I might be moving to Las Vegas from Canada and would like to purchase a 2 bdr/2 bath in a decent , safe area.

Asked by kimsrowe, Las Vegas, NV Wed Aug 22, 2012

Nothing really expensive as I don't know how long the job will last. I have seen quite a few condos in the $50-$65,000 range on the west side, NW, SW, etc.that would be great for us. I have been doing quite a bit of research into the areas but would like to know what the chances of a mortgage are for a non-US citizen. Does anyone know the minimum down payment required for non-US citizen and where I might look to find info on this? I have also seen owner financed properties, which seem interesting as well. I appreciate any help on this.

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Wendi Willia…, Agent, Las Vegas, NV
Wed Aug 22, 2012
Hi, kimsrowe.

We do about 2 of these a week. However, you MUST use very clever strategies to attain success. Our website is full of information that can help: http://ifindproperties2.fmgateway.com/canadians/canadian-fin…

Investment Financing:

As of 2/6/12 there is none available. Some clever Canadians have purchased homes as a 2nd home and then made them available for renting. HOWEVER, if you do this within 6 months of purchasing a second home, your lender could call the note. Be careful.

Second Home Financing:

You can get financing from nearly any Canadian lending institution. You should start with the lender who is carrying the note on your primary home...if you currently have one.

Either way...

(Before Arriving)

Do not move money into America before arriving! We have discovered that it's a major hassle for you to wire money from your US bank to a title company when you are physically in Canada. This doesn't sound intuitive but trust us, leave your money at home.

(When You Arrive)

While you are in the states, this is the best time to set up a bank account. You will need 2 forms of ID and usually about $50 in cash to open an account. If you have an LLC or LLP already set up with a "registered agent", we recommend that you use that address.

(During Escrow)

You will wire funds from your Canadian bank directly to the title company for your earnest money deposit and the balance of funds when you close. We do recommend that you set up an account with Intuit to enable you to send and receive money electronically (For Investments).

(After Escrow)

If you are using one of our recommended professionals to manage your LLC here in the states, money will be sent to you via Intuit. (If you will be living in the home, disregard this item.)

Reference: http://lvpropertysearch.com/category/las-vegas-financing

Thanks for inquiring...

LV Property Search
2 votes
Barbara Jeff…, Agent, Henderson, NV
Mon Nov 12, 2012
try finding what you are looking for here: http://www.Buying-Vegas.com to get started on your own search. Thanks!
0 votes
David Cooper, Agent, Los Angeles, CA
Sun Oct 14, 2012
Those 2+2 Condos at $65,000 was the price 6 months ago. Decent area 2+2 condos are going to up in price. Are you prepared to pay more for what you want?

David Cooper 702-499-7037

Check out todays deep discount Foreclosure List
0 votes
Michele Dutc…, Agent, Las Vegas, NV
Sun Oct 7, 2012

You should also check into new homes at Harmony Homes Bella Fiore & Tremezzo Communities in the Lake Las Vegas Master Plan. They are a little above your stated price range but are well worth the look. Starting at $298,990 plans go from 2307 sq ft thru 4615 sq ft. - both communities are gated with security patrol included.

Lake Las Vegas is a peaceful Master Plan Community only 15-20 minutes from the strip. You can check out the community specific websites at http://www.bellafiorellv.com and http://www.tremezzollv.com or contact me direct at 702-324-9281 or email Mdutchess@HarmonyHomes.com.

0 votes
Diane Diamond, , Las Vegas, NV
Thu Aug 23, 2012
I have a lender who will finance for non-citizens. I am not sure what the minimum down payment is right now, as many of the requirements change often. The bigger problem you may face is finding a condo that the banks will finance. Since our housing market crash, many condo complexes cannot be financed - either because of too many owner- occupied units, too many delinquent HOA dues, or construction defect litigations. We would have to check the list to first find a condo unit that would be financed. Would love to help you!

Warmest regards,

Diane Diamond
C; 702-289-5842
Prudential Americana Group, REALTORS
0 votes
Monk Boyer, Agent, Las Vegas, NV
Thu Aug 23, 2012
Good Morning.. I have a beautiful 2 br/den 1263 sqft condo, 1 car detached garage in the Red Bluffs gated community in the heart of Summerlin.. The # 1 master planned community in the US for the last 25 yrs .$99,999. If you'd like more info please call, text, or email me.

Thank you for your business,

Monk Boyer
Realty Executives of Nevada
1925 Village Center Cr. #150
Las Vegas, NV 89134
Cell 702-768-8444
0 votes
Lakeisha Bur…, , Las Vegas, NV
Wed Aug 22, 2012
There are many condo's available throughout Las Vegas. With the high forclosure rate a lot of the condo communities are not financing. You may have better selections with townhomes. Your price range is also high
demand for cash investors.
0 votes
Penny O'Brien, Agent, Las Vegas, NV
Wed Aug 22, 2012

There are so many wonderful areas to live here in Las Vegas, It seems you are very educated in our market.

One very important thing to keep in mind is that everyone wants well, not everyone but many buyers are out there looking for exactly what you want. Our inventory is low and with most transactions in that price range will be cash offers.

Not trying to discourage you, I'm just being totally upfront with you.
Penny O'Brien
Simply Vegas
3042 S. Durango Dr.
Las Vegas, NV 89117
0 votes
Denny Hebibo…, Agent, Las Vegas, NV
Wed Aug 22, 2012
Hi Kim,

if you're interested you can contact me directly and I'll be glad to assist you . .

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
Jeff Wallenf…, , Las Vegas, NV
Wed Aug 22, 2012
I do have a few people who can help Canadians get mortgages. If memory serves, the last time I asked they were talking about 20% down. Remember not to spend all your cash on the downpayment because you will have some closing costs, and you will surely want to make some repairs or renovations on your new home. Something you will want to keep in mind is that it's hard to finance a condo unless it's on the HUD list of FHA approved communities (I've attached a link).

Of the 20000+ properties that have sold through the MLS this year, only a few hundred were owner financed, lease-to-own, or some other alternative to cash/mortgage. Don't count on this sort of thing.

I know the NW and SW well and have helped condo buyers in both areas.

Hope you have a great day.
0 votes
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