David Cooper Las Vegas Foreclosure Investor in Bank Owned REOs with Cash Flow. email or call for FREE
daily list. +1-7024997037 not a real estate agent
Would need more information to determine if you quaify to purchase the home as a second home based on your debt to income ratio and available assets. To make it a primary, you would need to show that in fact you are moving here and intend to occup the home as your primary residence. Contact me if you would like to discuss further.
Couple of important enities you should be consulting with. Your CPA and your favorite Lender. You don't want to get into a situation that is going to be a burden to you.. Too many homeowners and investors have made that mistake in our Las Vegas housing market. I'm not trying to discourage you, I just have seen so many people over spend on housing, I don't want you to become one of them.
Simply Reply to me @ 702.321.9383
3042 S. Durango
Las Vegas, NV 89117
David Cooper Las Vegas Foreclosure Investor in Bank Owned REOs with cash flow. email or call for FREE daily list +1-7024997037 not a real estate agent
First step....consult with a lender. Below is a knowledgeable, reputable and seasond lender. Consultation is with no charge or obligation....
Aaron M. Gordon--VP, Home Loan Manager--Senior Mortgage Loan Officer
Platinum Club - Bank of America Top 5% in Nation
Bank of America Home Loans
8359 West Sunset Road #130, Las Vegas, NV 89113
Office Phone: 702-697-8300
Cell Phone: 702-283-2333
Extra Info: http://lvrealestatelady.com/Pre-Approval.html
Please feel free to contact me at anytime and I shall be happy to get for you your second home....
Thanks and have a great day!
Julia St. Marie, Prof. Corp. RRG, ABR, RSPS
A Trusted Buyer Agent for Las Vegas Real Estate - If you need something specific, please let me know
No Realtor Inquires Please
Certified REO Specialist
Realty ONE Group
702-355-H-O-M-E (4663) direct
No Costs-No Obligation.....
Be one of the first to know....."Instant Email Notification" of Foreclosed properties -- http://lvrealestatelady.com/Foreclosure_Notification.html
Look at MLS Inventoryâ€”Easy-- http://search.lvrealestatelady.las.mlxchange.com/
Give me a call if you would like to discuss your situation further.
Melanie Dages NMLS #327096
Castle & Cooke Mortgage, LLC
6900 Westcliff Drive 8th Floor
Las Vegas, NV 89145
1) You already have a 400K mortgage you are responsible for.
2) Your income is 34K + 14K = 48K
3) A 30 year payment on 400K @ 4.32% = $1984.19 making your debt to income ratio 49.6% (DTI) before you even add taxes, insurance or any other obligations you may have.
4) When you add taxes and insurance to your current mortgage you at around 63% DTI.
5) The max DTI for qualification will be 50%.
6) You will need 6 months of liquid reserves for each property, That means 6 months or principal, interest, tax and insurance payments (PITI)
7) If you convert your current home to a rental, you "may" be able to count a portion of the $1600 as rental income with a signed lease agreement and assuming you have 25% equity, but it will still not cover your current mortgage obligation.
I am not trying to be negative, just giving you a complete picture of the factors involved. You should speak with a licensed loan officer and have them review the complete picture.
If you would consider a Manufacturer home, we likely be able to help you.
I have included my Web site and Sunrise Mobile Home Community site at the bottom of this letter.
These homes are Park financed. Most of the homes we have listed are in Sunrise Mobile Home Community. This is a â€œvery well kept" 12 year old Family Park with Desert Landscaping and Modern Conveniences. This community is 6 miles East of the Las Vegas Strip and is very close to the Boulder Highway Strip. We are a Gated community with transportation service at the gate.
Most of our homes are in the 1998 to 2005 age range. They are double wide and have been brought back to as "near as new" condition as possible. New paint inside and out. New carpet and vinyl and window blinds throughout. They all come with reconditioned Range, Refrigerator and Dishwasher where applicable . All of the homes come with Central Air Conditioning. Many of them come with an additional storage shed. There is also a covered 2 car carport. Most have fenced yards.
We have 2 bedroom 2 bath homes starting at $19,900 to $29,900. Our 3 bedroom 2 bath homes that we have listed at this time are from $29,900 to 45,900.
The financing is as follows: $2500 down, which includes the $1000 Earnest Money. There is also Closing Cost. It is a 20 year loan at 7% interest. Your 1st month Mortgage and Space Rent would be FREE. Your monthly cost this could be between $712 and $982 depending on the home price.
I hope this information is helpful and that I will be able help finding your new home.
Doreen Mulcahey, Mobile Home Sales Specialist
Manager, Sunrise Mobile Home Community
Allied Home MOrtgage Corp
866-822-8282 toll free
You should talk to a lender here in Las Vegas if you wish to purchase here.
Call or shoot me an email and I can give you a list of local contacts that you can speak with.
John J. Longeway
Keller Williams So. Nevada
Please, contact a mortgage specialist directly, and they will best be able to accurately answer this question.
Anthony Tuason, Mortgage Loan Officer
Nevada Federal Credit Union
Phone (702) 948-5498