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Hello, I wanted to share some info that might be well known but just in case there are other people like me who had no idea.
My wife (veteran) and I have been going through the underwriting process for awhile now. We live in Illinois and most of the information about the Disabled Veteran Property Tax Exemption makes it sound like you have to own your home prior to applying for the exemption.
I assumed the loan officer couldn’t factor that info into our loan (with taxes monthly mortgage is $2000, without it is $1600). BUT THEY CAN.
The shit thing is we weren’t informed about this (despite our lender knowing my wife was 100%) until a week before closing. Some things happened that prolonged our underwriting process and randomly the lender revealed she could add that in so help us secure the loan.
The paperwork is called “Hold Harmless for Tax Exemption”. I’ll upload a blank sheet for you all. Basically it means you pinky promise to go get your shit together to be property tax free ASAP after closing.
Here is info about property tax exemption by state prop tax info
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