Why This Little Dip = Big Opportunity in Las Vegas
I’ve been lending in Vegas for 20+ years, and I’ve seen this movie before a small price dip, headlines get loud, and a lot of good buyers freeze. Meanwhile, my clients who stay calm, run the numbers, and move decisively tend to win.
Here’s what I’m seeing right now, on the ground:
- Prices nudged down—values are holding. Single-family medians eased a bit, condos/townhomes softened too—but this is not a crash. It’s a window.
- Inventory = options. We finally have more homes to choose from and more balanced negotiations. That’s a gift if you’ve been getting outbid.
- Homes still move. Well-priced properties are selling within ~60 days. Translation: demand is alive; it’s just rational.
Why I’m telling my fence-sitters, “this might be your moment”
- A dip doesn’t equal danger—it often equals discount + leverage.
- Sellers are more open to credits toward closing costs and repairs.
- You can structure a clean, comfortable payment with the right program and pricing strategy.
- Vegas fundamentals—jobs, population growth, lifestyle—are still strong. That’s why values here tend to stabilize and recover.
The buyer plays I’m using with clients (right now)
- “Payment First” Game Plan: We start with your ideal payment, then reverse-engineer price + program + rate options to match it.
- Seller-Credit Hunt: Target listings with days-on-market leverage; negotiate credits to lower your upfront cash and monthly cost.
- Lock & Shop Strategy: Use lock protection and smart timing so you’re not handcuffed by rate headlines.
- First 90-Day Win: Ask me for my 90-day onboarding plan (insurance review, tax positioning with your CPA, refinance trigger alerts) so you feel confident before and after closing.
- High-Rise Angle (my specialty): If you’re eyeing the Strip/Downtown, I’ll flag buildings with stronger HOA reserves, rental flexibility, and better risk profiles—it matters for both lifestyle and resale.
What this means if you’ve been waiting
If you pressed pause earlier this year because selection was thin or payments felt tight, let’s revisit. With more inventory and cooperative sellers, you may be able to get the home you wanted and the payment you needed—without waiting for a spring rush to push prices back up.
Ready to see your exact numbers?
I’ll build you a side-by-side plan in plain English:
- Standard 30-year options (fixed/ARM)
- With and without seller credits
- Today’s payment vs. a potential refi scenario if/when rates ease
No pressure—just clarity. Most people feel 10x calmer once they see the options on one page.
Apply in 5 minutes or grab a quick call:
P.S. Veterans, teachers, first responders, medical pros—ask me about specialized programs and cost-saving strategies. If you’re considering a high-rise, I’ll send you my quick cheat sheet on the Top Investor-Savvy Buildings and what to watch for in HOAs.
“More than a loan officer — a trusted advisor, problem-solver, and lifelong partner in homeownership.”
Jumbo Loans in Las Vegas: What Buyers Should Expect
Las Vegas is known for luxury living—from custom estates in Summerlin and Henderson to sleek high-rise condos on the Strip. But with higher price tags often comes the need for jumbo financing.
If you’re looking at homes above conventional loan limits, you’ll likely need a jumbo loan. Here’s what buyers in Las Vegas should know before applying.
What Is a Jumbo Loan?
A jumbo loan is any mortgage that exceeds the conforming loan limitsset by Fannie Mae and Freddie Mac. For 2025, the conforming limit in most parts of the country is around $766,550for a single-family home.
If your purchase price requires financing above that number, you’re in jumbo territory.
Why Jumbo Loans Matter in Las Vegas
In markets like Las Vegas, where luxury homes and high-rise condos often exceed conforming limits, jumbo loans are common. Buyers use them to:
- Finance luxury single-family homes in areas like Summerlin, The Ridges, and Henderson.
- Purchase high-rise condos on the Strip, such as Veer Towers or Waldorf Astoria.
- Secure vacation or second homes in golf course or guard-gated communities.
Key Differences From Conventional Loans
Jumbo loans don’t follow Fannie Mae or Freddie Mac guidelines, so lenders set their own requirements. Expect:
- Higher Credit Standards
Most lenders look for a minimum 700+ credit score, though some programs allow slightly lower with strong reserves. - Larger Down Payments
While some jumbo lenders offer 10% down, 20% or more is common for the best terms. - Stronger Income Documentation
Lenders typically require full tax returns, W-2s, or—if you’re self-employed—profit-and-loss statements and bank records. - Reserve Requirements
Expect to show 6–12 months of mortgage paymentsin reserves, sometimes more for larger loans. - Tighter Debt-to-Income Ratios
Many jumbo programs cap DTI at around 43%, though some lenders are more flexible.
