Las Vegas Nevada
Explore all of your Las Vegas Nevada real estate options and take a look at the different areas and communities
before you decide upon any Homes for sale In Las Vegas
. There are many avenues that you can choose to research the area
and what they offer.
Please Contact me
if you need a lender that is prequalifying for homes
This information is courtesy of the Nevada Real Estate Division May 2018 for Las Vegas Nevada Real Estate
A new down payment assistance program is available in Southern Nevada. According to a publication the the NRED, here is the information for you!
Hope Brings You Home™ is a new down payment
assistance (DPA) program available to
select ZIP Codes in Southern Nevada, focusing on areas
still considered distressed from the housing crisis. This
first come, first served program will operate until its $36
million in funds are distributed. The Nevada Affordable
Housing Assistance Corporation (NAHAC), administrator
of the Nevada Hardest Hit Fund®, has partnered
with the Nevada Housing Division to administer Hope
Brings You Home™ and make these funds available to
Nevadans who want to become Las Vegas Nevada Real Estate homeowners, but need
help with a down payment and/or closing costs. For
more information visit www.NAHAC.org
Purchase Price under
Income under $98,500
Debt Ratio 45% (FHA, VA
& USDA) / Debt Ratio 50%
(HFA Preferred Conv)
Minimum Credit Score 660
(FHA) / 640 All other loan
Eligible Zip Codes:
89011, 89030, 89031, 89032, 89048, 89060, 89081, 89101, 89102,
89103, 89104, 89106, 89107, 89108, 89109, 89110, 89115, 89118,
89119, 89120, 89121, 89122, 89128, 89142, 89146, 89156, 89169
Summary for Las Vegas Nevada Real Estate Readers:
DPA (Down Payment Assistance) equal to 10% of the
purchase price up to $20,000
for down payment and/or
Very attractive interest rate
3-year No Interest, No Payment
forgivable note. 1/36 forgiven
each month you live in the
Loan Types: FHA, VA, USDA and
HFA Preferred Conventional
Eligible Properties: Existing
including townhomes, condos
and manufactured homes. No
105% Maximum CLTV
Home prices in LV are still low! Median property asking prices are around $275,000, but they go much lower in many areas, this is just an average. The average was $120,200 in 1996
The average days on the market right now are about 66.
This may change your thoughts on thinking this is a repo or bank owned dominant market anymore!
Find Homes For Sale!|
FREE MLS Search
This will be the "Year of the demise of the Short Sale"
Do you want to just sell your home for fast cash? Visit We Buy Houses Nevada
or contact Me Confidentially
for a FREE consultation.
You can talk to me via email about your situation, I can cash you out of your house in about 14 days or less
. PS: if you do a short sale, YOU DO NOT HAVE to PAY an attorney out of pocket, I handle them for FREE, the bank pays the commission and the fees.
The bank pays the Realtor to handle the transaction for you. Please visit our Short Sale Page
for FREE information and how to Contact me
LV REAL ESTATE BLOG
Make sure you check out our LAS VEGAS NEVADA REAL ESTATE BLOG
and feel free to contribute. Get tips and info
on Mortgages, other peoples experiences, suggestions and more.
Please feel free to Contact me
if you need further guidance.
FREE relocation Guide
Download Las Vegas Relocation Guide Download it for FREE Now!
FHA LOAN INFORMATION 2014
The current up front mortgage insurance premium UPMIP is 1.75%. Say you have a $100,000 loan amount. The new monthly mortgage insurance premium would now be 1.75% of $100,000 divided by 12 months = $145.84 per month.
Furthermore, effective June 3, 2013, all monthly mortgage premiums will now continue for the LIFE of the loan on a minimum down FHA loan
If somebody was putting the minimal down-payment of 3.5% on a 30 year loan, they would pay that mortgage insurance mentioned in the first paragraph for the life of the loan or 30 years.
That’s not good. Before, after paying down your mortgage for 5 years and you have reached 78% LTV, then this mortgage insurance is cancelled i.e. you don’t have to pay them anymore. Now if you have a 30 year loan, you would be paying it for 30 years
Additionally, effective April 1, 2013, FHA will now require borrowers with Fico’s less than 620
and debt to income ratios exceeding 43% to be manually underwritten. Manually underwriting a loan is actually 50-50 chance of getting approved as opposed to automated underwriting.
If you can switch to conventional loans try to if possible. Sometimes you have to go FHA because of a recent foreclosure or bankruptcy so you will not have a choice. Or maybe you are dealing with low credit scores and have to go FHA.
Perhaps you are looking
at a rental property
You have an opportunity to Learn about Las Vegas Nevada Real Estate while you live in the area and get a true sense of where you would like to be permanently
before buying. There are rental assistance websites
that can assist you with a rental property.
On this particular site, you can search properties and look at the featured or represented property management companies to find someone to represent you. You can also Contact me
for a referral or help.
One of the best things you can do is find a reputable, licensed Las Vegas real estate agent
. They can be your best resource to find the living situation that fits your desires or needs
. They have listings of homes
, builders, and rental properties. Do you need security deposit assistance, please visit NV Rental Deposit Program
They also work with corporations to find adequate housing for a short time or on a long-term basis
. You might also need help with affordable storage solutions.
Some companies may feature properties in the Summerlin district, Downtown Las Vegas, or the world famous Las Vegas Strip. Looking for real estate advice? Find the best experts in your area with unbiased reviews at Angie’s List
Maybe you would like to have a home built. There are many benefits to having a custom built home
and there are many builders that offer a variety of styles and price ranges; some may even offer direct financing. I have some connections if you want to email me
Okay, you have decided that you are going to bite the bullet and buy a new home
. Las Vegas does not have a shortage of those, either. A qualified real estate agent will be able to pair you up with the home that fits
The first step is to get prequalified
with a reputable Las Vegas lending institution. Your trusted real estate agent
will be able to assist you in finding one. Also, don't forget to look into the recently foreclosed properties
, you may just find your dream home at a discount price!
