How Mortgages Have Changed

AND what you can do now to own a home.

   Only a few ago just about anyone could get a loan. If you had a pulse, we could find you a loan. That unfortunately got a lot of people in trouble. Buyers were being qualified for homes they really couldn't afford. Home owners were noticing their sub prime mortgage loans coming due and it was costing them right out of their homes.  So many failed to make their payments and now here we sit with so many foreclosures on the market.

   But buyers are still getting loans and people are still selling for decent amounts. The savior is FHA loans. They have always been there and a decade or so ago they were the saving grace of those that only had a little to put down but still needed a good condition home.  Convential loans seemed only possible for those selling current homes to put at least 20% down on a new home.

   Lenders and the Feds came along and said buyers could obtain two loans to buy a home. One support the 80% and the other to support the 20%. This is a sub prime loan. Little did buyers know that unless they refinanced once their home gained enough equity to sustain the entire loan, they were in for a big surprise on their payment.

   But now, buyers are back to basics. Its a great time to buy with the amount of low priced homes on the market and with just a little down, you can own a great home at a small payment per month. 

Let us help put you into a new home today. We have hundreds of homes on the market and some to fit your lifestyle and family. We service the entire Las Vegas real estate area and also all of the Henderson NV real estate market. 

 Thanks for letting us be a part of your home buying process.