We finally found a reputable lender with low fees and good rates that can do foreign national investor loans AND/OR loans on condo hotels. This is a "make sense" lender that can do portfolio loans outside the box. They have non warrantable condos and condo hotel financing for US citizens with 20% down payment, minimum $100k loan amount.
Below are some of the foreign national loan program highlights:
Minimum loan amount is $100k up to a maximum of $3M, though sometimes the lender can go higher on a case by case basis
They can do non warrantable condos or 1+ bedroom condo hotels as long as the condo hotel has a full kitchen
Down payment of 40% for vacation homes or 45% for investment properties
Now that you have seen the “Strip,” you may wonder if Las Vegas would be a great place to live. As you start your research, know that the individual tax picture here is one of the lowest of anywhere in the U.S. You have probably seen articles about our great climate with more than 330 sunshine days a year. (That’s more than any place in the “Sunshine State.”) You may have read articles about Henderson, Nevada, being one of the safest cities in America to live. Have you wondered where Henderson is relative to Las Vegas? In real estate articles about the Las Vegas market you may have seen that Summerlin is the writer’s favorite area of Las Vegas for finding a home. Where is Summerlin relative to the famous “Strip,” where you found such exciting amenities
Foreign national mortgages for Las Vegas investment properties are back!
Finally there is once again a company which can finance mortgage loans for foreign nationals that want to buy investment real estate in Las Vegas. The minimum down payment is 50% of the appraised value with a minimum loan amount of $100k, so properties purchased must be $200k or greater to meet program guidelines. The main program requirements are as follows:
All foreign properties owned by the borrower must be listed on the Schedule of Real Estate Owned. Verification of mortgage payments, taxes and insurance is required
A three year history of residence and job history is required.
While you’re sweltering in the heat, keep in mind that whether you’re buying or selling a home in Las Vegas, a swimming pool is more than a way to cool down – it’s also a big factor in home values. 2016 is set to be a record-breaking year when it comes to weather. According to the National Oceanic and Atmospheric Administration, January through June of this year was the hottest 12 year stretch in the last 136 years! No wonder more than 38% of Americans include a swimming pool when describing their “dream” home. Nationally, a recent survey taking into account a home’s size, age, location, etc., found that being able to include a swimming pool in a listing could increase a home’s price anywhere from 8% to as much as 19%! So, whether it’s a pool to
Veterans, are you tired of finding the perfect home, only to make an offer and get beat out by a cash buyer? Don't give up hope! You can still move into the Las Vegas home of your dreams this summer courtesy of a new home builder that supports our troops.
For the rest of the month of June, Richmond American Homes of Las Vegas is running a special promotion for all VA Home Buyers in recognition of their service to our country. With only $1 in earnest deposit*, Vets can purchase a brand new home.
And the interest rates are great too! With Richmond's preferred lender, Home American Mortgage Corporation, the current rate is only 3.75% (4.05% APR) 30 year fixed rate VA financing***. (See details below.)
One of my favorite things to do each year, is to park outside the Post Office on April 15th and watch the parade of cars as last minute procrastinators get in line to post their taxes before the deadline. Miraculously, everyone seems to be in a pretty good mood - after all, we are all in this tax thing together. Jokes and music fill the air, and the more enterprising even form impromptu tailgate parties.
But no one really likes to pay taxes, and if you found yourself reeling from sticker shock when your accountant handed you your 2013 tax bill, maybe it's time to reconsider the tax benefits of owning a home. Here are just the highlights of the major deductions you could have used if you owned, bought or sold a home in 2013.
April 15th is almost upon us, and if you are like most people, you are sitting hunched over your desk trying to find just one more deduction to claim before dropping your tax return in the mail. So if tax time has got you down, maybe you should consider moving and buying a home in Las Vegas. The following are excerpts from an article posted on The Credit Card Insider this month about paying taxes. One thing I couldn’t help but notice: when you get to the list of the eight cities considered the “best” cities for people who hate to pay taxes, Las Vegas and Mount Pleasant are the only two where you don’t need a winter coat!
So you’re from Canada, eh? And to get out of the bitter cold winters, you want to buy real estate in Las Vegas.
We all know how hard it is for Canadians to obtain a mortgage in the US nowadays. Las Vegas mortgage lenders restrict property purchases by foreign nationals to one vacation/second home with a down payment of 35% or more, and the buyer can’t own any other property in the States. (Of course that means no investment properties at all.)
One way around the US mortgage restrictions is to refinance property you already own in Canada and pay cash for your purchase here in Las Vegas. Below is a letter explaining the process from Canadian mortgage broker Rob Smith who specializes in Canadian refinances:
After 30 years of selling real estate in Las Vegas, I can state for a fact: Most buyers have ZERO imagination. When buyers tour a home for sale, most have a very difficult time visualizing anything other than the condition it is in currently. While a small percentage actually prefer a fixer-upper so they can get what they really want and not pay for someone else's taste, 95% really want a move in condition home and are willing to pay top dollar for it. In fact, many buyers in our area say they only want brand new homes, but if you show them one that is model perfect with everything already done, they will jump on it.
So if you are thinking of selling your home later this spring, NOW is the time to get it ready. Late spring is traditionally the time of