Zillow Advice RSS: Question-Discussion-Guide,Approval Process,NV http://www.zillow.com/advice/NV/mortgage-approval-process/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Will we be able to get a mortgage after short sale in Las Vegas, NV http://www.zillow.com/advice-thread/Will-we-be-able-to-get-a-mortgage-after-short-sale-in-Las-Vegas-NV/426152/ If we short sale our home in Las Vegas will we be able to buy another house with a mortgage.&nbsp; OUr credit is good, currently over 800,&nbsp;but we had two 30 days lates.<br \><br \>10 replies Sun, 18 Dec 2011 22:27:00 GMT http://www.zillow.com/advice-thread/Will-we-be-able-to-get-a-mortgage-after-short-sale-in-Las-Vegas-NV/426152/ 2011-12-18T22:27:00Z Closing Trouble with "gifts" http://www.zillow.com/advice-thread/Closing-Trouble-with-gifts/601441/ So here's the problem, my girlfriend is in escrow with a home that we placed an offer on, we have received funds from her mother who we already deposited the money into the primary account into, our lender told us that we need a bank statement from her mothers bank but she does not want to give us the paperwork. HOWEVER, she does have the funds herself to put towards the downpayment without tapping into the "gift" money. Is that going to fly with the lender? or will we need documentation of all funds that go into that account even though it may not be towards the home? <br/><br/>Aaron<br \><br \>5 replies Sat, 22 Aug 2015 10:31:00 GMT http://www.zillow.com/advice-thread/Closing-Trouble-with-gifts/601441/ 2015-08-22T10:31:00Z Any reputable lenders for first-time home buyers with less than perfect credit in Las Vegas? http://www.zillow.com/advice-thread/Any-reputable-lenders-for-first-time-home-buyers-with-less-than-perfect-credit-in-Las-Vegas/585571/ Salutations! I am looking to purchase my first home here in Vegas. I have been doing research and it seems like the market is suitable for purchasing now. Let me give you a little background about moi... My job of over 3 years moved me to Vegas from Florida to help open our new office about a year and half ago. My FICO is 639 per freescoresandmore.com as of 5/2/15. (Not the best I know :( and just one point away from the 640 FICO a lot of lenders require...RATS!!!) &gt;My debt to income is 25.1. I make $35k annually.&lt; &gt;And I can afford a home that is $105k. I hope to have little to no down payment through any available down payment assistance programs offered.&nbsp; I hope this is enough information to get the feedback I need to so I can get pre-approved and start looking for a home of my own as quickly as possible. Any information, or advice is graciously appreciated Thanks for your time!<br \><br \>6 replies Tue, 05 May 2015 10:26:00 GMT http://www.zillow.com/advice-thread/Any-reputable-lenders-for-first-time-home-buyers-with-less-than-perfect-credit-in-Las-Vegas/585571/ 2015-05-05T10:26:00Z Can I get a mortgage with less than a 2 year work history? http://www.zillow.com/advice-thread/Can-I-get-a-mortgage-with-less-than-a-2-year-work-history/520145/ I am almost 20 and have been employed for a year and a half, I've worked at the same company since I graduated high school. &nbsp;I have an employment contract for a minimum of 2 years (contract lasts until November 2015) that also states my salary will never be less than 52k a year. &nbsp;I have 10% already in the bank for a down payment and my credit score is in the 700's, my only problem I am running into is that I have less than a 2 year work history. &nbsp;Would my employment contract be considered for stable work history as I am guaranteed a job for at least the next 2 years? &nbsp;Any advice will be very welcome as I have already found a home I am in love with and I am still struggling on how to get a mortgage loan.<br \><br \>15 replies Tue, 26 Nov 2013 03:42:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-mortgage-with-less-than-a-2-year-work-history/520145/ 2013-11-26T03:42:00Z Mortgage for a non resident in Las Vegas http://www.zillow.com/advice-thread/Mortgage-for-a-non-resident-in-Las-Vegas/569655/ i am a non resident and I am looking for a mortgage to buy a property in Las Vegas for around 800,000 usd.