July 4th Fireworks 2014 in Las Vegas

Fourth of July Fireworks and Events 2014 in Las Vegas

Fireworks

Fun on the 4th at the Stratosphere6 p.m. - 10 p.m.
Tickets from $10
Stratosphere on the Strip

Stratosphere Casino, Hotel & Tower’s Fun on the Fourth extravaganza will offer something special for both adults and families. Adults will enjoy a festive evening at Stratosphere’s 8 Pool, featuring a live concert by Zowie Bowie. Food & drink specials will be sold at the 8 Pool Café/Bar, plus a limited number of special cabana packages are available. The celebration will be punctuated by a fireworks display by Grucci. Tickets are $10 per person and the party starts at 6 p.m. Adults can also enjoy the fireworks from the Level 107 Lounge. Dance to the sounds of DJ Shy and live band Treasure from 11 p.m.- 4 a.m. Early Happy Hour will feature half price appetizers and 2-for-1 cocktails from 4 p.m. - 7 p.m., and then Late Happy Hour at Level 107 will also offer half price appetizers from 10:30 p.m. -1 a.m. and 2-for-1 cocktails from 1 a.m. – 4 a.m. Families with children can watch fireworks from the tower with a beautiful view of the entire valley. From 6 – 10 p.m., tower admission to Levels 108 and 109 will be $28 for the general public and $10 for Stratosphere hotel guests.

Fireworks at The Linq/High Roller9 p.m.
Tickets from $49.50

The Linq
High Roller riders will be able to view two fireworks displays starting at approximately 9 p.m. at Caesars Palace and 9:30 p.m. at the High Roller lot. Take in the view of the Las Vegas skyline as the city celebrates the 4th of July. Premium holiday priced cabins will board from 8:30 to 9:30 p.m., general admission and special packages for the 30-minute ride include:

• $49.95 per person – general admission tickets with complimentary beverage during 8:30 to 9:30p.m. premium holiday skyline viewing window.
• $2,500 - private personal cabin during 8:30 to 9:30p.m. premium holiday skyline viewing window with open bar for up to 25 people inclusive of tax and fees.

Fireworks at Mandalay Beach8 p.m.
Tickets from $20
Mandalay Bay

The sky above Mandalay Bay Beach will light up red, white and blue this Independence Day with a dazzling display of fireworks and a musical performance by the local classic rock band Phoenix. Guests of all ages can dig their feet into the sand or let the waves wash over them while enjoying the extravaganza Friday, July 4. Doors open at 8 p.m. Tickets priced at $20 and family four-packs priced at $60, not including applicable service charges and taxes.

Primm Valley FireworksFree
Primm Valley Casino Resorts, Primm, Nev.

Primm Valley Casino Resorts will be celebrating Independence Day with a spectacular fireworks show. Starting at dusk, the night sky will be lit with the vibrant colors from the display. The sixth annual show will be set against the desert scenery and away from the city lights allowing viewers an extravagant show. Families are encouraged to arrive early for prime parking spots and fun at the resorts. The best viewing location for guests is located in the Star of the Desert Arena parking lot at Buffalo Bill’s Resort & Casino.

4th of July 2014 Nightclub and Pool Club Parties

All-star DJ lineup at Wet RepublicDate: July 4 - 6
Where: MGM Grand
Wet Republic pool club kicks off 4th of July weekend with Afrojack on Friday, July 4. Calvin Harris and Burns take over on Saturday, July 5. The weekend closes with Tiësto July 6.

Other 4th of July 2014 Events and Parties

Weekend Fiesta at Tacos & TequilaDate: July 4 - 6
Where: Luxor
Tacos & Tequila is throwing a weekend-long fiesta for 4th of July. Fiesta goers can satisfy their cravings with the Americano combo including the matador burger or sonoran hot dog, served with chorizo fries and a Coors Light for $15. For the real party animals a 100-ounce frozen flagpole daiquiri is available exclusively for the holiday weekend, priced at $35.

4th of July Barbecue at Park on FremontDate: July 4
Where: 506 E. Fremont St.
Park on Fremont will host a barbecue from 11 a.m. to close on Friday, July 4. Priced at $8 per person, guests can choose from mouthwatering hickory smoked bites from the grill, including succulent wings, ribs, pulled pork or a juicy rib-eye dip, all basted in Park’s signature smoky chipotle barbecue sauce. Each main dish will come with the choice of a side, including corn on the cob, savory baked beans, creamy potato salad or juicy watermelon. The barbecue will also feature the Watermelon Cooler, a summer cocktail with Veev Acai Berry Liqueur, fresh lime and watermelon.

