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Las Vegas Down Payment Assistance

October 5, 2008 |  Tagged , , , , |

Las Vegas mortgage down payment assistance programs have officially been removed as an option per the new “Hope For Home Ownership Act” that went into effect Oct. 1 2008.

Downtown Las Vegas properties are seen behind residential neighborhoods February 8, 2008 in Las Vegas, Nevada. It was reported that the Las Vegas area has been hit with the largest amount of home foreclosures in the country as a result of the subprime mortgage crisis.

Image by Getty Images via Daylife

Currently, the minimum down payments to secure mortgages are $1 for VA, 3.5% for FHA loans, and 10 - 20% for conventional loans. Down payments for jumbo mortgages (anything greater than $417,000) are approved on a case by case scenario depending on credit, income, and assets.

If you are having a challenge finding a down payment, there is always the 12-month lease option program that allows a borrower to actually refinance into a new property after 12 months of payment history.

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Top 5 Las Vegas Mortgage Links / Articles / Questions

  1. Las Vegas First-Time Home Buyer Frequently Asked Questions
  2. Las Vegas Mortgage - How Much Can I Borrow?
  3. What Are The Current Mortgage Interest Rates?
  4. Applying For A Las Vegas Mortgage - Required Documentation?
  5. How Does The Mortgage Approval and Funding Process Work?

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Raintree Mortgage (Las Vegas)

9488 West Flamingo Rd. Suite 102
Las Vegas, NV 89147 | NV LIC 2511
702-432-5626 | Email

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