Mortgage Blog | News and Tips- Valley West Mortgage

22 Nov

Loan Basics

By Valley West Mortgage 15 Year Conventional, 30 Year Conventional, Community, Did You Know, Home Loans, Mortgage LenderNo Comments 0

What is a Loan? An amount that you borrow and agree to repay under specific terms. Usually a formal agreement, loans involve two parties: the borrower and the lender. The contract specifies the terms and conditions of the loan, and once you sign, you are legally obligated to adhere to it. Before pursuing and taking out a loan, learn how they work and how you can borrow smartly, safely and at the lowest possible cost.

28 Sep

The History of Modern Mortgages

By Valley West Mortgage CommunityNo Comments 0

In today’s economy, we know a mortgage as a financial agreement made between a borrower and a bank to purchase a home. Houses typically cost more than a person can pay for out of pocket and/or all at once. Since banking institutions have the means to make large purchases, they can give you a loan for the house you wish to buy and allow you to pay them back over time. So, the mortgage agreement

24 Sep

How Prepared Are You?

By Valley West Mortgage 15 Year Conventional, 30 Year Conventional, Community, Did You Know, FHA 15 Year Fixed, FHA 30 Year Fixed, Home Loans, Housing MarketNo Comments 0

Buying a home can be a challenging experience for first-timers. Here are some mortgage tips to help get you started. Start saving for a down payment early It’s quite common to put 20% down, but many lenders will now permit a much lesser percentage, and first-time buyers programs allow as little as 3% down. Putting down less than 20% could mean higher costs and paying for mortgage insurance, even a small down payment amount can

20 Sep

Don’t Be Overwhelmed With Paperwork

By Valley West Mortgage Community, Did You Know, Las Vegas Mortgages, Mortgage LenderNo Comments 0

We know with any purchase process gathering all of the necessary documents can be quite hassle even for the most organized. All lenders want and need detailed information about your finances to determine if you quality for a home loan. We’ve provided a basic list that can help assist with this daunting task. Keep in mind each situation is uniquely different so if you don’t know what you need ask your lender. Proof of income

08 Sep

Might Miss A Payment(s)?

By Valley West Mortgage Did You Know, Home Loans, Las Vegas Mortgages, Uncategorized2 Comments 0

We all know things happen that are out of our control. An unexpected medical bill or a car emergency. These types of situations can throw off your whole budget and cause you to worry about missing a mortgage payment or several payments. Do you know what to do? Contact Your Mortgage Servicer Always be prepared to tell the why you can’t make your monthly payments and whether or not this is temporary or permanent and

01 Sep

What is Debt To Income

By Valley West Mortgage Did You Know, Home Loans, Mortgage Rates, Recent News, Refinance LoansNo Comments 1

Your debt to income ratio or DTI, is a figure that allows a lender to analyze your monthly spending habits. They use your DTI to determine how you manage your money. You want your debt to income to be as low as possible to ensure that your chances of being offered a lower rate is better. How much debt do you have this month? Think about all of the bills you have to pay for

20 Aug

Preparing for Your First Mortgage

By Valley West Mortgage Did You Know, Featured Posts, Home Loans, Mortgage Rates, Refinance LoansNo Comments 0

Buying a house is not something you should do without some good financial knowledge and advice. Your first mortgage should be thoroughly thought out and well planned. Now that you’re thinking of purchasing a home, use the next 12-18 months or so to prepare yourself. Prepare Your Credit Early Houses are not cheap. In order to pay for one, you’ll have to get a home loan and pay it off in monthly installments. How much

12 Jul

Before You Make That Investment

By Valley West Mortgage Home Loans, Home Tips, Housing Market, Interest Rates1 Comment 0

Purchasing a home is a major milestone that on many people’s to-do-lists. You can take control of your home-buying process by understanding what it takes to purchase a home and what you should be asking. Buying a home can be exciting but, it also can lead to some regret home-buying mistakes and with the housing prices gong up the added stress can confuse the process. Let’s look at some ways to prepare yourself of your

05 Jul

Military Veteran Benefits in Nevada

By Valley West Mortgage Community, Did You Know, Featured Posts, Military LoansNo Comments 0

Just over a quarter of a million veterans live in Nevada as of 2018 and we’ve got a list of major benefits that you may not know about that includes a veteran home in Boulder City. VA Home Loans We offer A $0 down payment mortgage option available to Veterans, Service Members and select military spouses. These loans are guaranteed by the U.S Department of Veteran Affairs. Contact Us Today! (702) 696-9900 Our experienced

29 Apr

Non- Occupant Borrower

By Valley West Mortgage Community, Did You KnowNo Comments 0

Income flexibility help to meet the diverse needs of today’s home buyers by expanding access to creditworthy, low- to moderate-income borrowers. The non-occupant borrower income flexibility allows a parent, or anyone else willing and financially able, to be a borrower on the loan. Example: A millennial couple is buying their first home, and his mother would like to help. She is willing and able to be a borrower on the mortgage loan, but she will