Cocktail and Burger Specials at TreviDate: July 3 - 6
Where: The Forum Shops at Caesars
Trevi Italian Restaurant inside The Forum Shops at Caesars will toast America by offering an Italian Stuffed Burger and a Red, White and Boom cocktail available July 3 - 6. The burger is loaded with gorgonzola and fontina cheeses and topped with red and yellow tomatoes and is priced at $12.95.The patriotic Red, White and Boom cocktail, priced at $7.99, is a sweet strawberry margarita made with triple sec, tequila, Blue Caracao, sweet and sour mix, fresh strawberries and lime.

UFC International Fight Week at Fremont Street ExperienceDate: July 1 - 6
Where: Fremont Street Experience
Celebrate Fourth of July underneath the Viva Vision canopy with UFC International Fight Week and Fremont Street Experience’s Rock of Vegas summer concert series featuring rockers Papa Roach, P.O.D. and Lit. Downtown Las Vegas gets in on the UFC International Fight Week action as several events including an Ulti-man 5k run, meet-and-greets and autograph signings with UFC fighters and Octagon Girls and a special concert take over Fremont Street Experience.

The weeklong celebration culminates with two fight cards that weekend in Las Vegas – UFC 175, presented by Bud Light on Sat., July 5 and The Ultimate Fighter Finale: Team Edgar vs. Team Penn on Sun., July 6 both at Mandalay Bay Events Center.

Patriotic Mojitos at RhumbarDate: July 4 - 6
Where: The Mirage
Rhumbar will celebrate Fourth of July with red, white and blue mojitos all weekend from Friday, July 4, through Sunday, July 6. Each patriotic mojito is handcrafted with a unique flavor profile and priced at $12 each. The red blends Montecristo Platinum rum, raspberry demerara sugar, St. Germain, lemon juice and mint. The white is a concoction of Montecristo Platinum rum, Thai coconut honey syrup and fresh lime juice and the blue combines Montecristo Platinum rum, Velvet Falernum, spiced blueberry demerara sugar, fresh lime and mint. In addition to the triad of mojitos, revelers can enjoy the “Chonga,” a 32-ounce margarita with two upside-down, 7-ounce Sol beers, priced at $18. Happy hour specials will be available for guests who arrive between 1 to 6 p.m. including $5 rum punch cocktails and Coors Light bottles, $18 Coors Light buckets and $8 house selection cigars. Rhumbar's resident DJ will spin music from 4 p.m. to close

Red, White and Booze at ETA LoungeDate: July 4
Where: Aliante
Aliante Casino + Hotel + Spa will let freedom ring this Independence Day with a Red, White and Booze party from 7 p.m. to 2 a.m. on Friday, July 4, inside ETA Lounge. Guests will enjoy a live DJ and star-spangled go-go dancers from 9 p.m. until 2 a.m. Beverage specials will be offered from 7 p.m. to 2 a.m. including $5 American Whiskey shots, made with Jack Daniels, Makers Mark or Jim Beam; and $5 Hot Apple Pie shots, a combination of Absolut Vanilla, Fireball Cinnamon Whiskey and Sour Apple mix. Bud Light and Coors Light beer buckets will also be available for $20. Complimentary Coors Light T-shirts and bottle openers, along with other patriotic swag, will be given away throughout the night.

Fourth of July at PBR Rock BarDate: July 1 - 6
Where: Planet Hollywood
PBR Rock Bar will celebrate Independence Day by serving as the official party host to the 2014 UFC International Fight Week from Tuesday, July 1, through Sunday, July 6. UFC 175 fans can watch Weidman vs. Machida at 7 p.m. on Saturday, July 5, inside Rockbar, where the fight will be shown on nearly 50 high-definition televisions and two projector screens. Guests can either purchase admission to the Rockbar viewing party, priced at $25 per person; or purchase a Rockbar UFC package, which includes admission to the viewing party and an all-day open bar, priced at $75 per person.

Fourth of July at M ResortDate: July 4
Where: M Resort
Michael Grimm will kick off a special three-week engagement Friday nights at Ravello Lounge beginning on Friday, July 4. The season five winner of NBC’s America’s Got Talent will perform three one-hour sets with his six-piece band at 9:30 p.m., 11 p.m. and 12:30 a.m. Admission is complimentary to guests with a two-drink minimum purchase. To celebrate Fourth of July, DayDream Pool Club will open with special pool hours from 11 a.m. to 6 p.m. on Friday, July 4. Revelers will dance to music by DJs of Sandstorm Entertainment, partake in America’s newest favorite pastime, beer pong, and sip on ice-cold adult-beverages, like the all-American Ultimate Root Beer Float.

Studio B Buffet will host its Stars and Strips Feast on Friday, July 4, offering a wide selection of all-American favorites. Available for lunch and dinner, guests will enjoy BBQ ribs, smoked beef brisket, grilled kielbasa, fried chicken, red skin potato salad, mac and cheese, coleslaw, grilled asparagus, macaroni salad and more. Served from 11 a.m. to 2:30 p.m., lunch is priced at $15.99 for adults and $11.99 for children ages 5-8. Dinner, which includes additional items like slow-roasted prime rib, crab legs and BBQ chicken, is served from 2:30 until 8 p.m. and priced at $39.99 for adults and $26.99 for children.

