An outline of Nevada

Nevada

VA Loans in Nevada

The VA Loan is one of the most powerful tools available exclusively for military families and veterans. In Nevada, veterans and active-duty military have been taking advantage of the benefits of the VA Loan in cities such as Las Vegas, Henderson, Reno, Spring Valley, and Sunrise Manor.

The cost of homes across the United States has been steadily increasing in recent years. With a $0 down payment requirement, no PMI, lower interest rates, and a more relaxed credit score requirement, the VA Loan is making homeownership a reality for more military families and veterans in Nevada now than ever before. 

Median Sale Price of Homes in Nevada*

Las Vegas

$400,000

Henderson

$460,000

Reno

$550,000

Spring Valley

$450,000

Sunrise Manor

$345,000

Nevada Statewide Average

$74,900

*Data pulled from Redfin (October 2022)

 

Property Taxes in Nevada

In the state of Nevada, property taxes are among the lowest in the United States with a rate of 0.53%, which is well below the national average of 1.07%, according to SmartAsset. Property tax bills must be paid annually by the third Monday in August. There are several tax exemptions in Nevada that you may be eligible to take advantage of including for senior citizens, disabled veterans, and more.

VA Disability in Nevada

Common property tax exemptions are reserved for veterans, disabled veterans, seniors over the age of 65, and more. Since these exemptions can vary by county and state and often have strict qualification standards, not every veteran or homeowner qualifies, but those that do are able to reap the benefits of significant savings.

Disabled veterans in Nevada that have a 100% service-connected disability can get a property tax exemption on their primary residence of up to $20,000 of the assessed value. Veterans that have a disability rating between 80%-90% can get a $15,000 deduction, and those that have a rating 60%-79% can get a $10,000 deduction. Since these rates can vary based on location (i.e., exemptions in Las Vegas may be different from those in Reno or Sunrise Manor), you’ll want to contact your local municipal tax assessor’s office.

Insurance Programs in Nevada

Natural disasters can happen anytime and are often unexpected or occur suddenly which makes it critical that you and your family are sufficiently covered. The most common natural disasters in Nevada that homeowners are insured against include wildfires, floods, earthquakes, and severe storms. The best way to ensure you’re getting the best coverage for your location; we recommend you consult with a licensed insurance company.

Military Presence in Nevada

Nevada is home to three military bases, two Air bases and one Navy base. The largest base in Nevada is Nellis Air Force Base which is used for air combat training and has over 10,000 military and civilian employees on base every day.

VA Home Loan Volume in 2021 in Nevada*

Total Loans

27,792

Average Loan Amount

$330,266

Total Loan Amount (ALL)

$9,178,749,028

Total Purchase Loans

7,752

Total Purchase Loans %

27.89%

Total IRRRL Loans

16,530

Total IRRRL Loans %

59.48%

Total Cash-Out Loans

3,510

Total Cash-Out Loans %

12.63%

*Data pulled from the Department of Veterans Affairs (April 2022)

Click here to request more information about the VA Home Loan
WHY WAIT?
Start with an Instant Prequalification.

START TODAY

FAQ’s about VA Loans in Nevada

How do I buy a house in Nevada? The best way to get started is to give us a call or fill out this form to get started!

How do I find more information about property taxes and exemptions for veterans in Nevada? Click here to read more details regarding major property tax exemptions in every state.

What are the average interest rates in Nevada? Interest rates for VA Loans are often lower than the national average rates for conventional loans. Click here to learn more about interest rates here