www.lasvegasmtg.com Report: Las Vegas Highrise Condo Financing now available

By
Mortgage and Lending with All Western Mortgage Broker # 14210

www.lasvegasmtg.com Report: Las Vegas High-rise Condo Financing now available

By John Le Francois

LasVegas High-Risewww.lasvegasmtg.com Report: Las Vegas High-rise Condo Financing now available. Everyone that has been in Real Estate for any length of time knows that trying to get financing for a Condo in Las Vegas, NV. is next to impossible. Getting a High-Rise Condo would take an act of Congress and would be inclined to be a futile effort. 

At All Western Mortgage we now have several new programs that are available to clients to buy owner occupied and 2nd home Condos and High-Rise units.

Fannie Mae owned Condo and High Rise Condo properties that are eligible for HomePath Financing can be purchased without a Condo Certification. Fannie Mae Condo and High-rise Condos Properties can be found at www.homepath.com and if the properties have the HomePath Financing logo on the listing they would be able to purchase as Owner Occupied or as a 2nd Home.

Las Vegas, NV. High-Rise ViewCurrently there are 359 Condos listed on the Fannie Mae HomePath.com website with 327 under contract and 32 active listings 3 of those are high-rise priced from $80,000 to $200,000.

HomePath Financing:

Owner Occupied:

 5% down and No Mortgage Insurance with Minimum FICO score needed is 640 and maximum Debt to Income is 45%.

 

Las Vegas High-Rise Kitchen2nd Home:

10% down and No Mortgage Insurance with a Minimum FICO Score needed is 720 and Maximum Debt to Income Ratio is 45%.

The other option that is available to All Western Mortgage are two new Portfolio Lenders. Portfolio Lenders do not follow Fannie Mae Guidelines but do common sense underwriting and service the loans they write. In the next article I will discuss the guidelines for these two portfolio lenders.

 

Posted by

         Kenny Salame                                                                                                  Equal Housing

Kenny Salame
Senior Loan Officer
All Western Mortgage Inc.
8345 W. Sunset Rd.
Suite 380
Las Vegas, NV, 89113
US                            
Mobile: 702--506-3301
Direct: 702-947-0609
Office: 702-369-0905
Fax: 702-952-0887
ksalame@allwesterm.com
 
 
 
 
 
 

Comments (2)

Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Very good to know John!

Feb 19, 2011 04:26 AM
Kenny Salame
All Western Mortgage Broker # 14210 - Las Vegas, NV
NMLS ID 313873

Renee,

Thank you.

Feb 19, 2011 06:31 AM