Thanks to Habitat for Humanity Las Vegas and support from the Greater Las Vegas Association of Realtors, a hard-working Henderson woman will soon realize her dream of owning her own new home.
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This is not the first time a reader has sent me such an email. It is a delicate situation, especially when the board member works hard on behalf of the association.
Here are a few things everyone needs to know about getting a home loan for a veteran.
The artists’ three-bedroom, 2,900-square-foot house was built in 1973 and is in a well-preserved neighborhood close to downtown. From the street, it looks as though it might be the Brady Bunch’s Las Vegas lair until you enter and take in the 1960’s kitsch, vintage furniture and original modern art.
If you already have a Veterans Affairs loan on the property, the VA requires only that you are looking for a rate reduction and have a clean payment record with no more than one late payment in the past year. This simplified process is known as streamline refinancing.
There’s one big, red-letter exception to the rule I mentioned — the rule that says you can cancel PMI when you owe 80 percent or less of the home’s value. That exception involves FHA loans.
Refinancing from a 30-year mortgage into a 15-year mortgage is an excellent way of taking advantage of today’s low low-interest rates. You pay more every month but cut your overall interest payments by tens of thousands of dollars over the life of the loan.
To place additional pressure on this homeowner, the community manager should contact the Southern Nevada Health District, as well as Clark County Animal Control. Hopefully, these two agencies will assist this community.
Editor’s note: Listings include the resale home’s parcel number. The address listed is the homebuyer’s mailing address and not the actual location of the resale home. About 90 percent of these addresses reflect the home purchase. Check the parcel number to make sure. Also, a few transactions do not reflect the market value of the homes. The information is provided by Accudata, a local research firm. For the complete listing, visit RJRealEstate.Vegas or on Facebook at www.facebook.com/RJRealEstateLV.