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Mortgage Q&A with a Local Las Vegas Lender

Las Vegas Real Estate Podcast with Corey Toushin

Aug 9, 2016News & Politics

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About This Episode

Mortgage Q&A with a Local Las Vegas Lender is an episode from Las Vegas Real Estate Podcast with Corey Toushin. /*Quote Box --------------------------------------*/ .quote-box{ display: block; margin: 20px auto 20px 40px; background: url( n...

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This episode belongs to Las Vegas Real Estate Podcast with Corey Toushin.

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Episode Details

Published Aug 9, 2016.

Questions About This Episode

What is Mortgage Q&A with a Local Las Vegas Lender about?

/*Quote Box --------------------------------------*/ .quote-box{ display: block; margin: 20px auto 20px 40px; background: url( no-repeat; background-size: contain; } .quote{ margin 0; display: none; } .left{ padding-top: 10px; float: left; display: none; } .right{ padding-bottom: 10px; float: right; display: none; } .quote-text{ font-size: 25px; margin: 0; padding: 0; color: $(link.color); text-transform: uppercase; font-family: Arial, sans-serif; } .mobile .quote-box{ display: block; margin: 20px auto 20px 40px; background: url( no-repeat; background-size: contain; } .mobile .quote{ margin 0; display: none; } .mobile .left{ padding-top: 10px; float: left; display: none; } .mobile .right{ padding-bottom: 10px; float: right; display: none; } .mobile .quote-text{ font-size: 25px; margin: 0; padding: 0; color: $(link-color); text-transform: uppercase; font-family: Arial, sans-serif; } Looking to sell your Las Vegas area home? Get a home value report Looking to buy a home in the Las Vegas area? Use our home search tool Today I'm joined by Steve Schauer with New American Funding to talk a bit about lending to follow up on last week's talk about interest rates. Interest rates for 30-year and 15-year loans are both below about 4%, depending on the FICO score and some other things. The turmoil in international markets is also holding interest rates down, and the Federal Reserve has said they will stay low for a bit. How long they'll stay low is uncertain, however, but Steve said he thinks they'll stick around for the next six months, and probably go up next year. Interest rates are low, but they will go back up soon. When it comes to waiting periods for getting a new loan after short sales or foreclosures, there are three basic loans. There is the VA loan with a two-year waiting period, FHA loans with a three-year waiting period, and conventional loans with a seven-year waiting period. There are some stipulations with a conventional loan that can push that waiting period down to four years, though. In Nevada, we also have something called the "Home is Possible" program, which is one of the best down payment assistance programs available because it has a high-income cap. Steve said he has buyers who have moved into a house with zero money down thanks to this program. With down payments, we also want to debunk the old myth that a 20% down payment is required to buy a home. With VA loans, you don't need to put anything down, and FHA loans require only 3.5% down. For a conventional loan, the minimum down payment is 5%. If you're seeking a home loan, you should avoid things that affect credit, like major purchases, job changes, and cash deposits. From application to close, try to keep everything status quo. If you have questions about mortgages for Steve, you can reach him at (702) 476-9000 or email him at steve.schauer@nafinc.com . For any real estate questions, feel free to give me a call or send me an email soon. I hope to hear from you soon!

Where can I listen to Mortgage Q&A with a Local Las Vegas Lender?

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Which podcast is Mortgage Q&A with a Local Las Vegas Lender from?

Mortgage Q&A with a Local Las Vegas Lender is an episode from Las Vegas Real Estate Podcast with Corey Toushin.

How long is this episode?

The episode duration depends on the source podcast feed and may not always be available.

When was this episode published?

This episode was published on Aug 9, 2016.

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Are there related episodes from Las Vegas Real Estate Podcast with Corey Toushin?

Yes. This page shows related episodes from Las Vegas Real Estate Podcast with Corey Toushin when more episodes are available from the podcast feed.

Quick Answers About This Episode

Where can I listen to Mortgage Q&A with a Local Las Vegas Lender?

You can listen to Mortgage Q&A with a Local Las Vegas Lender on this page when the episode audio is available from the podcast feed.

Which podcast is this episode from?

Mortgage Q&A with a Local Las Vegas Lender is from Las Vegas Real Estate Podcast with Corey Toushin.

What are the episode details?

Published Aug 9, 2016