I am a California resident and am interested in purchasing second home in Nevada; single family or condo. Do I get loan through CA or NV bank?

Asked by a.ebuhardt, Las Vegas, NV Tue Mar 12, 2013

Have 30% down payment

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Mark Fleysher, Agent, Las Vegas, NV
Fri Apr 4, 2014
It's recommended to pre-qualify and interview with multiple lenders. My recommendation is to reach out to your current primary bank, and to a local lender.

Here's my recommended local lender:

Ben Comia, Nova Home Loans, c. 702-856-6113, or apply online: HomeLoansforVegas.com

2 votes
Robert Adams, Agent, Henderson, NV
Fri May 17, 2013
You can use either but I would recommend a local lender as they will be more in tune with the local trends and hurdles you may encounter in the local market. If you need a good Vegas lender please email me. I will respond with the 2 lenders contact info that we work with.

Best Regards,
Robert Adams
The Adams Team at
Rothwell Gornt Companies
1 vote
Johnny James, Agent, Carson, CA
Mon Jul 29, 2013
You have to use a lender that is licensed to do business in NV.
0 votes
Mary Browne, Home Buyer, G.L. Lowery Industrial Park, Groveport, OH
Sat Jul 13, 2013
You can use either depends which you are comfortable with however it is a little better to use where you are purchasing the home , you can get prequalified with your own bank and then brine those documents with you as sometimes the bank owned have a specific lender they wish for you to use.
0 votes
Mary Browne, Home Buyer, G.L. Lowery Industrial Park, Groveport, OH
Sat Jul 13, 2013
you can use either however it is better to use one that is where your home is being purchased
0 votes
David Cooper, Agent, Los Angeles, CA
Wed Mar 13, 2013
n my 35 years experience, to get a stressful free transaction and quick close, I would get a las vegas lender that has an established realtionship with you Las Vegas real estate agent. There is lots of last minute paperwork that always catches everyone off guard, and local people have the experience to deal with these situations.

If you want to get a foreclosure investment deal, check my information
David Cooper
0 votes
Matthew D'Er…, Agent, Las Vegas, NV
Tue Mar 12, 2013
My wife and I suggest you get your loan here from one of our top lenders who are respected and can close your loan in 30 days or less. This is important for a smooth transaction. Were in a very competitive market now and every advantage we can create for you will help get your offer accepted by seller. Please call me any time after 8am and well get you all set up with a loan approval and custom property search. We've been in Vegas since 1976 and we have helped hundreds of clients. Please call, Matt and Kim- 702.501.0973
0 votes
Randy Bridges, Agent, Las Vegas, NV
Tue Mar 12, 2013
Any lender as long as they are licensed in Nevada.
0 votes
Suzie Marqua…, Agent, Las Vegas, NV
Tue Mar 12, 2013
You can get a loan either in California or Nevada as long as the loan officer in California is licensed to originate loans in Nevada. I have a great lender that I would highly recommend. I have worked with for many years. She is good! Contact me and I will relay her contact information to you. I can set up a personal property search page for you If you like. All I need is your criteria.Then you can a feel for what is available in Las Vegas. I am always available to help in anyway I can.
Suzie Marquardt
0 votes
Kurt Grosse, Agent, Las Vegas, NV
Tue Mar 12, 2013
I can appreciate that other agents have answered your question. The problem with that is that they didn't help you one bit. There is a housing shortage right now in Nevada. What this means to you is a couple of things. First of all, every house will have multiple offers. Second of all, cash is king 99% of the time.
There has to be strategies right now to get a house. As primarily a listing agent, my clients get first shot at my listings. We leave money as a negotiating tool.
Will you stick around throughout the entire short sale process if you're getting a loan?
Are you willing to pay the difference between an appraised value and a selling price to get the house?
Then there's the issue of most condos not being on the approved complex list. The reason for this is that usually over 10% of the complex is in default on their association fees. If the complex is not on the list, you probably won't find ANY lender to finance it.
When financing with an out of state lender, they have to be Nevada certified and be aware that it will take possibly a week longer to close. Where this is problematic is when bank approval wants a 14 to 21 day close after approval.
If I were in your position, I'd find a listing agent to get in tight with and I'd take a line of credit out on my house which means you'd be a cash buyer.
Thinking smarter and planning ahead is the way to get a house in this ever-changing market.
Give me a call and let's strategize!
0 votes
Myra Gouger, Agent, Las Vegas, NV
Tue Mar 12, 2013
You can get a loan anywhere. The important thing you have to ask is if the loan person and the company are licensed in NV. If they are not, you need to choose someone who is in order to be able to get a loan in NV. FYI: most condos are not mortgageable in Las Vegas as many of them have litigation against them.
0 votes
James Diona, , Las Vegas, NV
Tue Mar 12, 2013
It is your decission. I can refer you to a top lender here in Vegas or you can go to your bank. Either way, I would love to represent you as your Buyer's Agent. I have the perfect second home for you. The Address is 6624 Pine Siskin Place. It is located in a beautiful, newer Masterplanned Community called Aliante. Look it up on Trulia.
0 votes
Denny Hebibo…, Agent, Las Vegas, NV
Tue Mar 12, 2013
Hi a.ebuhardt,

