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Financing in Nevada : Real Estate Advice

  • All108
  • Local Info6
  • Home Buying65
  • Home Selling17
  • Market Conditions1

Activity 262
Mon Jul 10, 2017
Kathy Burgreen answered:
Contact a local lender (use your bank since you're already a customer) and find out if you're allowed to use the equity in your home to reduce the PMI. From my experience as a realtor, you cannot use equity to reduce PMI which means you won't be able to refinance.

Your situation is a major reason why buyers should not buy homes unless they have at least 10% cash for a down payment. PMI is very expensive and a waste of money. However, too many buyers don't budget properly and spend money foolishly. Then when they want to buy a home, they're stuck paying PMI because they never saved for a down payment.
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Fri May 12, 2017
Channell Diann Lasiter asked:
When you buy in this park you own the land as well I want to buy the house. The underwriter may not approve the home, but what about the land?
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Tue May 9, 2017
answered:
Yes, the bank where I work can do HELOCs to 89.9% combined LTV on primary homes.
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Sat Apr 15, 2017
answered:
You should definitely speak to a CPA. Tax questions can be very complicated and while you may get some accurate advice through the internet, everyone's situation is different, and almost assuredly no one here is an expert on tax law. That said, you may find the article at https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Planning-and-Checklists/The-Gift-Tax/INF12036.html informative.

Shane Milne | Lending in all 50 states | NMLS #81195
shane@thebesthomeloans.com | 949-322-3616 direct
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Tue Feb 7, 2017
jumboloancenter answered:
Options up to 95% are available if the loan amount is below $999,000. 10% down options are available up to 2.5mil. See the web reference link below for more information.

Thank you,

Jumbo Loan Center
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Sat Jan 7, 2017
Sue Mesa asked:
Hello and PLEASE PLEASE ADVISE...When I bought my home conditions were 60,000 down and pay off 15,000 car loan...due to credit score only 620..I agreed AND AT TITLE ..I noticed amount due…
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Tue Jan 3, 2017
Robert Adams answered:
I would recommend reposting this in the Hawaii section for a better response. Right now you are posting in Las Vegas.

Good luck with your loan!
0 votes 7 answers Share Flag
Tue Jan 3, 2017
answered:
Yes if you can proof the last 12 months rental history, and have 0 x 30 day late payments in the past 12 months you can qualify with an FHA loan with only 10% down payment.

US Mortgage Lenders - Thomas Martin
Min FICO 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
http://www.fhamortgageprograms.com/
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Tue Jan 3, 2017
answered:
We can provide loans down to a 500 fico with 10% Down case by can if all your payments including rental history have been on time for the last 12 months.
US Mortgage Lenders - Thomas Martin
Min FICO 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
http://www.fhamortgageprograms.com/
... more
0 votes 4 answers Share Flag
Tue Jan 3, 2017
answered:
Yes, you can buy from a Single Family residence all the way up to a 4plex with an FHA mortgage loan. As long as the property is owner occupied. Meaning the borrower of the FHA mortgage loan has be living at the property as their Primary Residence. It can be done. You can purchase a 1-4 unit.

You will still have to qualify with your income and credit, and a portion of the rental income could possibly be used to offset the payment. As long as there are tenants already in place with long term lease agreements. You will have to put down 3.5% down payment and the seller can credit you up to 6% to cover your closing cost.

US Mortgage Lenders - Thomas Martin
Min FICO 580 FHA/VA Loan Approvals 7 days a week
PH: 954-667-9110
http://www.florida-mortgage-lenders.com/
http://www.fhamortgageprograms.com/
... more
0 votes 16 answers Share Flag
Wed Oct 26, 2016
Bradley Bellstedt answered:
There are but the condo itself has to pass the guidlines of the loan program. For a complete list of homes that are FHA and Conventional approved homes. Please send me an email to 702LVRE@Gmail.com and I will put you in touch with my preferred lender and he will get you the list. ... more
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Thu Oct 20, 2016
Bradley Bellstedt answered:
Hello!

The downpayment necessary to purchase a home will fluctuate with the type of loan program you are using. If you are a veteran you can use a VA loan which does not require a down payment. For an FHA loan the downpayment is 3.5% of the sale price and for a conventional loan the downpayment is 5% of the sale price. There are differing downpayment requirements for investors who don't plan on living in the home they are purchasing but I am assuming you are asking about the requirements for a home loan that you will occupy. Please email me if you have any other questions at 702LVRE@Gmail.com.

Thank you.

Bradley R. Bellstedt
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Tue Aug 16, 2016
Erika Bentley answered:
There are a lot of factors that go into refinancing. Give Pierre a call over at Cornerstone Lending and he can run you through some scenarios. http://www.vegashouseloan.com/

Just tell him that Erika Bentley sent you over. ... more
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Tue Jul 26, 2016
Joe Borelli answered:
The FHA Streamlined 203K version allows for up to $35,000 in non-structural renovations whereas the Standard version can be used for almost anything. Both are limited to the maximum FHA mortgage limits in your county. Both are based on the purchase price plus the cost of improvements.

Find local FHA lenders with expertise in handling 203K loans in Nevada:
http://203klenders.org/nevada-nv/
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Sat Jun 18, 2016
Lee Jones answered:
0 votes 7 answers Share Flag
Fri Jun 10, 2016
Pamela Kimble answered:
We lend to Foreign Nationals and LLC;s.

Nationwide, Direct Lender

pkimble@capstonefi.com

702.703.8091
0 votes 4 answers Share Flag
Wed May 4, 2016
June Buerkle answered:
You are looking for a Hard Money lender/investor to make you the loan. However, most hard money lenders look to make a rather hefty percentage on their loans ... and you won't be getting a 30 loan product so it is good you plan to pay off as fast as possible.

Do a web search for any local real estate investment clubs. Those meetings usually draw a few hard money investors.
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Thu Apr 28, 2016
Jane Wasylyk asked:
we are thinking refincing our new home.we used harp cpl yrs ago on other house.Is it 1 time using harp.or seen we moved can we used it in new house. plz let me know asap ty
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Tue Apr 19, 2016
Chris.gant asked:
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