Getting a Mortgage and Buying a House


All You Need to Know Before You Buy A House

Mortgage Broker - Loans for Byuing a House - Las Vegas
Buying a house is an enjoyable experience, if you know what you’re doing. Besides all the fun, there is also a lot of responsibility, because it’s a long-term investment. Moreover, you may be living in it for years, so before you buy a house, make sure it’s the perfect choice.
So, here’s an overview of the information that will help you make a more informed purchase decision. We hope you will buy a house in Las Vegas that is worth it.

Buying Your First Home

Your first time buying a house will always be exciting, but also nerve wracking. You definitely have a lot of questions and don’t know where to look for the answers. What is the real value of the house? What are the best mortgage options? Or, finally, is it really worth it? Here’s where to get more information:


Mortgage Broker - FHA Loans - Las Vegas

What loans can you take?

Every homebuyer needs a unique approach. Our team of experts will look into your situation and figure out the best loan for you:

FHA loan - These loans are easy to qualify for and have extremely low down payments.

30-year fixed-rate mortgage - These fixed-rate loans are perfect for borrowers who prefer to make long-term plans.

VA loan - If you are a veteran, a veteran’s spouse or a member of the military, you can benefit from VA loans.

Jumbo loan - If your loan size ranges from $454,000 to $3 million, consider the flexible interest rates of Jumbo loans


Frequently Asked Questions

How much should I spend on a house?

When it comes to the price of a house, you need to consider two things. Is it what you want in a house? And can you afford it?
Remember, you’ll be paying for the house loan for years to come, so make sure it’s worth it every month. Here’s how to understand how much you can afford.
Generally, it’s advisable to buy a house for the 28% of your income after tax. For instance, if you earn $60,000 annually, the 28% of that sum will be $16,800. To simplify even further, it will be $1,400 per month.
Of course, this formula is not set in stone. You can go higher and lower. It’s important to pick a monthly payment sum that you’ll be comfortable with. You will always have other costs to cover, don’t let the house payment get in the way.

Should I really buy a house?

Buying a home is a serious decision. It’s also a long-term commitment, so make sure you’re ready for it. Consider the following:

If the rates are low, the market is relatively calm and you’re here to stay, buying a house is a good decision.

How much will I have to pay as a closing fee?

When your offer to buy a home is accepted and you are in a contract, the mortgage process will begin.The closing cost may vary depending on the state and the type of loan. It mainly consists of fees for appraisal, attorney, title, recording, credit reports, pest inspection, taxes, surveying, and more.

Make sure to obtain the Loan Estimate and the Closing Disclosure, which will mention the closing costs. This process will have a certain cost (closing cost).

Why do I need a real estate agent?

Finding a great house and also figuring out the ways to pay for it is a tough job. You will need to take care of your upcoming loan, the documents, and go house hunting all at once. Real estate agents help you find great houses that fit your budget. Since they’re already experienced, they can also help you with the documents and negotiations. A good real estate agent can help you find a better loan and negotiate a lower price for the house.

Can I sell a house while buying a new one?

Buying a house is a very time-consuming and important task. If you also want to sell a house in the same time period, it will be even more time-consuming. The answer is yes, you can do it. But in most cases you will need to take some time off from your daily work. This is the price you need to pay to occupy yourself with house hunting and the financials.
If you are looking for an easy method, hire a real estate agent or agency to help you up. The agent will help you both sell and buy a house. They’re also up-to-date with market changes, so they can help you lower the price.
Finally, extend your closing date term. Make sure moving from one house to another is done smoothly. Agree on a closing time of 60 or 90 days. Also, look into possible funding methods, like bridge loans. Otherwise, you will have to sell the house first to be able to pay for the new one.