FREE Las Vegas Nevada Real Estate Short Sale Help
Do you need help with a short sale? Doing a short sale with me is FREE, the bank or leinholder pays for your agent to represent you. Get a FREE, NO Pressure! consultation from me
There are many options when it comes to Las Vegas Nevada real estate. It can be overwhelming, but if you do some research and have a good team
, behind you, then you can ease some of that stress and just enjoy living in one of the most exciting metropolitan cities
the United States has to offer.
Las Vegas Nevada Real Estate Investors have so many alternative avenues
to invest in real estate whether it is property buying and selling, or real estate note buying and selling
or even participating in a pool of investors that work together for the greater good.
Feel free to Contact me
anytime for questions about these great avenues.
More helpful info
Some Down Payment assistance programs that are currently being offered for Las Vegas Nevada Real Estate are:
- The City of Henderson This page will lead you to the informational pages of The City of Henderson Neighborhood Services First time homebuyer program. For qualified borrowers, they offer up to $10,000 deferred interest down payment assistance.
- The State of Nevada This is the HUD.gov page for Nevada homeowner assistance programs. Habitat for Humanity, housing counseling, State of Nevada First Time buyer program and many more.
- Nevada Rural Housing Authority
This Authority is involved in the Home at Last program which offers many options for buyers and areas that qualify. There is down payment assistance, special tax credits and many more great programs.
- CCCS and The City Of North Las Vegas also has a down payment assistance program. Visit here to give them a call.
- Neighborhood Housing Services of Southern Nevada From charity fundraising to affordable housing, this place has a lot of heart. They also offer homebuyer education and down payment assistance programs as well as the Back to Work program in which employers can assist with the buyers down payment. You can also learn about Home Again the Nevada homeowners relief program on this website.
Other organizations are out there to help also such as Consumer Credit Counseling Service. www.CCCSNEVADA.org
. Most down payment contributions require a Home buyer education Class to purchase Las Vegas Nevada Real Estate.
Managing your money effectively
Discriminatory housing laws
what it is and how to protect yourself
The home shopping process
Making an offer on a house
The customary closing costs
Consumer Protection factors
settling in to your new home
Protecting your investment
Even if you are NOT a first time homebuyer, many FHA loans can be obtained with as little as 3.5% down payment
to purchase Las Vegas Nevada Real Estate.
The maximum house loan you can get with FHA is $417,000, but this buys a mass selection of Vegas Homes and North Las Vegas
or Henderson Nevada
I would like to encourage you if you are looking to buy a home, take advantage of the incredible home prices and low interest rates that are out there right now!
You can also look at Las Vegas HUD homes
, for owner occupant purchasers, they are currently offering $100 down payment and a $1000 closing contribution for full price offers. You must use a HUD registered Nevada real estate agent to put in an offer, such as Elizabeth K Hammack, GRI
, the owner of this site!
Your experienced HUD registered Las Vegas Realtor, can help you pre-qualify with a HUD certified mortgage provider
and help you prepare all paperwork necessary to submit an offer, your HUD certified agent also has a HUD key to show you HUD homes upon request.
Most of the Las Vegas real estate for sale is going to be bank owned, REO's are the common name, the reason for this is predatory lending that caused so many people to lose their homes.
Then even if they tried to sell it, they either did not have enough equity
to get out of it due to the major artificial inflation that took place in our Las Vegas Nevada Real Estate Market or they were somehow related to the real estate industry ... either a real estate agent, lender or even worked at a bank that closed down.
It is a very sad time in history, but the important thing to remember is if we want to raise our economy and property values
, we have to stay active in our spending.
I dont mean go out and buy things, I mean if you have a stable job and the income to buy a home, go buy it, there are some great deals to be had right now
in a Las Vegas Real Estate purchase!
Sellers are now experiencing multiple offers
. Even the short sale properties.
If you are not behind in payments, but help with an adjustable rate loan that is coming due, please contact me Elizabeth K Hammack, GRI
or visit HUDS page for information on all of the Help For Homeowners Programs
, this program can also help you when you are behind in payments on Las Vegas Nevada Real Estate, and do not want to sell your home. The Hope for Homeowners program
was designed to help homeowners stay in their homes.
If you want to try to sell your home and you are behind in payments, you might be able to negotiate a short sale
which is a deal that your bank makes to take less than what is owed on the mortgage. Please contact your Realtor
regarding Las Vegas Nevada Real Estate for these issues or see information pages regarding these issues on this website before proceeding with a short sale, etc
How many weeks can I go on about buying rehabs? The number one rule is you must buy right
. If you pay too much you are stuck and this market is volatile, I am not trying to scare you, but be smart and cautious.
Rehab property is tough to break into in Las Vegas Nevada Real Estate, because if you are an investor, you will have trouble getting a loan with less than 25% down and then if the condition is too bad, they won't loan on it so you need cash or hard money.
Another option is to try for a Homepath Home
can cost you 5 points (5% of the loan amount) at close plus anywhere from 10% to 14% interest usually paid in monthly payments of interest only.
These loans are usually short term like 6 months to a year maximum or you must refinance.
Thank you for visiting us at Las Vegas Nevada Real Estate
Helpful Links and references for Las Vegas Nevada Real Estate and Some Outside References:
- We Buy Houses Nevada - Get help evicting a squatter, eviction help, bad tenant, selling an inherited home, sell a house as is, sell your house in 7 days, get a quick cash offer.
- Sell My Note Did you carry the financing on a property, do you own a mortgage note, cash out in 20 days.
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