Buyer Resources

Las Vegas Home Buyers FAQ's

Buying a home isn’t easy! There are so many details to remember and things to consider throughout every step of the lengthy process—it can be hard not to feel overwhelmed, even if you’ve bought and sold houses before. If you’re buying a home in Las Vegas, then this handy FAQ guide is the perfect place to start to ensure all your questions are cleared up and you’re on your way down the road to home-buying success!

I’ve never bought a home before. Where should I start?

If you’re new to Las Vegas—or if you’re relocating to a new part of town—you might want to start with learning a little more about the city and its many neighborhoods and communities. Another good place to start might be with reviewing your finances and taking a look at our mortgage calculator to determine your most comfortable price range.

How do I go about choosing a home?

This differs with every home buyer. Many, especially more experienced buyers, know exactly what features they’ll need. Others might not be so sure. Take some time to decide what factors are important to you—size and style, location, amenities, school districts, particular interior features—and make a list of essential criteria. You can also start searching featured listings or use a home search tool to narrow down homes in your ideal Las Vegas location.

Should I use a Realtor?

Unless you’re a seasoned real estate professional, the answer is most definitely yes! An expert Las Vegas Realtor can not only guide you through the home-buying process and ensure no details go overlooked, they can help you make important financial and home-buying decisions that ensure you’re getting the best deal AND the home you really want and need.

How should I get a loan?

You can either shop around for mortgages on your own, through banks, credit unions, private companies, or government lenders, or you can work with a Realtor or mortgage broker to compare rates. Whichever route you choose to go, make sure you spend some time shopping around and comparing rates to make sure you’re getting the best deal.

What types of mortgages should I consider?

There are two main types of mortgages, as far as interest rates are concerned. The first is the fixed-rate mortgage. The interest rate on this mortgage will not change, meaning your monthly payments will be very consistent and predictable. The second type is the adjustable-rate mortgage. These do not have a set interest rate, meaning the rate can fluctuate along with the market. They are often lower initially, but can climb and are not predictable.

What’s included in a mortgage payment?

The mortgage payment is broken down into four main categories. The first is the principle, which is essentially the cost of your home. Next, there is interest. This is a percentage of the principle paid to the lender. Property taxes are also typically included in your mortgage payment, as are payments for homeowner’s insurance.

What will I have to pay upfront?

The first payment you will have to make is called earnest money, and it’s essentially a “security deposit” given to the seller at the time you submit your offer to show that you are serious. Next is the down payment, the amount of which will depend on your mortgage and overall cost of your home. Finally, there are closing costs, which for buyers typically consist of fees associated with paperwork.

What if I have no down payment or bad credit?

There are many government assistance programs tailored to helping those in need and first-time buyers afford homes. The Federal Housing Administration (FHA) offers insured loans to make lenders more willing to work with buyers with lower credit. The Department of Housing and Urban Development (HUD) offers many additional assitance programs.

Where can I find more resources?

As your Las Vegas home-buying experts, we’ve compiled everything you need! Learn more about home buying in Las Vegas, or discover life in this dazzling desert city of big opportunities. Start searching homes for sale, or just contact us to get started!


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