
- Wartime Veterans Exemption: Available to veterans who served in any major branch of the US Armed Forces during wartime. Eligible veterans must have served at least 90 continuous days of active duty and own the property.
- Disabled Veterans Exemption: For veterans with a service-connected disability of at least 60%, this exemption provides a reduction in property taxes based on the degree of disability incurred.
Veterans can apply these exemptions to their real property taxes or as a credit towards vehicle registration fees at the Nevada Department of Motor Vehicles. Surviving spouses may also qualify under certain conditions.
Military Presence in Nevada
Nevada is home to several significant military installations, including:
- Nellis Air Force Base: Located near Las Vegas, known for its advanced aerial combat training.
- Creech Air Force Base: Also near Las Vegas, primarily involved in the operation of unmanned aerial vehicles.
VA Home Loan Volume in Nevada*
| Total Loans | 6,019 |
| Average Loan Amount | $423,288 |
| Total Loan Amount | $2,547,771,444 |
| Total Purchase Loans | 4,782 |
| Total Purchase Loans % | 79.45% |
| Total IRRRL Loans | 54 |
| Total IRRRL Loans % | 0.90% |
| Total Cash-Out Loans | 1,183 |
| Total Cash-Out Loans % | 19.65% |
*Data pulled from the Department of Veterans Affairs (2024)
FAQ’s about VA Loans in Nevada
For more detailed information on utilizing VA Loans in Nevada 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.
