Money Saving Tips for United States Veterans
United States veterans are able to take advantage of many benefits just for being a veteran. There are often discounts for the movies, restaurants, hotels, auto rental, theme parks, travel discounts and more. These discounts are just a few of the perks that come with being a veteran of the U.S. military.
Follow these tips to save even more money as a U.S. veteran.
1. Show it. You should get into the habit of showing your military ID everywhere you go. Many places don’t advertise the discounts that are available to veterans. Getting into the habit of presenting your ID everywhere you go is sure to provide many additional discounts to you and your family.
2. Buy a home. Many veterans feel that purchasing a home is outside of their reach. The United States Department of Veterans Affairs offers VA loans specifically for you. It has been estimated that over 30 million Americans qualify for but don’t take advantage of VA loans.
3. No down payment. As a veteran, you are able to purchase a home and pay a $0 down payment. This is the biggest reason why buying a home with a Veteran loan is so advantageous. You don’t have to worry about incurring out-of-pocket expenses.
4. Mortgage insurance. If you have ever owned a home with a conventional mortgage, you know how expensive mortgage insurance premiums can be. With a VA loan, you aren’t required to get mortgage insurance or pay expensive mortgage insurance premiums.
5. Closing Costs. VA loans even offer closing cost incentives. Conventional mortgage contracts can require the seller to pay for up to 3% of the buyer’s closing costs. With a VA loan, the seller can be required to pay for up to 6% of these costs.
6. Taxes. As a veteran, you can receive many tax incentives. A portion of your pay could be eligible for being tax-exempt. You could also receive greater deductions for your home and more.
You deserve so many benefits for being a US veteran. Luckily, the United States Government and organizations within the private sector recognize this and offer countless benefits to veterans around the country.
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