Pop & Shop at FizzDate: July 4 - 5
Where: Caesars Palace
Fizz is bringing back its popular “Pop & Shop” champagne and shopping experience, from noon to 4 p.m. on Friday, July 4 and Saturday, July 5 in celebration of Independence Day. Each “Pop & Shop” package is priced at $50 per person and includes a signature Fizz champagne flute with endless refills. Guests will also receive a Fizz gift bag with special offers, discounts and samples from nearby retailers inside The Forum Shops at Caesars. Shoppers can return to Fizz as they please to refill their glasses as they peruse the latest fashions.

Red, White and Blue Shakes at BLT BurgerDate: July 4 - 6
Where: The Mirage
BLT Burger Las Vegas is offering their “Red, White, and Blue” shake exclusively during the holiday weekend. A blueberry pie milkshake topped with whip cream and strawberries, the dessert is a fun way for both kids and adults to show their USA pride. A non-alcoholic version will be available for $7, while those wanting to add a spark to the fireworks can order the Absolut Vanilla version for $9.

4th of July Picnic Dinner at STKDate: July 4 - 6
Where: The Cosmopolitan
Guests who dine at STK Las Vegas July 4 -6 can enjoy an indoor patriotic picnic. For $40, the dinner includes crispy chicken, potato salad and corn on the cob, with vanilla cheesecake with strawberry compote and fresh blueberries ($12) available for dessert. Dinner guests and bar guests will also be able to show their American pride with the red, white and blue “Blaze of Glory” cocktail ($18), hand-crafted with Absolut Elyx and Cranberry Red Bull with blue pop rocks atop the rim of the glass.

4th of July Tips

July 4th is all about the fireworks and if you're visiting Las Vegas for the holiday you'll want to know where to see the displays and where to find other all-American entertainment.

Fireworks locations can vary from year to year but typically you'll find them at several locations around town. The Stations Casinos properties, which are local casinos across the valley, usually have fireworks displays at several of their resorts like Sunset Station and Green Valley Ranch in Henderson and Texas Station and Red Rock Hotel Casino in the north.

Fireworks from hotels on the Strip vary, but in the past they've been shot off from the Stratosphere and Caesars Palace.

If you head downtown, you can see an electronic fireworks display on the Viva Vision canopy above Fremont Street.

The Las Vegas Philharmonic usually performs a 4th of July concert, which was held last year at downtown's Smith Center.

For a more small-town 4th of July experience, try Boulder City's Damboree celebration. There’s a pancake breakfast, games, a parade, and of course, a large fireworks display.

The City of Henderson also holds an annual 4th of July celebration with live music, games, activities and a fireworks show.

For the best view of any fireworks in Las Vegas, visit one of the many bars around town that offer views of the valley. Try Foundation Room at Mandalay Bay, Ghostbar at the Palms or Voodoo Rooftop Nightclub at the Rio. For restaurants with a view, there's Mix at THEhotel at Mandalay Bay, Alize at the Palms or the Eiffel Tower Restaurant at Paris.

Another great attraction that will offer plenty of views of the fireworks is the High Roller observation wheel at The Linq.

Real Estate Agents - Get The Unfair Advantage

Real Estate Agents - Get The Unfair Advantage

Secret weapon: How to attract buyers & sell more listings...

If you're like most of the top-producing Realtors I work
with, you're sick and tired of parasite mortgage brokers
who feel entitled to just to suck you dry of referrals
without providing any REAL UNIQUE VALUE in return.
Can you relate?

As far as I'm concerned, your mortgage pro should
be one of your most valuable assets, who doesn't
just provide "great rates" and "great service" --
that's a minimum expectation -- but provides
killer-effective marketing systems that put more
dollars in your wallet. In short, they should be
your SECRET WEAPON -- an irreplaceable,
indispensable asset on your team.

With that in mind, here's a quick 3-minute video
showing how I help my Realtor Partners attract
more quality listings and sell them faster for
top dollar.

Well, what do you think?
Can you see the value in using a system like this?

I'm looking forward to hearing form you. Cheers!

To your success,

Aundrea Beach-Greco
Mortgage Advisor, CMP, CMPS
NMLS 333739
702-326-7866
info@aundreabeach.com
www.iLendLasVegas.com

Can you use a conventional loan 3 years after foreclosure?  The quick answer is no, but let’s dig a little deeper since Freddie Mac has a program for just that...

Individuals who have lost their home due to a foreclosure may think that meeting the requirements necessary for a new loan may take several years. This is not necessarily true as there are many options for a family or individual to buy a home after a foreclosure has occurred. A few options may already be available with FHA financing, second chance financing or conventional financing.

