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Las Vegas Down Payment Assistance going away earlier than expected

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   

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This entry was posted on Saturday, August 23rd, 2008 at 3:40 pm and is filed under Financing, Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2 Responses to “Las Vegas Down Payment Assistance going away earlier than expected”

  1. Tammy Winner Says:
    August 26th, 2008 at 3:37 pm

    Down Payment Assistance? I wish we had that here in Myrtle Beach. It would come in very handy in this market.

  2. Garrett Says:
    September 3rd, 2008 at 3:00 pm

    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.

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