Home Buying in 89103>Question Details

Lulucas, Home Buyer in 89103

I am looking to relocate & buy in las vegas nv. Is it true you have to live there for 1 year before being able to purchase a home ?

Asked by Lulucas, 89103 Sat Mar 3, 2012

I was told you have to live in las vegas for 1 year if you plan to buy a home there. I am 1st time homebuyer with good/great credit & this would be a primary residence

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Answers

25
Hello Lulucas,
I hope this email finds you well. In regards to your question, I do have some questions....

1) Are you going to work for the same employer?
2) Will it be the same line of work?

If this is a new employer we'll have to verify your employment with a current paystub which will confirm employment in Las Vegas, NV .

If your new employment in Las Vegas will be self employed or sales then we will need 2 yrs of employment to establish your business or sales position. Unless, you are transferring a sales position from another state to Las Vegas then we can use all income.

Do not hesitate to email/call should you have questions.

Regards,
Barbara Castro
WJ Bradley Mortgage
(702) 281-0122
email: barbara.castro@wjbradley.com
2 votes Thank Flag Link Tue Mar 6, 2012
Rick,
This thread is almost a year old hopefully she found a lender and got her questions answered by now.

Best regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
702-349-9175 cel
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Mon Sep 2, 2013
Just about anyone can buy a home in Las Vegas, there are no residency requirements. We are a vacation destination and have many domestic and foreign investors who purchase homes and investment properties here all the time.
0 votes Thank Flag Link Mon Sep 2, 2013
Giovanni this thread is almost a year old hopefully she found a lender and got her questions answered by now.

Best regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
702-349-9175 cel
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Thu Jan 24, 2013
You won't get the best rate on a Owner-Occupied Loan if you can'y show a local paystub.



DON'T MISS FREE LIST HUD PROPERTIES + GOVERNMENT FORECLOSURES at SUBSTANTIAL DISCOUNTS
See Web
0 votes Thank Flag Link Sun Mar 11, 2012
As of this morning there were only 8143 SFH, condo, and/or townhome listings available on the ML in "ER" (available for sale) status. this number has been steadily decreasing month after month for over 8 months.

Also, demand has been growing month after month as the number of homes in escrow vs the number of homes availble has been growing percentage wise month after month.

Anytime in the next year is an awesome time to buy in Las vegas or Henderson.
0 votes Thank Flag Link Sun Mar 11, 2012
There is only 1 loan that I know of that requires you to be here for a year, and that is a very specific loan . If that is the type of loan that you are trying to obtain then you where told correctly. However the rest of the loans do not have the same restrictions and I would be happy to talk with you.
0 votes Thank Flag Link Thu Mar 8, 2012
Lulucas, I am sorry you were told wrong. The only thing that may slow you down is employment on a loan. What was the reason you were told for the delay? I'd be happy to help all I can and to direct you to my preferred lenders as well. I look forward to hearing from you and working with you on this great venture.

Robin Fraser
Realtor. Broker-Sales
Epro SFR, CDPE, CIAS
Keller Williams Realty, The Market Place 1
1333 N. Buffalo Dr. #270
Las Vegas, NV 89128
Email FraserProperties@aol.com
http://FraserPropertiesLV.com
0 votes Thank Flag Link Wed Mar 7, 2012
Las Vegas Prices are showing a big uptick and invesntory levels are dropping. Selection of nice 3+2 under $100,000 is going to end. Don't Wait. check out the HUD properties and Government Foreclosure List

DAVID COOPER
0 votes Thank Flag Link Wed Mar 7, 2012
No, if you can show proof of funds or qualify for a loan you can buy a house immediately. They're are investors from all over the world buying up properties in Las Vegas without living here at all. When do you plan on moving and how soon would you like to start looking at properties? I would be more than happy to assist you in finding a home.

Graham Irving
Province Real Estate
702-491-0709
0 votes Thank Flag Link Wed Mar 7, 2012
You will have to show a source of income and a local paystub will get you primary residence status.

DON'T MISS FREE LIST HUD PROPERTIES + GOVERNMENT FORECLOSURE DISCOUNT. SEE WEB
0 votes Thank Flag Link Tue Mar 6, 2012
Hi Lulucas

It depends on your situation, income, FICO score
and other factors, I recommend that you contact
Barbara Castro-Estes, Sr Loan Consultant @
WJ Bradley Mortgage, PH:(702)281-0122 or
email:Barbara.Castro@Wjbradley.com

Please contact me if I can assist with any other questions

Thanks
Jimmy Balsano
Realty One Group
702-281-2225
Fax 1-866-371-8421
jimbalsao@cox.net
I KNOW LAS VEGAS AND HAVE FOR 40 YEARS

http://www.rapidsellers.com/jbalsano
http://jimmybalsano.las.mlxchange.com
0 votes Thank Flag Link Tue Mar 6, 2012
If you can qualify for your financing then you can buy a home immediately. If you have some type of income, or credit issues that you need to increase or fix then yes you may need to wait. But in that case you would be waiting due to credit or income not because you are new to town. I have a few lenders that you can speak to if you would like to see what your financing options are. Please email me and I will reply with their contact info. I hope this helps.