Credit Report

A foreclosure will stay on an individual’s credit report for seven to ten years. This often means individuals are in a seven year waiting period before they can try again to apply for a mortgage. One interesting aspect is that circumstances, such as a divorce, medical bills, and long-term unemployment could shorten the wait.

Credit Score

Obtaining a loan to buy a home is extremely challenging with a low credit score. One way to help get a credit score back on track is to get a credit card and start building back a suitable credit history. However, there needs to be an awareness of the purchases that are made and making payments on time. This is generally the first step to take on the road to obtaining a conventional loan 3 years after foreclosure.

FHA Loans

A home loan from the Federal Housing Administration is available three years after a foreclosure. This option is now available to anyone who meets the qualifying criteria. A borrower must have been kept up on their current mortgage or have used an installment sale. Installment sales are when a home is sold with the proceeds used to pay the loan amount in full.

The benefit of an FHA loan is borrowers only need to have a 3.5 percent down payment and pay a monthly mortgage insurance premium. Current interest rates are at historic lows and the payments per month should be reasonable.

Conventional Loans

The only way to obtain a conventional loan 3 years after foreclosure is to have re-established credit along with at least 10% down payment.  One thing that is necessary is to view the current loan standards set by Freddie Mac. A mortgage advisor may also be able to help with the task of documentation.

Second Chance Home Loan Program

Individuals who have a credit score of at least 620 and 20% down can apply for this program at least one day after the foreclosure process or a short sale.  Check with us about the requirements to see if you may qualify for this Loan Program.

Should You Use a 401k Withdrawal For Home Purchase? (Pros/Cons)

Your 401K is one of the most powerful retirement investment vehicles you have, and the best way to make it grow is to keep investing and leave it untouched until you’re well into your 60s. But sometimes, life throw’s a curve ball and you need a lump sum to meet a major life expense – like purchasing your primary home. In other words, should you use a 401k withdrawal for home purchase?

Taking money from your 401K seems like a good choice – it’s your money, so why shouldn't you use it? Most retirement blogs or guides you read warn strongly against 401K withdrawals, thanks to penalties and fees for taking your money out early (this is a retirement account, after all). But is it always a bad choice? And what are your alternatives?

Instead of withdrawing money from your 401K for your down payment:

• Consider taking a second mortgage from your lender – or from another lender – to cover the down payment.
• Ask your lender if they can provide a larger mortgage – say 90% or 95% of the home’s value – by having you pay private mortgage insurance. PMI will increase your monthly costs – so be sure and add that into your “can-I-afford-this-mortgage” calculation – but it’s one more way to get you into the home you want.
• Take a loan from your 401K rather than withdrawl. Many people don’t know they can use their 401K as a source of loans (assuming your employer allows it). In this scenario, your account serves as a lender; you pay interest, but that interest is paid back into your account, to help make up for the earnings you’ll lose by taking out some of the principal. Here, the major risk is that if you lose your job before paying back your loan, you have to pay back the loan in full within a pretty short period of time – usually a couple of months – or else it will be considered a withdrawal and all those penalties will apply.

So how do you decide which is the best option for you? The first steps are to determine what your options really are:

• Ask your employer if they allow loans from your 401K account; if they don’t, obviously this option is off the table.
• Ask your lender if they’ll loan more more with the option of PMI.
• Shop around to see if you can qualify for a second mortgage to cover the down payment.
• Ask your lender about Down Payment Assistance Programs or Grants.

Once you know what options are available to you, you need to sit down with a calculator to figure out.

Contact me if I can be of service, but don't let the lack of a down payment stand in your way of homeownership.'

Aundrea Beach-Greco
Mortgage Advisor, CMP, CMPS

702-326-7866

info@aundreabeach.com
www.iLendLasVegas.com

Contact which option is the best choice for your budget and your income.

16 ideas to help you with money for down payment on a home

Coming up with a down payment to buy a home is one of the biggest obstacles that renters stumble on when they want to become homeowners. That's why during tax season, many homebuyers turn to their tax refunds as a down payment option.  Here's some advice on the many ways you could make it happen, along with 4 dead-end options to avoid.

First, a few tips:
Check with your mortgage professional that the source of your down payment is approved with your loan guidelines.   Ask real-estate agents about state and local housing incentives, grants and loans and what local lenders like myself offer.   Some down-payment ideas are safer than others; a few have toxic consequences to your taxes or retirement savings. Study your options carefully and review your plan with a certified public accountant or a nonprofit housing counselor approved by the Department of Housing and Urban Development.

