| NEVADA BOND PROGRAM |
| 1) A first-time home buyer is defined as someone who has not owned or co-owned their own residence within the past three years. |
| 2) If you are purchasing in a "Targeted Area" there are no restrictions on former home ownership. |
| 3) Total Gross Income cannot exceed $72,120. If you have a 3 person or more household it cannot exceed $84,140. |
| 5) Assets may not exceed 50 percent of the purchase price |
| You will have to pay back that loan as well but it comes with an interest rate only slightly higher than the other mortgage. The rate on the down payment funds is 8.35% today and the loan is payable over 20 years. Plan on about $8 per month for every $1000 you borrow. |
| successfully complete a one-day First Time Home Buyer Education Course |
| 45-day close |
| Bank list | ||||||||
| Countrywide | Nevada Bond | |||||||
| MetLIfe | 1st mortgage - 7.25% | 97% | $ 992 | |||||
| Bank of America | 2nd mortgage - $10,000 - 9.124% | 20 year loan | $ 36 | |||||
| Wells Fargo | Can refinance! | $ 70 | Mortgage Insurance | |||||
| Captures when home sells | $ 1,098 |
Xiao-Qing Lu (Shall-Ching)
Keller Williams Realty
Phone: 702-212-2288
Real Estate for the Next Generation!
MBA - Rutgers University 2002
BS - Rutgers University 1996
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