Jeri, if you were my sister or mother...I would insist you live in 7 Hills Anthem in Henderson...south of Las Vegas. If you want to know why, feel free to call or write. We've lived in Vegas for the last 35 years...we know every sq. inch of Vegas. Thanks, Kim and Matt LasVegasMatt@gmail.com... more
89103 is very close to the airport. It is separated by the 15 freeway so within a few miles.
Feel free to call/email if I can assist you any further.
Foundation Realty, LLC
Most likely if all parties have good credit you can all apply and be party to the same mortgage. If this is not a main residence it may be considered a 2nd home, but only if it is not being used for rental property. (you can't have your cake and eat it to) There are bank fraud laws that you would want to consider if you are not honest on the use of the property when going to closing. There are also tax laws to be considered if you are not honest about the use of the house when claiming the property.
most income property requires a minimum of 20% down.
I have a lender that I recommend to my friends and family around the united states (she works in multiple states) Give her a call to see what your options are - if she does not work your area she will guide you to someone that does.
757 405 1102 x1102
Best of Luck!... more
Quick and dirty answer? You'll need to bring it up to at least 640 to qualify for a mortgage loan in today's lending climate - HOWEVER, this is just a standard answer to a rather complicated question. Your credit score is just ONE of the many factors lenders look at to determine your credit worthiness. You could have mitigating circumstances that would enable a lender to approve a mortgage loan for you. All that to say, every circumstance is unique - call a lender and get the process started!... more
Mortgage laws will change effective January 10th 2014 and I do not beleive you're going to have any luck finding a reasonable no income verification loan. While the traditional banks may not work with you based on what you've written if you've got any access to a Credit Union, I would go and talk with them, they don't sell their loans on the secondary market as all the major banks do and so given your credit and available assets may be willing to work with you.... more
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Mortgage & Insurance Specialist
They probably will. A few private lenders are still offering "no income check" mortgages, but for the banks they are a thing of the past. Even with 50% down they will want to see that you have the ability to repay the loan.... more
(I like your name!)
Do you have a good loan officer that you trust? This is really a lender question. I am a real estate professional, but I have a great team with preferred lenders that I work with; so I would be happy to refer one to you. A lender will take a look at your ratios. Your ratios are what you owe, versus what you receive in income. This is an important figure. The more you pay down debt, the more your credit score goes back up. It is also a good idea to keep your credit card balances below 50% of your credit line. Again, a lender can give you a plan of action for boosting your score. There are also companies that are soliciting helping you to boost your score for a fee, and some kind of coaching. I don't have any experience with these companies, but I would be very cautious about it. I suggest speaking with a lender first!
Good luck! Diane 702.401.0307... more
Depends on a lot of terms that could have or not have been written in your contract. So the question should be conveyed to your agent.
I would say nothing is solid until you have it in writting, anything can happen. Being a weekend, I doubt you'll get anything in writing over the weekend. Many scenarios would have you open escrow with the title company followed by a home inspection period. Your loan officer will probably order the appraisal after escrow is opened. You could shop around for some homeowners insurance quotes while you wait for written approval. I'd start with my own auto insurance carrier first.
Good Luck.... more
While agents have a fiduciary duty to their clients, as Coldwell mentions, we cannot steer you to or from any neighborhoods. After all, it really is a matter of opinion, the old "You say tomAto, I say tomato."
A perfect example is the recent public debate over some statements made on Craig Ferguson's show by Mindy Kaling about a Las Vegas neighborhood. Many locals are upset by her comments and relate it's nearby historic district and mid century modern homes.
“We went to this frozen custard place in I believe the most dangerous and sketchy neighborhood I’ve ever been to in my entire life,” Kaling said.
Who is right? Mindy with her short visit or the people who live and work in that area? You can easily see there are opinions both for and against, but which applies to you is totally up to you. Particularly as an investor, you really shouldn't want to make your decisions based on hearsay, but on what offers you the best potential return on the amount of your investment.
A good REALTOR® (being one, I'm also required to type it that way :) ), can provide you with resources to make your own determinations.
Here in the Las Vegas valley their are online crime statistics available from the valley's 3 patrol areas of Metro, Henderson, and now North Las Vegas. Real estate statistics can be provided from GLVAR, and any number of independent sources on other variables such as schools and other facilities. Armed with that information you can make your own best decisions without being influenced in any way by an agent's personal opinion, taste, or other interests.
Hope that helps, and any other questions just get in touch.