1. Pull from savings: The time-honored way to fund a home purchase is to set aside money each month. Use an automatic electronic transfer through your bank or credit union. Choose an account that that earns the most interest possible while letting you access the money.
2. Liquidate miscellaneous assets: Sell your nice car, buy a beater and apply the difference to your down payment. Sell your boat, motorcycle, collectibles or other assets. Use your tax refund. Call in money that people owe you.
3. Sell stock options: If stock options are part of your compensation, selling them might earn you cash. Contact your human-resources department to learn the rules.
4. Sell taxable investments: Sell stocks, mutual funds, bonds and other taxable investments before touching money held in tax-deferred retirement accounts, such as 401(k)s and IRAs, which require you to pay significant penalties when you sell.
5. Cash in a life-insurance policy: So-called permanent life insurance policies (not "term" policies but "universal" or "variable universal life" or "whole life" policies) grow in value as you pay into them. When enough value has accumulated, you can take cash out or borrow against them. Talk with your insurance agent to learn your options.
Caution: If you no longer need the insurance, this could be a nice source of ready cash. But first-time homebuyers usually are young, have children and need the protection of insurance; withdrawing money from a policy could reduce or eliminate your death benefit, leaving your family in financial trouble if you die. You also can lose coverage if you borrow against the policy but don't pay it back. Ask your insurance agent to outline the pros and cons. Call your state's insurance commissioner's office if you have questions.
6. Use a gift: Some mortgages – loans insured by the Federal Housing Administration, for example – let you apply gifts from immediate family members toward your down payment. You’ll need a "gift letter" from the person who gave you the money, verifying that it doesn’t have to be repaid. Be prepared for the lender to ask for copies of checks or wire transfers.
7. Try your employer: Some corporations, universities and local and state governments have programs to provide employees with down-payment assistance. Check with your human-resources department. For example, in South Dakota, 19 employers participate in a state-sponsored Employer Mortgage Assistance Program that lets employees take out a 2% interest rate second mortgage for $600 to $6,000 to cover closing costs and down payment. Each year, the city of Baltimore and state of Maryland contribute as much as $6,000 to 100 city employees (PDF) to help them buy homes within the city. These programs are meant to help keep valued employees in their jobs and closer to work.
8. Enlist a partner to purchase with you: A co-owner can help by sharing costs, including the down payment, and by signing on to be responsible for repaying the loan if you can’t quite qualify for a mortgage. A lender can explain the details.
9. State grants and loans are a potentially useful but constantly changing pool of down-payment money distributed through local and state agencies. Usually, these require a government-insured FHA mortgage. Funds are usually claimed quickly and programs expire or change frequently. Act early to be considered, or add your name to a waiting list.
Caution: Don't get roped into paying for "help" to obtain government grants and loans. Scammers and middlemen offer to guide you or qualify you for a fee, but you’ll get safer, cheaper advice from a HUD-qualified housing counselor.  Ask us for more information.
10. Your lender:  The lender might be willing to offer you a higher interest rate in exchange for helping you with some of your closing costs. In this case, the lender pays a portion or all of your closing costs because of the higher interest rate and you pay a slightly higher monthly mortgage payment instead of as an upfront chunk of cash.
Caution: Depending on how long you keep the home, paying a higher interest rate than necessary could, over a loan’s lifetime, cost more than the down-payment help is worth.  Ask your morgage professional to help you calculate if this is worthwhile.
11. Your seller (including builders): Buyers have a lot of leverage with sellers today, at least in some parts of the country. Ask your real-estate agent to help you search for sellers who are offering to cover closing costs.  Propose that the seller help with closing costs when you’re negotiating sales price.
Sellers sometimes will sweeten the deal by purchasing discount "points" that lower your interest rate, letting you use more of your cash for the down payment. Each point costs 1% of the loan amount and can be used to reduce your rate by 0.125 to 0.25 percentage points. (If your mortgage was for $150,000, the seller might buy one point, for $1,500, potentially lowering your interest rate from 5.25% to 5%.) This would lower your monthly payment from $828 to $805.
Caution: Pushing a seller too hard to lower the price and make other concessions could ruin the deal. Be prepared for the seller to ask for a higher purchase price in exchange. Then the question is: Will the appraiser find the home worth the higher price?
12. Seller financing: Infrequently, a seller may be willing to act as your banker. It might be possible to strike a no- or low-down-payment deal with a seller who owns the home free and clear. But if the seller has a mortgage, you’ll need to qualify for a loan just as you would with a bank, including a down payment.
13. Your real-estate agent: Agents don’t like to admit it, but occasionally some will give up a portion of their several-thousand-dollar commission to keep a sale from falling through. Approach this conversation with tact and care.
14. Your new employer: Your leverage with an employer is never better than when you are first signing on. Depending on the company and how badly your skills are needed, you might be able to negotiate a contribution toward your down payment as part of your benefits package, as a signing bonus or in place of a relocation allowance.

