Written By: Mark Madsen Las Vegas Home Loans
Down payment assistance for potential Las Vegas home buyers may be going away sooner than most people are anticipating.
While somewhere in October is the official date that seller-funded down payment assistance, including the popular Nehemiah program, becomes obsolete, many wholesale lenders have already stopped approving mortgages tied to these programs.
I would suggest that potential home buyers get their complete files into underwriting as soon as possible. Some banks are allowing approved loans, even on a To Be Determined property, to slip through the cracks and last a little longer.
Mark Madsen | 702-496-5626 | mark_madsen@frostmortgage.com
{ 2 comments… read them below or add one }
Down Payment Assistance? I wish we had that here in Myrtle Beach. It would come in very handy in this market.
I really hope everyone takes advantage of Down Payment Assistance. I just finish purchasing a home through Nehemiah a downpayment assistance program. Maybe Tammy might want to try them, they say they are nation wide. This can really help any homebuyer that needs help with downpayment or closing cost assistance.