First off, they must disclose any relationship between an agent and loan officer if they are one in the same. You can make a try to speak to the managing broker, who may have to go to the banking commission or state re commission. Check with another local and trusted loan officer for an estimate on your mortgage. For legal advice, check with a lawyer who can assist... more
Rates are still really good so I'd say now is the time to buy. Nobody can predict the future so strike while the iron is hot. I say go for it. Try contacting Home Loans For All. They've been excellent with market trends and analysis. I'll include a link to their website.
Interest rates and the cost of financing are based on the lender's risk. The higher the risk to the lender, the higher the cost to the borrower. Wait until your scores are around 640 before you try to buy a home.
Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.
Mountains Edge just completed a wonderful new park filled with everything a kid could want and an adult can admire peacefully on a long walk. It is safe and is fast becoming one of the most desirable areas to live in Las Vegas, Here are some statistics that I think might help you out.
Mountains Edge Overview
Total Listings9552 Median Price$249,639
Average Home Average Price$388,970 Average Bathrooms2.80
Average Bedrooms3 Average Price by Bedrooms
If you need anything let me know Randy Reinsch Berkshire Hathaway 7023551996 | www.nevadarealestatenetwork.com... more
Well then maybe you shouldn't be asking other people to finance your home purchase and wait until you save your own money? The reason for the verification is that it is illegal to 'launder' money in the United States, and one way to launder money is to use 'ill gotten funds' to make legitimate purchases such as real estate. You don't get to rob a bank put the money in someone else's account and the 'borrow' it to by a house--and you also are not allowed to 'borrow' a down payment, it must be a gift that does not need to be repaid, if the people claiming to 'give' you money don't really have a lot of money to give away, then the bank would suspect that you are actually borrowing it and that would increase your debt-to-loan ratio. If you don't like the rules of borrowing someone else's money(as in the banks), then don't ask them for money.... more
Many cities, counties and states have programs for first time homebuyers. Here in Las Vegas, NV there are grants that will pay 3-5% of the purchase price if you have not purchased a home in the past three years. Contact your local mortgage professional.
In short, yes! You can purchase a home with no money down. However, unless you are a veteran eligable to use a VA loan, it's not going to be as easy as it sounds. There are loan programs available that will cover your down payment BUT in return, you pay a higher interest rate. Also, no money down is very different from no money. No money down would refer to a down payment but keep in mind there will still be an inspeciton to pay for, an appraisal to pay for, and closing costs to cover. (Usually about 2% of the purchase price) If you have additional questions, please email me at 702LVRE@Gmail.com and I will forward your question on to a lender friend of mine that seems to know everything there is to know about home loans. Thank you.... more