Yes, you can cash out retirement accounts. But don’t do it. The ground lost in saving for retirement isn’t worth it. Also, the Internal Revenue Service penalties for removing cash from a tax-protected account before you retire are steep.
However, here are two less expensive (but still ill-advised) ways to leverage your retirement savings:
15. Tap your IRA. There’s an exception to penalties on withdrawals from retirement accounts that lets first-time homebuyers withdraw up to $10,000 from an IRA to use as a down payment on a home purchase.
Caution:
Remember to declare the income on your taxes (you were excused from paying tax on it when you put it into the IRA, remember?)  Be sure to chat with your accountant before doing this.
16. Borrow / liquidate from your 401(k): Most companies let employees borrow from the balance of their 401(k) accounts. Rules vary but, generally, you can extract as much as half of the vested amount in the account, up to $50,000. As you repay it, the money, including the interest, goes back into your 401(k). The plan administrator at your workplace can outline the specifics, including how long you’re given to repay the loan.
Caution:
As long as you repay the loan, you won’t be taxed on the money until you withdraw it in retirement; unlike a mortgage loan, the interest you pay on this loan is not tax-deductible.
As with the IRA withdrawal, this is considered a bad idea because it sets back your retirement progress.  If you leave the employer for any reason before repaying the loan, you’ll have to repay the entire thing at once. Don’t say we didn’t warn you.

Dead-end options to avoid
You may have heard from friends and family about other strategies. Chances are, changing rules or interest rates have made them less effective. Don’t waste much, if any, time pursuing these:
1. Peer-to-peer lending: Websites such as Prosper.com and Lending Club essentially create a marketplace for people to directly lend and borrow money. The idea is that the lenders reap interest, borrowers get cash and the site collects fees. But Prosper, for one, has not funded one down-payment loan in the last year. CEO Chris Larsen speculates that's because piling a down-payment loan on top of a mortgage is unwise and unlikely to attract Prosper lenders.
2. The American Dream Downpayment Act was a federal program of grants up to $10,000 to first-time buyers, but no longer is offered.
3. Private nonprofit gift programs: Until late 2008, a special category of seller-funded nonprofit programs was able to channel up to 6% of the purchase price of a sale as a "gift." Federal law now prohibits seller-funded down-payment assistance, which means that programs run by AmeriDream, the Nehemiah Program, GAP, Homes for All and RealtyAmerica have all been closed.
4. Section 8 homeownership vouchers: Low-income buyers may be able to get help through this federal program, but you and the property must meet the qualifications. "The unfortunate part of the program is that there are too many variables involved," Hawkins says. "In all my (10) years in real-estate and financial counseling, I’ve only seen it used one time."

 If you need help seeing what you qualify for, please dont hesitate to contact me.

My Best,

Aundrea Beach-Greco
The Beach-Greco Team
Mortgage Advisor, CMP, CMPS
NMLS 333739
(702) 326-7866
info@aundreabeach.com
www.iLendLasVegas.com

Doctors, lawyers, even beauticians adhere to strict education requirements and licensing. Do you want someone who is not bound to certain mortgage licensing standards looking at your credit and finances? Consult a Certified Mortgage Planner (CMPS)!
 

*** Aundrea has been lending in our community since 1997 and still going strong! *** 

What is QM and how will it affect mortgages in Las Vegas?

Many people are asking what will happen when QM aka: DF14 (Dodd Frank 2014 rules)
 hits the street in January 2014 and it will be business as usual for us...

What you may have heard: 
Word on the street is that many borrowers who otherwise would have qualified will not qualify after QM is in place.  A misnomer is if the government doesn't want to be involved in mortgages, they are going to make it really difficult to get a mortgage that they have to insure.

First of all let me start by easing your minds... Most of this rule has been followed by most lenders for quite a while now, you just didn't know it.

What to expect: 
Some portions of the rule are simply not going to affect any of us; no more 40 year terms, no more stated income loans, no more interest only loans; those are about 6 years too late!

More important are the items which could affect new home loan applications after January 2014, the biggest of which is ATR – Ability To Repay. Within the ATR rule, the item that stood out most was the cap on DTI (debt to income) ratios at a max of 43%. Now, had it not been for the 7 year reprieve that was built into the rule we may have been in trouble. The rule basically states that as long as Fannie/Freddie, FHA/VA and USDA don’t come out with their own restrictions on DTI AND you receive an automated underwritten approval then the 43% DTI restriction won’t apply for the next 7 years.  Again, business as usual for us...

Where this will come into play is if you have a manually underwritten file or a file that received a  DU/LP Refer, the DTI cannot exceed 43% under any circumstance.

Here are some of the other items that are required to ensure we have documented the borrower’s ability to repay:

•Income should be verified through a third party.
 Most lenders already order 4506T on all files
•All debts will be considered as part of the DTI ratio.
•Assets will be verified for a minimum of 2 months.

Here are a couple of additional items that fall under the new rules that take effect January 10, 2014:

•Copy of the Appraisal must be given to the borrower 3 business days prior to closing. This rule has been in place for some time now and we still have the ability to waive the 3 day wait period.
•Maximum cap on fees charged to the borrower as follows:
3% of the total loan amount for a loan greater than or equal to $100,000
$3,000 for a loan greater than or equal to $60,000 but less than $100,000
5% for the total loan amount greater than or equal to $20,000 but less than $60,000
$1,000 for a loan greater than or equal to $12,500 but less than $20,000

2 important points here – this does not apply to investment properties and we do not lend less than $50,000.