<br \><br \>6 replies Mon, 15 Dec 2014 18:29:00 GMT http://www.zillow.com/advice-thread/Mortgage-for-a-non-resident-in-Las-Vegas/569655/ 2014-12-15T18:29:00Z New Mortgage http://www.zillow.com/advice-thread/New-Mortgage/523913/ I have good credit in the high 775-790 with no blemishes. However I am belly up in my house. I want to rent it out and buy a new house. My current lender will not give me a loan unless I prove that I have it rented on my income tax. I do not want to move out without moving into a new home. However, for what I am paying for my house their are much larger nicer homes that I could afford. I know this can change rapidly as I have been watching homes go up the past few years. What are my options with a different lender so I can rent out my current home and buy new?<br \><br \>6 replies Thu, 09 Jan 2014 22:53:00 GMT http://www.zillow.com/advice-thread/New-Mortgage/523913/ 2014-01-09T22:53:00Z Mortgage after a Short Sale http://www.zillow.com/advice-thread/Mortgage-after-a-Short-Sale/415462/ Its been 2 1/2 years since we did a short sale on our former home.&nbsp;&nbsp; How hard is it to gget a mortgage now or should we look at being long term renters and not hope for a nnext home to own.&nbsp;&nbsp;&nbsp;<br \><br \>8 replies Tue, 13 Sep 2011 19:33:00 GMT http://www.zillow.com/advice-thread/Mortgage-after-a-Short-Sale/415462/ 2011-09-13T19:33:00Z Does any lender have any information on an IRS Form 8829 Expenses for business use of your home? http://www.zillow.com/advice-thread/Does-any-lender-have-any-information-on-an-IRS-Form-8829-Expenses-for-business-use-of-your-home/505609/ I have an in home business and I am able to deduct my home as business use.&nbsp; Does any lender have any information on this pertaining to getting a mortgage.<br \><br \>2 replies Wed, 07 Aug 2013 02:35:00 GMT http://www.zillow.com/advice-thread/Does-any-lender-have-any-information-on-an-IRS-Form-8829-Expenses-for-business-use-of-your-home/505609/ 2013-08-07T02:35:00Z Convention loan http://www.zillow.com/advice-thread/Convention-loan/504592/ I have 20K cash. Can I put down to purchase a town house in Las Vegas for 60K. My credit is no good, but excellent working history. Any lender consider helping me with this. Thnks!<br \><br \>5 replies Wed, 31 Jul 2013 18:08:00 GMT http://www.zillow.com/advice-thread/Convention-loan/504592/ 2013-07-31T18:08:00Z How long does underwritting take http://www.zillow.com/advice-thread/How-long-does-underwritting-take/492984/ I am purchasing a house in Henderson nv using homepath financing. And because I am using homepath we by passed the appraisal to speed up the process. I was told that the loan should be complete in about 2 weeks. That was about a month ago. Im getting frustrated because when I try to contact the lender&nbsp;it takes days to get a response. And when I do get a response is very vague.&nbsp;I need to be out of where I am living&nbsp;by the end of the month. So I am curios &nbsp;how long does underwriting typically take and if its taking this long is there a possibility that there maybe a problem they are not telling me?<br \><br \>5 replies Sun, 19 May 2013 07:42:00 GMT http://www.zillow.com/advice-thread/How-long-does-underwritting-take/492984/ 2013-05-19T07:42:00Z If you are using Homepath financing does the house ave to be a Homepath listing http://www.zillow.com/advice-thread/If-you-are-using-Homepath-financing-does-the-house-ave-to-be-a-Homepath-listing/493884/ I was told yesterday that I can use homepath financing as long as I put 20% down. That is ok. However I cant spend more than 105K to cover closing and the down. My lender also told me that the purchase price would have to be at least 90K and move in ready.<br/><br/>So my question is: Say I find a house for 85K and I offer 95k and the seller agrees. Does the house HAVE to be a Homepath listing or will Homepath cover any house I am willing to buy as long as it is within the 90k selling price and 20% down?