Las Vegas Mortgage Lender Offers Outside-the-Box Financing - Wandtv.com, NewsCenter17, StormCenter17, Central Illinois News-

Las Vegas Mortgage Lender Offers Outside-the-Box Financing

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Las Vegas, NV / ACCESSWIRE / May 8, 2014 / Everyone knows how hard it is to get a home loan these days, even when you fit within the standard guidelines. And for many, there are no mortgage loan programs available at all. 

The Tonnesen Team of GreatLasVegasHomes.com is excited to announce that our preferred mortgage lender has partnered with one of the local banks in Las Vegas, and now has four exciting new loan programs that no other lenders in Las Vegas can offer.

These are exclusive programs that were specially developed for our real estate clients buying property in Clark County, NV. Below are the guidelines for the Fresh Start Loans (only one day out of short sale or foreclosure), 5% down Jumbo Loans, 10% down vacation home loans, and 5% down high rise or residential condo loans.

FRESH START Mortgage One Day Out of Short Sale or Foreclosure

- 80% Loan to Value from $100,000 – $1,000,000
- 75% Loan to Value from $1,000,001 – $2,000,000
- Minimum Loan Amount is $100,000
- Rates as low as 4.75% for 30 Years and 3.625% for 15 Years
- Minimum 620 Credit Score
- Minimum 6 months reserves
- Primary Residence Only
- Letter of Explanation for Short Sale or Default
- 1 Day out of short sale/foreclosure allowed. (BK ok if correlated to Short Sale/Foreclosure)
- Borrower must join Credit Union prior to close with a $100.00 opening balance

JUMBO Loans up to 95% LTV

- 95% Loan to Value up to $850,000 Loan Amount.
- 80% Loan to Value from $850,001 – $1,000,000
- 75% Loan to Value from $1,000,001 – $2,000,000
- Minimum Loan Amount is $417,000
- Rates as low as 4.75% for 30 Years and 3.625% for 15 Years
- Minimum 620 Credit Score
- Minimum 6 months reserves
- Mortgage Insurance – Monthly or One Premium at Closing.
- Second Home Max 90% LTV (No Investment Properties)
- Borrower must join Credit Union prior to close with a $100.00 opening balance

HIGH RISE Condos or Low Rise Condos

- 95% Loan to Value from $100,000 – $850,000
- 80% Loan to Value from $100,000 – $1,000,000
- 75% Loan to Value from $1,000,001 – $2,000,000
- Rates as low as 4.75% for 30 Years and 3.625% for 15 Years
- Minimum 620 Credit Score
- Minimum 6 months reserves
- Second Home Max 90% LTV (No Investment Properties)
- Condo cert required to determine no structural litigation
- Borrower must join Credit Union prior to close with a $100.00 opening balance
- Condo-hotels are not eligible for this program

Second Homes/Vacation Homes up to $850k

- 90% Loan to Value from $100,000 – $850,000
- Rates as low as 4.75% for 30 Years and 3.625% for 15 Years
- Minimum 620 Credit Score
- Minimum 6 months reserves
- No “add-on” fees for discount points, underwriting, or processing

If you are trying to buy property in Las Vegas and haven’t been able to find the right mortgage loan to fit your situation yet, our lender just might have it! Give us a call today at 702-985-7654 or email sold@greatlasvegashomes.com

 

Source: GreatLasVegasHomes.com

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