In Search of Las Vegas Home Loans

Getting pre-approved for a Las Vegas mortgage doesn't just tell you how much house you can afford. It also sends a strong signal to any Las Vegas home sellers that you are a serious buyer.

Getting pre-approved for a Las Vegas mortgage doesn't just tell you how much house you can afford. It also sends a strong signal to any Las Vegas home sellers that you are a serious buyer.

Few things rival the commitment that home loans Las Vegas do.

For most of us 30 years is close to a life time. It's just not a time frame we can get our heads around. And to top it off you're dealing with big numbers. What with the median price of a new build single-family home hovering around $325,000 that's not something you'll pay out of petty cash.

So while it may be fun to traipse throw model homes as well as open houses, what good does that do if you can't afford the payment on a Las Vegas mortgage for just the garage and mud room alone. Much less the entire house.

So get real and get pre approved. But before you stop by and chat up the smiling loan officer at the Las Vegas bank down the street make sure you don't make any common blunders others do right before applying.

For one those granting Las Vegas mortgages look askance at job hopping. It may be okay if you're on a salary and each job is a step up. But if you're on commission don't expect to be showered with praise for kicking the old boss to the curb two months ago. After doing the same with another seven months before that.

Then too, stay away from the car dealerships on E Sahara Blvd. Now's not the time to adding another monthly car payment, furniture payment or even one for a big screen TV. Especially if you're a first time buyer. You may be stretching to make the house payment as it is. That and your weaker credit history won't enamor you to Las Vegas mortgage lenders.

You also want to make sure you aren't over 50% of the available credit on any of your VISAs or MasterCards. It's another red flag that can make qualifying for home loans Las Vegas just that much tougher. And if nothing else subjecting you to higher Las Vegas mortgage rates

Worst case you may find yourself face to face with an interest only Las Vegas mortgage. Which isn't necessarily a good place to be at this point.

One other tip? If you've got a car loan and pay debt like this down to 10 (or fewer) payments it is likely this loan will not count against you when trying to qualify for any home mortgage Las Vegas, Nevada either. (Bet you did not know that!)

» Las Vegas Mortgage Guide