Buying a Home

So you've decided to live the American Dream and buy a home. Despite the crazy market conditions in Las Vegas, the prices and historically low interest rates still make it a good time to buy! Las Vegas home values are lower than they have been in years (despite the uptick in 2012-13) and interest rates are incredibly low. U.S. Department of Housing & Urban Development (HUD) has information on comparing mortgage terms (pdf file), homebuying programs in your state, and more. Here is a Bankrate.com link to help you calculate how much home you can afford. Here is another affordability calculator from TotalMortgage.com: Affordability Calculator
If you're concerned about your credit score, there are credit repair agencies that offer a money back guarantee if your FICO score isn't raised a certain amount. See my links below for contact information for a local company.

3 Steps!

Simplified, there are 3 steps on the path to ownership.

Step 1, procure financing. You may have cash on hand to purchase a home, or you may need financing. (See the links below for some mortgage consultants.)

Step 2, find a home! (This is where I come in...) I will search for available homes on the market using the criteria you specify. Need a big kitchen? A large garage? A small maintenance-free yard? A single story? The more wants and desires you have, the faster we can whittle down the available properties and find you the perfect home! See the links below for school and crime information.

Step 3, buy the home. Whether we have to work through a short sale, negotiate an equity sale or purchase a foreclosed property, I will be with you every step of the way. We will write a strong offer, find a trustworthy inspector and make sure that we can close escrow on time!

Lenders

Pre-qualification is done over the phone or internet with a simple form. They generally ask for a ballpark amount for your income and expenses, and they give you an idea of what amount you are likely to be approved to spend.

Pre-Approval means they have requested your credit report, verified your income with pay stubs, income tax returns, etc. You can sometimes lock in an interest rate provided you enter a contract in the near future, and they can usually give you a number pretty close to your actual mortgage payment.

Here are a few mortgage consultants with whom I have worked, and of course you are free to use your personal bank/credit union.

Kari Phillips (Southern Fidelity Mortgage)
Website  Prequal Link
702-375-3401
kari.phillips@gosouthernfidelity.com
"I can do pretty much every loan out there. Conventional, Homepath, FHA 203K, FHA, VA, Jumbo, Canadian loans, High debt to income loans, Investment homes, I can lend for people who own up to 10 properties, down to a 600 fico score, TIN numbers OK!"

Justin Pierce (Geneva Financial Group)
Website
702-309-9600
JPierce@genevafi.com


Current Mortgage Loan Interest Rates:

Mortgage Rate Averages
Free mortgage rate averages by Bankrate.com

Helpful Links BEFORE You Buy

Clark County School District Zoning Information
Search to find out which school your child will attend.

Nevada Energy (electric company)
Get information about electric usage for the house you are considering by calling 702-367-5555 and following the automated prompts.

Southwest Gas Company
Get information about natural gas usage for the house you are considering by calling 877-860-6020 and speak with a billing customer service agent.

Southern NV Water Authority
Our local water company.

Clark County Regional Flood Control District
Information about Flood Zones in Clark County.

Search for crime statistics in your neighborhood:
Las Vegas Metro Police Dept Crimeview Incident Map
North Las Vegas Police Department's Crime View Community Web Site
City of Henderson Crime Search

Worried about your credit score?
Here is a Federal Trade Commission website with information about credit repair. And here are some local credit repair specialists:
E Credit Advisor - Patti Martinez
818-435-4364   pmartinez@ecreditadvisor.com

AnnualCreditReport.com
This is the true FREE credit report website. It is free if you don't need your score, and you can request your credit from each of the 3 agencies once a year.

Helpful Links AFTER you Buy

What is "Homesteading" your home?
Here is the Clark County Homestead website with information about the homestead process. Don't pay $50 or more for a 3rd party company to do what you can for $17! And of course, my wife (the attorney) can assist if you need help.

Have questions about your Home Owners Association?
Contact the Nevada Ombudsman. "The office [of the Ombudsman] was created to assist homeowners and board members in common interest communities to better understand their rights and obligations under the law and their governing documents."

Homes for sale in NW Vegas

God First     REALTOR     Equal Opportunity Housing     Strategic Realty