Best Regards,
Robert Adams
Broker/Salesman
LVrealestateHELP Team at
Rothwell Gornt Companies
702-349-9175 Cell
crehadams@gmail.com
0 votes Thank Flag Link Mon Mar 5, 2012
Your question was simple and the straight forward answer is NO, you do not have to wait. Great question! Thank you for informing yourself, a knowledgeable buyer is a great buyer to work with! If you have more questions, please, please ask!! Check out my website, no commitment, just a free search on the MLS.
Raina Musser
raina.musser@gmail.com
702-232-1287
0 votes Thank Flag Link Sun Mar 4, 2012
I wouldn't be able to say Yes or No unless I know your FICO score and if you can actually show a paystub from Las Vegas employment. ???


FREE LIST HUD PROPERTIES AND GOVERNMENT FORECLOSURE HOMES FOR SALE. GO TO WEB
0 votes Thank Flag Link Sat Mar 3, 2012
The only thing that matters is you're being able to qualify for a loan or not if you are paying cash. If loan, then will this be your primary residence or do you own a home where you're coming from? My wife and I specialize in relocation for private and corporations. We have helped hundreds of people purchase and rent homes in Las Vegas since 1980. Please call us any time and we can help you with many matters pertaining to your move no matter how small. Feel free to use our web site to search homes for sale and please email or call so we can design a custom search for you which will email you all homes that match your criteria. Thanks, Matt

Matthew and Kim D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Sat Mar 3, 2012
Absolutely NOT true!! Great question, enjoy the answer! And "Thank you" for posting. Please call me and i would love to send you some listings that fit the criteria you are looking for or help you in finding your criteria if you are not quite sure what it is yet!!
Raina Musser
raina.musser@gmail.com
702-232-1287
0 votes Thank Flag Link Sat Mar 3, 2012
That is not accurate... You can purchase the property as a primary residence when financing with one paycheck stub in hand. Your lender will look at the line of work you are in prior to your move and after your move, for that you will need 12 months in the same line of work.
I am happy to discuss this further if you have more questions.
Good Luck!!
Mary Preheim
702-403-3452
marypreheim@realtyexecutives.com
0 votes Thank Flag Link Sat Mar 3, 2012
You will need to show a local paystub to qualify for the lowest down and the best interest rate. It is a good suggestion to get "your feet wet" before committing to a home purchase. Rental houses are very affordable and there is a great selection




FREE LIST OF HUD PROPERTIES + GOVERNMENT FORECLOSURES. SEE WEB BELOW
0 votes Thank Flag Link Sat Mar 3, 2012
Not at all! In fact, someone in your situation can take advantage of great programs like FHA mortgages (only 3.5% down) and interest rates near record lows right now.

Perhaps somebody recommended that you learn your way around town before settling on where you want to live?
0 votes Thank Flag Link Sat Mar 3, 2012
Hi, You can buy at any time if you have the right circumstances. The real question is if you are financing what are the lenders guildlines that pertain to your situation. If you would like to find out exactly when and how much you can buy here in Las Vegas give me a call and I can help you.
0 votes Thank Flag Link Sat Mar 3, 2012
You can buy a home here or anywhere at any time. I believe that what you are referring to is the down payment. If you just come in here and have no job established and no address in Las Vegas, the banks looks upon you as an investor. You would, therefore, need to put down 20%. If, on the other hand, you are transferred and can show a letter of transfer, then you can get a regular loan w/o having to put so much down.
0 votes Thank Flag Link Sat Mar 3, 2012
Am not sure who gave you that information. If you can qualify for a loan, been employed on your job or at least the same line of work for a year and more if you are new in the area, have the required number of trade lines if you are financing a loan, have been released of bankcruptcy or foreclosure if any, etc.
Best thing to do is talk to a mortgage company to find out for sure if there are any other issues that need to be straightened out before you purchase a home and I'll be glad to help get you hooked up with one if you don't know of anybody. Email me or give me a call.

Myrna Chavez
Prudential Americana Group, REALTORS
(702) 727-9640
0 votes Thank Flag Link Sat Mar 3, 2012
No. Call one of our local lenders in Las Vegas to find out what loan programs and the amount you're qualified for. Let me know if I can be of any assistance in the future.


Sincerely,
Bill Vogel

Better Homes & Gardens, Desert Properties
2225 Village Walk Dr., Suite 260
Henderson, NV 89052

Direct: (702) 321-1129
Fax: (702) 454-5040
billvogelnvre@gmail.com
http://www.billvogelnvre.com
0 votes Thank Flag Link Sat Mar 3, 2012
No that is not true at all. You are able to buy in Las Vegas as soon as you move here. Give me a call or email me and ill be glad to help you.

Goran Krkic
The Landrove Team / Lead Buyers Agent
Keller Williams Realty Southern Nevada
2900 Horizon Ridge Parkway #101
Henderson, NV 89052
702-501-5231
goranrealtor@gmail.com
0 votes Thank Flag Link Sat Mar 3, 2012
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