Welcome to Las Vegas Mortgage

At Las Vegas Mortgage, we pride ourselves on being your trusted direct lender, offering unparalleled expertise and personalized service. With over 25 years of experience, our team of seasoned loan officers is dedicated to guiding you through every step of the mortgage process. We offer a comprehensive range of loan programs, including FHA, conventional, VA, USDA, ITIN, private money, and more, tailored to meet the diverse needs of our clients.

Whether you're a first-time homebuyer, looking to refinance, or seeking an investment property, we're here to provide the support and solutions you need. At Las Vegas Mortgage, your financial goals are your priority, and we are committed to helping you find the perfect loan to fit your unique situation.

Start your journey to homeownership or refinancing with confidence, knowing that our experienced team is here to ensure a smooth and successful experience. Welcome to Las Vegas Mortgage—where expertise meets exceptional service.

Kevin Schanda

Senior Mortgage Advisor

NMLS 93971

At Las Vegas Mortgage, we are dedicated to supporting you every step of the way. Our experienced team is here to provide personalized guidance and solutions, ensuring you have the best possible experience as you navigate the mortgage process. Your financial goals are our priority, and we are committed to helping you achieve them with confidence and ease.

About Us

Jonathan Fesser

Mortgage Advisor

NMLS 2225687

The Mortgage Loan Application Process at Las Vegas Mortgage

At Las Vegas Mortgage, we strive to make the mortgage application process as smooth and straightforward as possible. Here’s a step-by-step guide to help you understand what to expect:

1. Initial Consultation

The first step is to connect with one of our experienced loan officers. During this initial consultation, we’ll discuss your financial goals, homeownership plans, and the various loan options available to you. This is also a great opportunity to ask any questions you may have about the mortgage process.

2. Submit a Full Application

Once you’ve found the property you wish to purchase, you’ll need to complete a full mortgage application. This includes providing detailed information about your employment, income, assets, and liabilities. Our team will guide you through the application process, ensuring all necessary documents are submitted.

3. Documentation Review

After submitting your application, we will review all the provided documentation. This includes verifying your income, assets, and credit history. Common documents required include pay stubs, tax returns, bank statements, and identification. Depending on your specific loan type, additional documents may be needed.

4. Pre-Approval

Getting pre-approved is an important step that helps you understand how much you can afford and strengthens your position as a buyer. To start the pre-approval process, you’ll need to provide financial information, including income, assets, debts, and credit history. We will review your financial profile and issue a pre-approval letter, which outlines the loan amount you qualify for. This letter can be a valuable tool when making an offer on a home.

5. Property Appraisal

An appraisal will be conducted to determine the market value of the property you intend to purchase. This ensures that the property is worth the amount of the loan. The appraisal report will be reviewed to confirm that the property meets the required standards and that the purchase price aligns with its market value.

6. Underwriting

In the underwriting stage, an underwriter will evaluate your application and the associated documents to assess your ability to repay the loan. The underwriter will consider factors such as your credit history, income stability, and the property’s value. They may request additional information or clarification if needed.

7. Loan Approval

Once the underwriter has reviewed and approved your application, you’ll receive a loan approval or commitment letter. This letter outlines the terms and conditions of the loan, including the interest rate, loan amount, and any contingencies that must be met before closing.

8. Closing

The final step is the closing, where all the necessary paperwork is signed, and the loan is finalized. At the closing, you’ll review and sign the loan documents, pay any closing costs, and receive the keys to your new home. Our team will guide you through the closing process to ensure everything goes smoothly.

9. Post-Closing Support

After closing, we continue to provide support for any questions or needs you may have regarding your mortgage. Whether you’re looking to refinance in the future or need assistance with your loan, our team is here to help.

At Las Vegas Mortgage, we are committed to providing personalized service and expert guidance throughout the entire mortgage process. Contact us today to get started on your journey to homeownership!

Frequently Asked Questions

1. What types of mortgage loans do you offer?

At Las Vegas Mortgage, we offer a wide range of mortgage loan programs, including FHA, conventional, VA, USDA, ITIN, private money, 1099, DSCR, SBA 504 & 7(a), reverse mortgages, and more. Our experienced loan officers will help you choose the best loan option for your needs.

2. What is the difference between a fixed-rate and an adjustable-rate mortgage?

A fixed-rate mortgage has an interest rate that remains the same throughout the life of the loan, providing consistent monthly payments. An adjustable-rate mortgage (ARM) has an interest rate that can change periodically, usually based on an index, which may result in lower initial rates but can fluctuate over time.

3. How do I get pre-approved for a mortgage?

To get pre-approved, you can start by filling out our online application or contacting one of our loan officers. You will need to provide financial information, such as your income, assets, debts, and credit history. Pre-approval gives you a clear understanding of your budget and strengthens your offer when buying a home.

4. What credit score do I need to qualify for a mortgage?

The required credit score varies depending on the type of loan. For example, FHA loans typically require a minimum score of 580, while conventional loans may require a score of 620 or higher. However, we offer specialized programs, like ITIN and private money loans, that may have more flexible credit requirements.

5. What is the minimum down payment required for a mortgage?

The minimum down payment depends on the loan type. For instance, FHA loans require as little as 3.5%, while conventional loans may require 5% or more. VA and USDA loans often offer 100% financing, meaning no down payment is required for eligible borrowers.

6. What are closing costs, and how much should I expect to pay?

Closing costs are fees associated with the processing and finalization of your mortgage. They typically range from 2% to 5% of the loan amount and can include appraisal fees, title insurance, origination fees, and more. We provide a detailed estimate of these costs early in the process to help you plan accordingly.

7. Can I refinance my existing mortgage?

Yes, refinancing your mortgage can be a great way to lower your interest rate, reduce monthly payments, or access your home’s equity. We offer various refinancing options, including rate-and-term refinancing and cash-out refinancing. Contact us to discuss your refinancing goals and find the best option for you.

8. What documents do I need to apply for a mortgage?

The required documents include proof of income (pay stubs, tax returns), bank statements, identification, credit history, and details of any debts or assets. The specific documentation may vary depending on the loan type and your financial situation.

9. How long does the mortgage approval process take?

The mortgage approval process typically takes 30 to 45 days, depending on the complexity of the loan and the efficiency of the documentation provided. Our team works diligently to ensure a smooth and timely process, keeping you informed every step of the way.

10. Can I still get a mortgage if I have a unique financial situation?

Yes, we offer specialized loan programs, such as 1099 loans for independent contractors, DSCR loans for investors, and ITIN loans for non-U.S. citizens. Our experienced loan officers are skilled at finding solutions for unique financial situations. Contact us to discuss your circumstances and explore your options.