Welcome, Friends! This is your One-Stop Shop information resource. I concentrate on what is happening in the Las Vegas, Henderson and Summerlin Real estate markets. If you are buying or selling, I am your man.

Need Free Down Payment For Buying Real Estate?
Look No Further!

The following programs are available through NVAHREP:

1. NSP - Neighborhood Stabilization Program

.Up to $25,000 in Down Payment / Closing Costs Assistance
.Primary Residence Only (Buyer cannot own any other Properties
.Family Income 120% AMI (Average Median Income)
.Zip Code Restrictions

2. North Las Vegas Home Funds

.Up to $20,000 in Down Payment / Closing Costs Assistance
.First Time Home Buyers Only
.Family Income Cannot Exceed 80% AMI
.North Las Vegas Properties Only

3. Clark County Home Funds

.Up to $15,000 in Down Payment / Closing Costs Assistance
.First Time Home Buyers Only
.Family Income Cannot Exceed 80% AMI
.Clark County Properties Only

4. Wish Funds

.3-1 Contribution (Buyer Contributes $5,000, Wish Funds $15,000 Max.)
. First Time Home Buyers Only
. Family Income Cannot Exceed 80% AMI
. No Property Restrictions.

Alternative Loan Programs

2nd Chance Program Designed For People With Recent Foreclosure/BK & Short Sale.

.20% minimum down payment.
.30 or 15 year fixed interest rate-no prepayment penalty. Rates very competitive.
.1 year post Foreclosure & Short Sale (will entertain lesser time period but will require compensating factors)
.620 min. FICO (will entertain down to a 580 with good compensating factors)
.Proof of no deficiency judgment or collections.
.Manually underwritten so every loan is looked at to see if it makes sense.
.Loan amounts up to conforming limits-$417,000.

100% Financing Program:
.
720 minimum FICO
.80% 1st Mortgage- 30 or 15 year fixed rate-no prepayment penalty. Rates very competitive.
.5% to 20% 2nd Mortgage- 30/15 (Balloon payment in year 15)
.No mortgage insurance! After the increase in monthly MI for FHA loans in April, the monthly payment for this program at 100% will probably be less than the FHA payment with MI at 96.5% LTV!

FHA 203(k) Streamline Loan Program:

.FHA Rehab Loan allows for up to $35,000 in “non-structural/cosmetic” repairs or upgrades to a home financed into the mortgage.
.Competitive Interest Rates.
.The buyer can make any home “their” home with new flooring, paint, kitchen, roofing, appliances, HVAC, and much more.
.Landscaping not eligible, however, the program will allow for up to $1,500 in pool repairs including equipment replacement.
.Can be used in conjunction with the FHA Energy Efficient Mortgage (EEM) to replace inefficient appliances.
.Use of a “dedicated” 203k contractor to dramatically simplify the mortgage and refurbishing process and speed up closing. .Usually only requires an extra 5 business days to the escrow period.)
.Same qualifying guidelines as any standard FHA loan.
.Buyer doesn’t have to spend important cash or run up credit card debt after closing on a home that needs upgrades.
.Buyer can make offers on properties needing repairs that others will not allowing for less competition and more bargaining power for price/contributions/etc.

Home Ownership Accelerator Loan Program:

.Unique mortgage product designed to dramatically decrease the amortization period without changing the spending habits of the borrower. (No need to make extra payments for principal reduction.)
.720 min FICO.
.Loan amounts up to $1.5M at 75% LTV. .Great Jumbo alternative)
.Loan is actually an equity line allowing for access to equity in the home for emergencies, investments or other cash needs.

Condo Financing:

.80% LTV for Owner Occupied/2nd Home-75% for Non-owner Occupied.
.No HUD or Fannie Mae Condo approval required. (Condo unit cannot be in active litigation for structural cause.)
.Loan amounts as low as $40,000.
.Min FICO-680 Owner Occupied, 720-N/O/O (lower scores will be considered with good compensating factors)


Don't Meet Bank Standards?
Hard Money Loans are also available

.Max LTV 65%
.Residential properties only
.Foreign Nationals
.Purchase or refinance
.Lenders prefer non-owner occupied properties

**Information is deemed reliable but not guaranteed. All programs subject to change without notice.**