Being a Mortgage Banker can be stressful at times, but what makes this job worth while is helping first time home buyers in Las Vegas, Nevada getting into their new home. First time home buyers are from diverse cultures and income, but they share one common characteristic. The joy of accomplishment when the get their keys to their very own home.
When the first time home buyer starts the process of getting pre approved they are unsure of the process. I counsel them on the 7 stages of the lending process, so that they have a strong understanding of how the loan process from start to finish. It is my job to inform and educate the first time home buyers, and when they leave my office they feel comfortable knowing they are in good hands.
While no transaction is completely smooth from start to finish, with so many players involved in the transaction, it is the loan officer and his team that has to pull everything together. First time home buyers put their trust in the Real Estate agent they selected and the agent trust is with the loan officer that they work with.
Most of the first time home buyers that I have had the pleasure to work with have told me they never felt they would ever be able to buy a home. With the home prices falling to more affordable levels from the past highs, modest income first time home buyers can now afford the mortgage payment. The housing affordability has made a window of opportunity first time home buyers to stop flushing their money on rent, and instead pay for a mortgage at the same price or lower.
While FHA is the product of choice for most first time home buyers, the FHA product has easier qualifying ratio and lower down payment then conventional loans, there is another government loan program that is even better then FHA. The VA loan program for Veterans requires no down payment, and the government backs the loan. For first time home buyers Veterans that have incurred a service related disability does not have to pay for the VA funding fee if the disability is 10% or greater.
John Le Francois
Direct Access Lending
650 White Dr Suite 200
Las Vegas, NV. 89119