Find the Best Mortgage Lenders in Las Vegas, NV

How to choose a mortgage lender in Las Vegas

Home prices are rising. Construction is booming. Infrastructure is improving. People are moving to Las Vegas in droves. The metropolitan area offers a wide variety of neighborhoods to meet every need.

Many families are drawn to the suburbs and master-planned communities like Skye Canyon and Summerlin, where family-friendly neighborhoods are planned around schools, parks and trails. Both communities have ranked as some of the fastest-selling master-planned communities in the country. Creatives seeking culture and community are flocking to fixer-uppers in the Arts District or Huntridge, where they can be at the heart of the action. Even those who long for open space and the small-town vibe of old Vegas can find ranch-style homes or open land in the underdeveloped southwest part of the valley.

Median home values in Clark County

Source: Zillow Home Value Index

Regardless of where in the valley you’d like to live, odds are you’ll need a mortgage lender in Las Vegas to help you get there. With home values rising at a higher rate than wages, qualifying for a new home can be tricky — especially for first-time buyers without existing equity to put toward a down payment. Mortgage lenders can help you determine what type of mortgage loans or specialty programs you qualify for and which is the best option to pursue. Choices may include:

• Conventional loans: These loans, uninsured by the federal government, are the most popular type of mortgages for homebuyers.
• FHA loans: Insured by the Federal Housing Administration, these loans are for people with low or moderate incomes who can’t afford a substantial down payment.
• VA loans: Guaranteed by the U.S. Department of Veterans Affairs, these loans help veterans and service members become homeowners.
• USDA loans: Sponsored by U.S. Department of Agriculture, these zero-down loans are for houses in sparsely populated locations.
• Jumbo loans: These loans are for higher-priced homes.

When considering different mortgage lenders, don’t be afraid to ask questions about how a company will communicate with you, how long the application process takes, what lender fees you’ll have to pay and what are the down payment requirements. Of course, interest rates are also important — the lower, the better.

Before you make your final decision, apply with several different lenders and compare Loan Estimates to get an idea of the total costs you’ll be paying for your mortgage.