Down Payment Assistance

Benefits of Down Payment Assistance

101.5% CLTV (Combined Loan-to-Value): Our DPA program offers a combined loan-to-value ratio of up to 101.5%, which includes a 96.5% first mortgage and a 5% DPA. This allows you to cover the entire purchase price and some closing costs, minimizing your out-of-pocket expenses.

Reduced Upfront Costs: Down payment assistance programs help cover the down payment and potentially closing costs, reducing the amount of money you need to save upfront. This can make purchasing a home more accessible, especially for first-time buyers or those with limited savings.

Opportunity for Homeownership: DPA programs provide an opportunity for individuals and families who may otherwise struggle to afford a home to achieve homeownership. This can be a significant step towards building wealth and financial security.

No Repayment Required for Some Programs: Some DPA programs, particularly grants, do not require repayment if certain conditions are met, such as living in the home for a specified period. This can effectively lower the overall cost of homeownership.

WHY CHOOSE US

What We Offer To You

Welcome to Las Vegas Mortgage, where we specialize in helping homebuyers achieve their dream of homeownership through our Down Payment Assistance (DPA) programs. Whether you're a first-time buyer or looking to purchase a new primary residence, our DPA options provide valuable support to make homeownership more accessible and affordable.

Expertise in DPA Programs

With extensive experience in down payment assistance programs, we have the knowledge and expertise to help you navigate the requirements and secure the financing you need.

Personalized Service

At Las Vegas Mortgage, we take the time to understand your investment goals and financial situation. Whether you're purchasing a new property or refinancing an existing one, I provide customized loan options that align with your objectives.

Comprehensive Support

Our team of experienced loan officers is here to guide you through every step of the home buying process. We provide comprehensive support, from initial consultation to closing, ensuring you have all the information and resources you need.

Client-Centered Approach

Your success is our priority. We are dedicated to providing transparent, honest, and responsive service throughout the entire loan process, ensuring you have the support and information you need to make informed investment decisions.

Local Expertise

As a locally-based mortgage company, we have a deep understanding of the Las Vegas real estate market. Our insights and connections enable us to offer you valuable advice and assistance, whether you're buying a home in the city or the surrounding areas

Comprehensive Loan Options

We offer a wide range of mortgage products, including FHA, VA, conventional, and jumbo loans. This diverse selection allows us to tailor our offerings to meet your specific financial needs and goals, ensuring you get the most suitable loan product for your situation.

Mortgage Pre-Approval

Secure your financing before you start shopping. Our pre-approval process is quick and easy, giving you a clear understanding of your budget and making you a more attractive buyer. Start your journey with confidence!

House Shopping

Explore a wide range of properties that fit your needs and lifestyle. Whether you're looking for your first home, a vacation retreat, or an investment property, our team is here to guide you through the search and help you find the ideal match.

Loan Application

Complete your mortgage application with our streamlined and user-friendly process. Our experienced loan officers will assist you every step of the way, ensuring all your questions are answered and your application is processed smoothly. Let us help you make your homeownership dreams a reality!

WHAT’S THE BEST

Mortgage Programs

At Las Vegas Mortgage, we offer a variety of mortgage programs tailored to meet your unique financial situation and goals. Whether you're a first-time homebuyer, a seasoned investor, or somewhere in between, we have the perfect loan solution for you.

Specific Programs

FHA Loans: Ideal for those with lower credit scores or limited down payment funds.
Conventional Loans: Flexible options with competitive rates for a range of borrowers.
USDA Loans: Great for rural property buyers, offering zero down payment.
VA Loans: Exclusive benefits for veterans and active-duty military members.
DSCR Loans: Perfect for real estate investors focusing on cash flow properties.
Bank Statement Loans: Designed for self-employed borrowers who need to show income differently.
ITIN Loans: Accessible options for those without a Social Security number.
Foreign National Loans: Financing solutions for non-U.S. citizens.
Fix and Flip Loans: Short-term financing for property renovation and resale.
Cannabis Industry Loans: Tailored loan options for professionals in the cannabis sector.
1099 Loans: Options for independent contractors and freelancers with 1099 income.
Private Money Loans: Quick and flexible funding for unique situations or investments.

OUR TEAM

Our Staff Profiles

KeVIN SCHANDA

SENIOR MORTGAGE ADVISOR

NMLS 93971

JONATHAN FESSER

MORTGAGE ADIVSOR

NMLS 2225687

BONNIE CLOCKEL

MORTGAGE ADVISOR

NMLS 1906508

Frequently Asked Questions

What is Down Payment Assistance (DPA)?

Down Payment Assistance (DPA) programs are designed to help homebuyers cover the cost of their down payment and sometimes closing costs. These programs can come in the form of grants, low-interest loans, or forgivable loans, making it easier for buyers to afford a home.

Do I Have to Repay Down Payment Assistance?

It depends on the type of DPA program. Grants typically do not need to be repaid. Some programs offer forgivable loans, which do not require repayment if certain conditions are met, such as staying in the home for a specified period. Other DPA options, like low-interest loans, may need to be repaid over time.

Who Can Benefit from a DSCR Loan?

DSCR loans are beneficial for real estate investors who own rental properties, multi-family units, or commercial properties. These loans are ideal for borrowers who may not have sufficient personal income documentation or who prefer to qualify based on the property's cash flow rather than personal income. They are also suitable for investors looking to expand their portfolios without impacting their personal credit.

How Much Down Payment Assistance Can I Receive?

The amount of down payment assistance varies by program. It can be a set amount or a percentage of the purchase price. For example, some programs offer assistance equal to a specific percentage of the home's purchase price, such as 5%. The exact amount you can receive depends on the program's guidelines and your qualifications.

How Do I Apply for Down Payment Assistance?

To apply for down payment assistance, you'll typically need to work with a participating lender or housing agency that offers the program. The application process usually involves providing documentation of your income, assets, credit history, and other relevant information. It's advisable to start the process early to ensure you meet all requirements and deadlines.