REI benefits for disabled vets less than 100%

3 Replies

Hi, I just joined Bigger Pockets, and also just bought my first investment property several months ago. Excited to get more into the game! I served 10+ years of active duty and separated in 2014 (so, I’m not a retiree). I have a 90% Service-connected disability rating and am wondering if there are any tax (or other) benefits to disabled veterans that have LESS than a 100%/Permanent & Total rating (I am aware that in many states there are waivers of property taxes on principal residences for 100% disabled veterans, which does not apply in this case). Thanks, Ryan

Ryan, 

Welcome to the community! 

Property Tax Exemption For Texas Disabled Vets! Texas uses the sliding scale approach. I personally have a combined total of 80% which qualifies me for a $12,000 deduction on top of the Texas Homestead Exemption which is another $25,000. 

The Federal Government requires lenders to collect a fee called the VA funding fee. This fee was designed to remove much of the costs to the taxpayer that come along with the VA Home Loan Guaranty Program. The fee is usually around .5 to 3.3 percent of the total loan amount, but disabled veterans are exempt from paying the fee.

 lenders can count a veteran’s disability income as effective income towards a mortgage.

Some Lenders will also give cash back at closing if you use one of their "Military-Friendly" agents. The cash back amount is based on the final purchase price of the property. (Just FYI)

Thanks guys; much appreciated!

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