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Andrew Leavitt -Sales Manager NMLS#918821 New Heights Lending Corporate NMLS#1160570 6555 W Sahara Suite A108 LV,NV 89146

FHA Loans

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FHA loans, or Federal Housing Administration loans are loans that are backed by the US Department of Housing and Urban Development.  Because they are backed by the federal government, they make it easier to get a loan for those that may have otherwise had trouble getting one.  Our certified Las Vegas FHA loan services can help those with lower credit scores or other financial troubles get the loan they need to get into their new home.  We evaluate the candidate’s eligibility based on the loan requirements, as well as help them get lower mortgage rates within the current FHA loan limits in Las Vegas.

FHA Approved Lender Services
As an FHA approved lender, we help clients get the FHA loan and mortgage rates that best suit their borrowing needs.  For those just starting their credit history, FHA loans are a great way for Las Vegas first time home buyers to get the financial backing they need.  These types of loans are particularly useful for clients that are struggling with a credit score, a lack of credit history or other debt issues.  We also aid in filling out all applications to make the process as simple as possible.   Our experts find the type of FHA loan that works best for the client no matter the circumstances.

FHA Loan Requirements
The FHA loan requirements in Las Vegas can be tricky to navigate, which is why our mortgage lenders help clients figure out if this is the right loan for them.  FHA loans in Las Vegas generally appeal to clients with credit scores in the five-hundred range.  Applicants need a verifiable income and credit history check, which shows whether or not they’ll be able to afford monthly payments in additional to any existing debt.  The loan also needs to fit within FHA loan limits in Las Vegas.  Once approved, there’s a 3.5% necessary down payment as well as the need for private mortgage insurance.

FHA Mortgage Rates
One of the best benefits of government backed FHA mortgage rates is that they’re generally lower than those of a conventional loan.  The required down payments is lower as well, and may even consist of lower interest rates.  The FHA loan rates in Las Vegas change depending on standards set by various government loan agencies.  Our experts are here to help clients understand those rates, as well as predict market changes to help clients find the best time and plan for financing.  The current FHA mortgage rates in Las Vegas can also be used to refinance a home to get a better rate than a conventional or VA loan.

FHA Loan Limits
When borrowing with FHA loans, there is a maximum mortgage limit available to applicants. That’s not to say the home can’t be financed, it just needs to be supplemented with a larger down payment.  FHA loan limits vary by state and county, which his why our Las Vegas mortgage lenders are the right team for your local home purchase.  The good news is, limits are currently increased nationwide, which means this is a great time to look into financing or refinancing a home.   Our team always stays on top of the FHA loan limits in Clark County, Nevada to ensure clients are getting up to date information when it comes to FHA loans.