Nevada Loans and Mortgage Offerings

What Are They?

A conventional mortgage simply refers to any mortgage loan that is not insured or guaranteed by the government. Conventional loans can be either fixed or adjustable-rate mortgages and may be either conforming or non-conforming. Conforming simply means that the loan meets the guidelines or standards set forth by Fannie Mae and Freddie Mac.

Loan Amounts & Conforming

One major factor that determines whether a loan is conforming or not is the loan amount. Typically, conventional loans have higher down payment and credit score requirements than government loans; at least five percent down payment is required and in most cases, a credit score of at least 620 is necessary for approval.

Mortgage Insurance

Mortgage insurance is not required per conventional guidelines unless the borrower has less than 20 percent equity in the home. The borrower may start off with less equity and mortgage insurance, and refinance to get rid of the mortgage insurance when they reach 20 percent equity or greater.

The Refinancing Experts

To put it simply, refinancing is the act of getting a new mortgage to replace the original. Refinancing is done for a homeowner looking for a more favorable interest term and rate. Though it sounds simple, refinancing can be a tricky process fraught with potential for missteps. If you are looking to refinance your mortgage, the experts at Attorneys Funding Group can help you do it the right way.

Let Experience Take Charge

There are many nuances to the refinancing process. When the particulars of such an important part of your life are being decided, why leave the process to amateurs? Our years of experience can protect you from an unfavorable refinancing, ensuring you are able to enjoy your home for many years to come.

Some Things to Watch Out For

Planning to go for a home mortgage refinance? Before you do, it is important to know some of the many problems associated with the process. With the huge spate in the growth of mortgage providers, it’s essential to prevent such refinancing problems from happening to you.

There are the honest lenders and then there are the unscrupulous bad ones. While the prospect of owning your home may prompt you to make timely and accurate payments toward the home mortgage refinance payment, even the lender will try to keep your current mortgage strong enough. After all, he wouldn’t want to lose out on your money.

Nothing in life is certain– employment conditions change, your place of stay may change unexpectedly and you may have the bad luck to be dealing with a dishonest lender out to get your hard-earned money.

Many people face this problem, especially when they are suddenly out of work or have been laid off. This can significantly impact the payment toward your home mortgage refinance. If you find yourself in this situation, it becomes very difficult to get out of this vicious cycle.

Taking a Look at the Future

One of the best things you can do in order to avoid this situation is to assess if you either have a secure job or whether you have set aside sufficient funds for crisis situations in the future. Therefore, it’s best to go for a home mortgage refinance only when you are absolutely sure that your job is secure enough to support you for a long time. After all, mortgage payments are typically made over several years. Settle for a home mortgage refinance only when you’re sure of these conditions.

Growing Your Money

At NV Mortgage Brokers, we provide a range of comprehensive investment loan services, helping you secure that investment to grow your capital. With help from our professionals, you can take advantage of the market and secure your financial future.

Using a 1031 Exchange

A 1031 exchange is a complicated tax operation that defers capital gain taxes by allowing an investor to reinvest the proceeds from the sale of a property sale directly into another property, bypassing any taxes that would usually occur between those transactions.

Is 1031 Right For You?

Mortgage insurance is not required per conventional guidelines unless the borrower has less than 20 percent equity in the home. The borrower may start off with less equity and mortgage insurance, and refinance to get rid of the mortgage insurance when they reach 20 percent equity or greater.

What Exactly Are They?

A reverse mortgage is a loan that allows homeowners over 62 years of age to convert some of the equity in their home into cash. Reverse mortgages are used to help retirees with limited income access the wealth they have accumulated in their home.
We urge those interested to reach ou to us about these programs.

Realizing The Benefit

The money from a reverse mortgage can be distributed in several different ways. Either in a fixed-rate lump sum, a line of credit, monthly “tenure” payments, or monthly “term” payments. Although the rising loan balance can eventually grow to exceed the value of the home, the borrower is generally not required to repay any additional loan balance in excess of the value of the home.

We Want To Help

Reverse Mortgages can be a great benefit if an individual’s circumstances warrant it. However, reverse mortgages can also be risky and oftentimes require professional guidance. At Attorneys Funding Group, we pride ourselves on offering quality service to those considering a reverse mortgage and work to ensure their long-term stability. If you have questions, give one of our offices a call today.

Because You Earned It

After serving in the armed forces, you or your spouse are eligible for a loan guaranteed by the Department of Veterans Affairs. At, NV Mortgage Brokers, we are forever thankful for the service of our nation's veterans. Let our experience with VA loans go to work for you.

Benefits of VA Loans

VA loans provide veterans and/or their surviving spouses with a federally insured mortgage, as long as they meet some basic guidelines based on duration and type of military service. A major advantages include no down payment, no minimum credit score requirements, no required mortgage insurance and no maximum loan amount, aside from the county loan limits.

Low Rates & Fast Processing

VA loans can be either fixed or adjustable-rate mortgages, and an Interest Rate Reduction Refinance Loan (IRRRL) is a great hassle-free option for borrowers who are already participating in the VA loan program. Additionally, usually no appraisal or credit underwriting is required, making the process quicker and easier than a conventional refinance.

Deciding on a FHA Loan

Buying your first home? Looking for a home loan with low down payments and closing costs? An FHA loan may be right for you. At Attorneys Funding Group, we bring our expertise to the negotiating table to get the FHA loan that fits your particular needs.

What Sets FHA Loans Apart?

FHA loans are insured by the government, and can be issued by any FHA approved lender in the U.S. This protects lenders from defaulted loans and makes it possible to offer prospective borrowers more affordable interest rates on loans that were considered riskier before FHA loans were established.

Benefits of FHA Loans

FHA Loans allow for low closing costs, smaller down payment requirements and more relaxed credit qualifying guidelines. FHA loans require at least a 3.5 percent down payment. In some cases, borrowers may use gift funds for 100 percent of their down payment amount,