Home prices in the Las Vegas metropolitan are rising and expected to continue to increase. From brand new single-family homes in Providence to luxury mid-rise condos in Fremont East, people are anxious to buy before they are priced out. Our partners at ConsumerAffairs reviewed the best mortgage lenders in Las Vegas to help you find the right financial partner to buy your new home.
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
City / Township
Median home value
North Las Vegas
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.
AmeriSave has been in the industry since 2002. It offers a variety of loan types and programs, including fixed rate, adjustable rate, FHA and VA loans. About half of all customers close loans in about 25 days. Reviewers in Las Vegas enjoyed the online experience offered by the company, which they say made it easy to get through the application process.
HomeDirect Mortgage’s automated online system, called HomeNow, guides you through the process from application to closing, giving you a direct line of communication with your loan officer. Prospective customers can find a number of useful calculators on HomeDirect Mortgage’s website for guidance. Las Vegas reviewers have nothing but good things to say about HomeDirect Mortgage, praising the application process and advice from loan officers.
Superior Mortgage Lending
Superior Mortgage Lending is a Las Vegas-based broker that has been in the industry for 18 years. Customers can apply for conventional, FHA, VA, and jumbo loans. Reviewers in Las Vegas loved the customer service provided by a smaller company, and they felt the team was experienced and knowledgeable about financing options.
One Nevada Credit Union
One Nevada Credit Union, based in Las Vegas, offers multiple programs for homebuyers, like VA, FHA and conventional financing. Customers can save an average of $4,000 on home loans with the company, One Nevada Credit Union says. Reviewers routinely praise the credit union for its friendly customer service, variety of mortgage loan options and low interest rates.