So as you can see,  it’s going to be business as usual...

If you or someone you know is a victim of QM, contact me.  We are licensed in 28 states and we will help you. The new QM rules shouldn't hinder you or someone you know from obtaining a mortgage.

Aundrea Beach-Greco
The Beach-Greco Team
Mortgage Advisor, CMP, CMPS
702-326-7866
info@aundreabeach.com
www.TailorMyMortgage.com

Yes, VA Loans Are Available After a Bankruptcy, Foreclosure or Short Sale

Yes, You Can Get a VA Home Loan After a Bankruptcy, Foreclosure or Short Sale

Yes, you can get a VA home loan after a bankruptcy, foreclosure, short sale, or deed in lieu. You only need to wait two years from the date of the “event” (foreclosure, short sale, etc). The two year rule also works for a discharged bankruptcy. It is important to note that this two year wait period is the shortest for any type of Conventional/Government home financing. The FHA program requires a three year wait period after a foreclosure. Both Fannie Mae and Freddie Mac require a 7 year wait period after a foreclosure. With both agencies the wait time could be shorter if there were “extenuating circumstances”, but proving extenuating circumstances is not an easy task. 

Flexible Credit Qualifying for VA Financing

Not only is a VA home loan more lenient when it comes to prior credit issues, but also is just a better program all the way around, at least for those Veterans with entitlement available for the program.  VA allows Veterans to purchase a home with no down payment.  

FHA, a government loan program available to anyone looking to buy a home, requires only 3.5% down payment. However, the monthly mortgage insurance on an FHA loan is also very high. VA, even with no down payment, has no monthly mortgage insurance. On a $400,000 loan amount, the difference in payment just because of the FHA mortgage insurance would be approximately $450 per month. (The FHA mortgage insurance factor for loans at 96.5% loan to value is 1.35%. 1.35% x $400,000 divided by 12 = $450 per month).

Re-Established Credit is Critical

If a Veteran really wants to enter the real estate market after a major credit derogatory, it is critical that they work on repairing and rebuilding their credit. They should make sure the “event” is reporting correctly on their credit report. Many times after a foreclosure, the foreclosed lender will continue to show a balance on the mortgage. This is not correct. After foreclosure the balance should be $0. A short sale will sometimes appear on the credit as a foreclosure. It should read SETTLED_LESS THAN FULL BALANCE.

Get a copy of your credit report immediately.  If you see errors on your credit, then contact a credit specialist for the best way to correct it right away. If you would like a FREE credit report and consultation, contact me.  Also, open new accounts in order to rebuild your credit. This should all be done before the two year wait period is up. A Veteran who has planned ahead and re-established their credit will be in position to buy a home at the end of month 24 after their foreclosure, short sale, or bankruptcy.

Lender Guideline Overlays for VA Home Loans

A Guideline Overlay occurs when a lender does not directly follow the standard VA guidelines. A common overlay is for a VA lender to require a longer wait period after a foreclosure or short sale when the loan amount is greater than $417,000. In many parts of the country this wouldn’t matter much. However, in some high cost counties in other states like Orange County and Los Angeles county, this can be a problem. The ZERO DOWN loan limit in Clark County, NV (2013) is $417,000. This means a Nevada Veteran buying a home in Las Vegas with a VA home loan could borrow up to $417,000 and would not need a down payment. But many lenders wouldn’t approve this if the Veteran had a foreclosure two years prior. This is why it is important that the Veteran get Pre-Approved by a local Nevada VA direct lender before making an offer on a home. The Veteran needs to find a lender who will follow VA guidelines without overlays. Also the lender will be able to provide custom VA home loan scenarios with details on the purchase price, loan amount, payment, and closing costs associated with a VA loan.

Contact me for more details or to get pre-approved.

Aundrea Beach-Greco
Mortgage Advisor, CMP, CMPS
702-326-7866
info@aundreabeach.com

FHA 203K Realtor Tips - How to write a 203K purchase contract

How to Write a FHA 203K Purchase Contract

If you’re a Realtor chances you are, in some capacity, working with foreclosures, short sales or other types of distressed property. You are also battling an inventory shortage that is affecting the ability to find a home, any home, for your potential buyers.

The FHA 203K Loan can help you on both fronts. It allows for buyers to finance neglected properties since property condition is not an issue for renovation loans AND it also increases the pool of potential properties for finicky buyers. They don’t need perfection in their potential homes because they can perfect it themselves, with their own touches as part of their renovation mortgage.