<br/><br/>Sorry I need an answer quick. I am in escrow on one house and ready to pull the plug because the lender is jerking me around. If you use home path financing do you have to purchase a homepath listed house?<br \><br \>4 replies Sat, 25 May 2013 23:31:00 GMT http://www.zillow.com/advice-thread/If-you-are-using-Homepath-financing-does-the-house-ave-to-be-a-Homepath-listing/493884/ 2013-05-25T23:31:00Z I have a 626-629 median fico score. Can anyone approve me? http://www.zillow.com/advice-thread/I-have-a-626-629-median-fico-score-Can-anyone-approve-me/489608/ I don't have any collections and all my debt is paid off.&nbsp; I have about $12,000 for a down payment if needed.&nbsp; Is there a lender out there that can get me approved?&nbsp; I live in Las Vegas.&nbsp;<br \><br \>6 replies Thu, 25 Apr 2013 22:47:00 GMT http://www.zillow.com/advice-thread/I-have-a-626-629-median-fico-score-Can-anyone-approve-me/489608/ 2013-04-25T22:47:00Z Im hearing its hard to get a loan right now. http://www.zillow.com/advice-thread/Im-hearing-its-hard-to-get-a-loan-right-now/482026/ My girl and I are looking to buy a home. I have excellent credit and make 45k per year. She has good credit and makes 55k per year. Our jobs are relatively secure and we both have over 2 years of employment with the current companies we work for, and 5 years of employment in the same field. We are looking to spend around 200k on a home. Our only debt is our car payments, and it totals $600/ month. If i have 5% down is it likely that I am able to get a 30 year conventional loan, or would i need to go FHA? &nbsp;I would prefer to go conventional so i could aggressively make additional payments to stop paying pmi. i know a 15 year loan would be better to get out of pmi faster, but i like the security of knowing me or my girl could support the other If something unforeseen should happen.<br \><br \>5 replies Sat, 09 Mar 2013 12:04:00 GMT http://www.zillow.com/advice-thread/Im-hearing-its-hard-to-get-a-loan-right-now/482026/ 2013-03-09T12:04:00Z How bad are unauthorized hard inquiries below closing?? http://www.zillow.com/advice-thread/How-bad-are-unauthorized-hard-inquiries-below-closing/481283/ Hello All,<br/><br/>Hopefully someone can help me. I am on the process of buying a home, we are on the appraisal part already. Anyway, i was too paranoid that something bad will happen to my credit before we close so i decided to purchase TrustedID (they protect your identity). They gave me a free credit report and thats how i found out that the dealership i bought my car from last June 2012, for some reason run my credit for a new loan :( I dont know why the heck they did that and if that is even legal... My loan officer said do not dispute it until we get everything settled on the loan. I asked her if this could be a ground for mortgage denial but she did not respond :(<br/><br/>&nbsp;Can anyone shed some light? I am soo stressed right now<br \><br \>3 replies Mon, 04 Mar 2013 21:01:00 GMT http://www.zillow.com/advice-thread/How-bad-are-unauthorized-hard-inquiries-below-closing/481283/ 2013-03-04T21:01:00Z 760 credit score. Plenty of reserves but only 1yr work history. Get approved??? http://www.zillow.com/advice-thread/760-credit-score-Plenty-of-reserves-but-only-1yr-work-history-Get-approved/476845/ I was married before so I didn't work. No kids. I have a 760 credit score and plenty of cash in the bank but only 1yr work history since the split. My previous job was more than 4yrs ago. Can I get approved for a home loan? Through who should I try? Live in nv.