well, the majority of out of state buyers are getting loan thru lv elocal bank/mortgage brokers,
based on my experience I have with my buyers, however a min of 25 % down payment is required, for condos, if financable min 30%, homepath properties 10%.
I can assist you to help you thru some our local lenders that I work with to assist you in home financing...
Also, I'd be glad to email you property listings that are currently available on the LV market based on your criterias/wishes and to help you, find you the right property!
Just provide me your email address so I can forward those listings directly to you, asap, so you know
what's really available for sale.
Below is my direct contact info;

Warmest regards,

CELL: 702-241-6110
EMAIL: Denny@PropertiesofLasVegas.com
WEB: http://www.PropertiesofLasVegas.com
WEB: http://www.IMMOBEL.com/LasVegasNevadaUSA/
WEB: http://awp208099.las.mlxchange.com
0 votes
A. Ron Evang…, Agent, Las Vegas, NV
Tue Mar 12, 2013
Hi there: You can get your loan from wherever you qualify but if you are starting that process from scratch, I recommend you talk with nevada lenders. There may be some nuances that pertain to Nevada that you want your lender to be aware of. I work with 3-4 great lenders in Las Vegas & would be happy to share their contact data with you.
0 votes
Mike Kruse, Agent, Las Vegas, NV
Tue Mar 12, 2013
As Ron stated, most lenders will work in multiple states. I am an experienced Realtor and have lived in the Las Vegas area since 1992 so my knowledge and guidance will be an asset in your purchase.

Mike Kruse
VIP Realty Group
Web Reference:  http://lvhomesbymike.com
0 votes
Chris Harris…, Agent, Henderson, NV
Tue Mar 12, 2013
I would get a loan with the mortgage company or loan officer you feel comfortable with. It does not matter if the lender is in CA or NV as long as you have completed your loan application and are pre-approved for your loan.

If you like you can contact one of preferred lenders. His name is Kevin Helm with Guild Mortgage Co.
His telephone number is 702.219.9078 and his email khelm@guildmortgage.net Feel free to contact him and he will lead you in the right direction.

Best regards,

Chris O. Harrison
Barrett & Co. Realty
702.592.9510 Mobile
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Mar 12, 2013
You will find that the majority of Lenders are licensed to operate in most, if not all 50 states.
You also may experience that many Lenders will eventually sell your Loan to another company.
Some Banks sell everything, keeping nothing, while other will sell none, keeping everything.
The important ingredient, therefore, would be the Agent that you deal with.
Keep these things in mind when you make you decisions.
0 votes
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