Buying a home?
We provide a guide to home buying for new home buyers to the most experienced real estate investors.
Getting a home loan?
We walk you through a simple step by step process to get you a home loan custom and affordable for your lifestyle.
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The only home loan support 365 days, 7 days a week and 24 hours a day. We provide support day or night for all our clients.
BUYING A HOME IN NEVADA
MortgageLV.com ensures an EASY and SIMPLE step-by-step process to home loans.
Buying your first home is an exciting and important milestone, not to mention a long-term investment.
Buying a Home
Are you dreaming of moving into a home? If you’re new to home buying, it’s natural to wonder how the home-buying process works. From finding the perfect one to financing a home purchase, you may feel a little overwhelmed thinking about it. Not to worry, we’ll take the mystery out of the process of purchasing a home in this step-by-step guide to buying a house for the first time in Nevada.
Step 1
Determine your motivations for buying a house.
Step 2:
Evaluate if you’re financially ready to buy a home.
Step 3:
Explore your home loan financing options.
Step 4:
Get pre-approved for a home loan.
MORTGAGE LOANS IN NEVADA
MortgageLV.com can make sure your Home Loan is Done Right so your payments are affordable.
We show you the mortgage basics, including what a mortgage is, typical types of loans and the concept of shopping for a lender.
The Mortgage Process
Buying a home is one of the largest purchases most people will make in their lives, and taking out a home loan is a common way to finance the purchase.
Step 1. Get Preapproved
Getting a mortgage preapproval should be at the top of every home buyer’s to-do list. Before you even bother to see what houses are on the market, you should be reasonably confident in how much money a mortgage lender is willing to let you borrow – and this comes with preapproval.
Step 2. Prepare Your Documents
Most lenders require documentation of your debts, assets and credit history, along with proof of employment and income. The more information you can give your lender upfront, the stronger your preapproval will be because you and the seller will feel more confident that your loan will ultimately receive final approval.
3. Determine Your Budget
Your preapproval letter will tell you how much money you can borrow. However, just because you’re preapproved for a certain amount doesn’t mean you should stretch your budget. Try using a mortgage calculator to determine a realistic estimate for monthly mortgage payments
The Loan Application
Enjoy the best customer service and Simple
application process
The loan application will provide us with your personal financial profile. It will tell us more about your credit, income, and assets. These are the three most important pieces to your financial puzzle in helping us determine your qualifications.
Deciding on a Loan Type
There are two basic types of mortgages: fixed-rate mortgages and adjustable-rate mortgages. Your loan type will determine whether your interest rate and monthly payment will change over time.
Fixed-rate mortgages (FRM)
lock in one interest rate for the life of the loan. This means your monthly mortgage payment will remain the same for the entire loan term. Because of the payment stability, fixed-rate mortgages are the most used loan type. We offer 30-year, fixed-rate mortgages with below-market interest rates to low-to moderate-income families and individuals in Connecticut. This guide will help you understand the process of buying a house with a loan.
Adjustable-rate mortgages (ARM)
have an interest rate that will change over the life of the loan, and rates for ARMs typically start off lower than those of a fixed-rate mortgage. After an initial hold period, ranging from six months to 10 years, your interest rate will change based on market conditions, whether higher or lower than your current rate. However, ARMs have maximums and minimums that the interest rate can change at each adjustment period, as well as over the life of the loan.
After your home loan is preapproved
After the loan is preapproved it can be fun and exciting to start your home search.
Once you have completed your pre-approval, the fun begins. It is now time to go look at some of the houses you have been viewing online. It’s a special time – going into these homes in person – when you know you can actually purchase the home as your own. It’s fun to imagine where to put your furniture!