Before I get into the details on what you need to expect, how you write the 203K offer and the other caveats to 203K financing, I want to say one thing – WORK WITH AN EXPERIENCED RENOVATION LOAN OFFICER.

Now that we have that out of the way, on to the task at hand.

Writing a FHA 203K Purchase Offer

• Put 203K in the Purchase Contract – Many lenders require this to be there, but it also lets the seller / listing agent know that those property condition issues that have killed deals in the past are NOT going to be an issue this time around.

• Provide for a Longer Contingency Period – Best practice says allow for enough time to get the Home Inspection AND a Contractor Bid. 70% of my clients underestimate the the cost of the renovation initially.

• Give at least 45 Days to Get Closed – 203K Loans have more 3rd party items, give some additional time for the buyer to get a couple contractors to the house AND give the contractors time to price accurately.

What to Expect During Your FHA 203K Transaction

• Expect the Appraisal to Come Later in the Process than You Are Used To – 203K Appraisals are based on after repair value. You have to have the contractor bid FIRST before we can do the Appraisal

• Expect to Provide More Access to the Property – Inspectors, Contractors and (sometimes) 3rd Party Consultants will all need access to the property.

• Keep CALM – There’s more going on with a 203K Loan. More 3rd parties and more potential for delays. If you’ve heeded my initial advice and have chosen and experienced loan officer you’ll be fine even with a delay or two. You need to keep calm because if something does come up that slows the purchase down your calmness will ensure the listing agent stays cool as well.

All in all FHA 203K loans are not that much more difficult from the Realtor’s side. This is especially the case if you have chosen an experienced RENOVATION SPECIALIST to work with. Have I driven that home enough yet?

Now, get out there and sell someone a foreclosure already! Oh, 203K Loans are not just for distressed property, you can use them on move in ready homes as well. Don’t limit yourself, sometimes your buyer’s need some help seeing the vision.

Need a FHA 203K PRE-APPROVAL? We have you covered in 28 states, just click to contact me and we’ll get back to you within hours to walk you and your clients through the process and pre-approval phase.

Aundrea Beach-Greco
Mortgage Advisor, CMP, CMPS
702-326-7866
info@aundreabeach.com

Only 1/2% Down Payment Needed

Trying to buy a home, but saving the down payment and closing costs a challenge?  Sellers or builders won't contribute to your closing costs?
We have a loan program that can help.
Contact me today to see if you qualify!
702-326-7866
info@aundreabeach.com

Now Is the Time for a HARP Refinance

Underwater on your mortgage and still haven’t refinanced? You may think that you missed the window or are not eligible, but with interest rates still near historic lows and an expanded Home Affordable Refinance Program (HARP) it may be within your reach.

While it’s true that home prices have risen steadily over the past year and a half, approximately 24 percent of American homeowners are still underwater on their mortgages. This is especially true of those living in areas hardest hit by the housing and economic crisis. The Federal Housing Finance Agency (FHFA) estimates that there are between 1 million and 2 million borrowers eligible for HARP who are underwater are paying above-market interest rates. You could be one of them.

Why do a HARP refinance?

Borrowers nationwide are reaping significant savings — either by lowering their payments, reducing their interest rates and/or securing a fixed rate. Homeowners who refinanced through HARP during the first quarter of 2013 will save an average of $4,300 in interest payments during the first 12 months.

Take homeowners Josh and Kelly in Tampa, FL, who were $80,000 underwater on their mortgage. By refinancing under HARP last year, they were able to lower their interest rate by nearly 2 percent, reducing their monthly payments by about $520.

And HARP is now simpler than ever. So if you were already turned down before, try again because recent changes to the program are designed to help more homeowners no matter how far your home has fallen in value.

Why now?

While the program has been extended through the end of 2015, the time to act is now!
Interest rates on 30-year fixed mortgages have increased nearly a full percentage point since mid-May, and we do not expect them to return to the historic lows seen late last year and the first part of 2013.

However, mortgage interest rates are still comparatively low. Looking back to the mid-2000s, the average 30-year fixed interest rate was around 6 percent. Freddie Mac’s chief economist expects rates on the 30-year fixed rate mortgage to remain around 4.5 percent for the rest of the year.

Given that nearly half of the 30-year fixed rate mortgages owned or guaranteed by Freddie Mac or Fannie Mae have rates of 5 percent or greater, lots of homeowners stand to benefit from acting now.

Get started

More than 2.8 million families have already benefited from the program, and you could, too. If you are current on your payments and your mortgage is owned by Freddie Mac or Fannie Mae, get started now by following these steps:

1. Determine if Freddie Mac or Fannie Mae owns your loan.
2. Gather your financial information.
3. Contact us.
   Aundrea Beach-Greco :: Mortgage Advisor, CMP, CMPS :: NMLS 333739
   702-326-7866
   info@aundreabeach.com :: www.TailorMyMortgage.com

We are licensed in 28 states.  

Article provided from Tracy Hagen Mooney