If you’re looking to buy a house or investment property in Las Vegas, Blackmon Home Loans can help you access the best conventional home loans for your purchase and your budget.
Comparing mortgage finance options can feel like an overwhelming task, especially if you are looking to purchase real estate for the first time or don’t fit traditional lending ideals.
Having an experienced, knowledgeable mortgage broker on your side will result in long-term satisfaction. Let’s take a closer look at the benefits of conventional loans for your Nevada property.
- Used By Most Buyers
- Down Payment Of At Least 3%
- Low Private Mortgage Insurance (PMI)
- No PMI Required With 20% Down Payment
- Loan Rates Based On Credit Worthiness
- Faster Processing Times
- Higher Funding Limits
- Fewer Restrictions On Appraisals
- No Special Requirements
Is A Conventional Home Loan Right For Me?
Unlike with FHA or VA mortgages, a government entity does not back a conventional home loan program. Instead, they rely on private mortgage lenders such as banks, credit unions, or other financial institutions. Your approval and interest rate for this type of financing will be based largely on your credit score and the amount you can put toward your down payment. We will go over your options and offer you the best rate that is available.
- 15 Year Fixed Mortgage
- 30 Year Fixed Loans
- Fixed Rate Mortgage Loans
- A Credit Score Of 620+ Is Ideal
- Debt-To-Income Ratio Should Be Less Than 50%
- Ask About First-Time Homebuyers Programs
- Borrower Requirements Can Vary
Making Sense Of The Numbers
You may have read about conventional mortgages that require any amount from 3% to 40% down. That’s because different terms are available for different loan types.
- First-time Buyers
- Multi-family Homes
- Second Homes
- VA Loans
- Jumbo Loans
Conventional loans are the standard type of loan that is used for real estate financing. They are suited best for the majority of buyers and types of property purchases.
Nevada Mortgages Done Right
Take the guesswork out of finding the right home financing. Streamline the application and approvals process. Contact Blackmon Home Loans in Las Vegas, Nevada today to learn more about conventional home loans and see how much you qualify for.