<br \><br \>2 replies Fri, 01 Feb 2013 02:26:00 GMT http://www.zillow.com/advice-thread/760-credit-score-Plenty-of-reserves-but-only-1yr-work-history-Get-approved/476845/ 2013-02-01T02:26:00Z Married and Applying for FHA Loan in Community Property State http://www.zillow.com/advice-thread/Married-and-Applying-for-FHA-Loan-in-Community-Property-State/464749/ <p>My husband and I recently moved to Nevada and are planning on applying for a FHA loan to buy a small home. Is it possible to solely have my husband apply for the FHA loan and I have nothing to do with it? We have two cars and both are in my name and not his. I have zero income now that I am a stay at home mom. I was hoping he could only apply for the loan so they do not look at my cars and 1 credit card as debt. I know it is possible to do in most states but I do not know how it works in a community property state. He will be attending a home buying meeting at the end of the month but I am just trying to get a little info in advance!</p><br \><br \>1 reply Thu, 18 Oct 2012 21:29:00 GMT http://www.zillow.com/advice-thread/Married-and-Applying-for-FHA-Loan-in-Community-Property-State/464749/ 2012-10-18T21:29:00Z What can I do to get more (or better) quotes for my loan request ZR-CDGNPYK http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CDGNPYK/457496/ Hi. I am on disability and my total income probably does not exceed $30,000. However, I have some assets, including a $100,000 CD at Wells Fargo. I am thinking of buying a home in the $50,000-$60,000 range with at least 20 percent down and that's if I do not just pay cash for it. Anyway, there is nowhere in the preliminary approval process where I can mention the liquid assets I have that exceed my yearly income. Is there a way to deal with this?<br \><br \>1 reply Mon, 27 Aug 2012 19:22:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CDGNPYK/457496/ 2012-08-27T19:22:00Z Are there lenders that will give me a new loan for a condo 70k or less with a previous modification? http://www.zillow.com/advice-thread/Are-there-lenders-that-will-give-me-a-new-loan-for-a-condo-70k-or-less-with-a-previous-modification/454344/ 1 reply Mon, 06 Aug 2012 20:59:00 GMT http://www.zillow.com/advice-thread/Are-there-lenders-that-will-give-me-a-new-loan-for-a-condo-70k-or-less-with-a-previous-modification/454344/ 2012-08-06T20:59:00Z Qualifying for a mortgage while working abroad. http://www.zillow.com/advice-thread/Qualifying-for-a-mortgage-while-working-abroad/453016/ I'm a US citizen who lives and works abroad. I'm thinking of buying a condo in Las Vegas next year. My credit is good-excellent (750+). My revolving debt utilization is 0% (with a fairly high limit on my credit cards) The only debt I have is student loans, which are all up to date.&nbsp;<br/><br/>What's the best way to qualify for a mortgage? I've been at the same job for over 2 years, but since I live abroad, some lenders won't even talk to me.&nbsp;<br/><br/>I've heard my proof of income is simply the US taxes I file (which shows how much I make). I've also read that I might need to go through a lender that usually deals with international buyers - but most international buyers are looking for larger investment properties.&nbsp;<br/><br/>All I want is to put 20-30% down and get a 15 year fixed mortgage for less than $100,000.&nbsp;<br/><br/>What I'm asking: How do I find a lender that will work with me? What kind of terms can I expect, considering the uniqueness of my situation?<br/><br \><br \>5 replies Sat, 28 Jul 2012 06:53:00 GMT http://www.zillow.com/advice-thread/Qualifying-for-a-mortgage-while-working-abroad/453016/ 2012-07-28T06:53:00Z Self Employed Seeking Mortgage in Vegas http://www.zillow.com/advice-thread/Self-Employed-Seeking-Mortgage-in-Vegas/447498/ I now find myself in a position to purchase my first home.&nbsp; I have been told that being self employed makes it difficult to obtain a mortgage.&nbsp; My situation: 32 years old, Average balance of $40-$50k in the bank, profitable retail business. Inventory value is $223k, no debt on inventory. 2010 and 2011 net income is relatively low as I paid for inventory in full.&nbsp; Any suggestions where to start? (purchasing in Las Vegas, NV) Thanks in advance!<br \><br \>2 replies Tue, 19 Jun 2012 22:42:00 GMT http://www.zillow.com/advice-thread/Self-Employed-Seeking-Mortgage-in-Vegas/447498/ 2012-06-19T22:42:00Z