Interest Rates and Terms
Jumbo loans traditionally had higher rates than conventional loans, but in today’s market, the gap is often much smaller. In some cases, jumbo rates may even be competitive with conventional programs.
Borrowers can choose from:
- Fixed-Rate Jumbo Loans:Predictable payments over the life of the loan.
- ARM (Adjustable-Rate) Jumbos:Lower initial rates with adjustments later—popular with buyers who don’t plan to stay long-term.
Common Uses of Jumbo Loans in Las Vegas
- Luxury Estates:Large properties in The Ridges, Anthem, or MacDonald Highlands.
- High-Rise Condos:Units in buildings like Panorama, The Martin, or Turnberry Place often require jumbo financing.
- Second Homes:Many buyers use jumbo loans to purchase vacation homes in golf or resort communities.
Tips for Getting Approved
- Check Your Credit Early
Clean up any errors and reduce balances before applying. - Gather Documentation
Jumbo underwriting is detailed—have tax returns, bank statements, and proof of assets ready. - Work With a Specialist
Not all lenders are comfortable with high-rise condos or luxury properties. TheDerek Parent Teamhas decades of experience navigating jumbo financing in Las Vegas. - Consider Your Reserves
The more liquidity you can show, the stronger your application. - Know Your Loan Options
Some lenders offer jumbo loans tailored for self-employed borrowers, investors, or those with unique income streams.
Final Thoughts
Jumbo loans open the door to some of the most desirable properties in Las Vegas. While they require stronger financials and more documentation than conventional loans, they also provide flexibility and access to luxury real estate opportunities.
If you’re ready to explore jumbo financing for a home in Las Vegas, connect withThe Derek Parent Team. We’ll help you understand your options, prepare your application, and secure the right jumbo loan for your needs.
What Every Veteran Needs to Know About VA Loans in Las Vegas
If you’ve served our country, you’ve earned one of the most powerful benefits available to homebuyers: the VA loan.Backed by the U.S. Department of Veterans Affairs, VA loans give veterans, active-duty service members, and eligible spouses the opportunity to buy a home with incredible advantages.
But how do they actually work in Las Vegas? And what should you know before using one? Let’s break it down.
What Is a VA Loan?
A VA loan is a mortgage program created in 1944 to help veterans achieve homeownership. Unlike conventional or FHA loans, VA loans are guaranteed by the government, which makes lenders more willing to offer favorable terms.
The best part? VA loans are designed to make homeownership easier and more affordable.
Key Benefits of VA Loans
- No Down Payment
Qualified veterans can finance up to 100% of the home’s value. - No Private Mortgage Insurance (PMI)
Unlike FHA or conventional loans with less than 20% down, VA loans eliminate monthly PMI, saving you money. - Competitive Interest Rates
Because the VA guarantees part of the loan, lenders typically offer lower rates than other loan types. - Flexible Credit Guidelines
VA loans often allow more leniency with credit scores compared to conventional financing. - One-Time Funding Fee (with Waivers Available)
A funding fee helps sustain the program, but it can be rolled into the loan. Disabled veterans may qualify for an exemption.
VA Loans in the Las Vegas Market
Las Vegas is a military-friendly citywith Nellis Air Force Base and Creech Air Force Base nearby. Because of that, VA loans are widely used by service members and veterans relocating to or retiring in the area.
Here’s what makes them especially powerful in Las Vegas:
- Rising Home Prices:VA’s no-down-payment feature helps veterans compete in a market where saving 20% down is tough.
- High Loan Limits:VA loans have no official cap, but lenders set guidelines. Many Las Vegas veterans use VA Jumbo Loans for higher-priced homes.
- Flexible Property Options:VA loans can be used for single-family homes, townhomes, and certain condos (if the project is VA-approved).
What VA Loans Can’tDo
While VA loans are flexible, they do have some limits:
- They’re for primary residences only, not investment properties or vacation homes.
- The property must meet VA appraisal standards (safe, sound, and sanitary).
- Some high-rise condos in Las Vegas may not be VA-approved, so always check before making an offer.
Tips for Using a VA Loan Successfully
- Get Pre-Approved First
A VA pre-approval shows sellers you’re serious, which is critical in a competitive Las Vegas market. - Work With a VA-Experienced Lender
Not all lenders specialize in VA loans. At The Derek Parent Team, we’ve helped countless veterans navigate the process. - Check Condo Approvals Early
If you’re looking at condos or high-rises, verify VA approval status before writing an offer. - Plan Ahead for the Funding Fee
Factor it into your budget unless you qualify for an exemption.
Final Thoughts
For veterans and service members, VA loans are one of the most powerful financial tools available. They remove barriers like down payments and PMI, offer competitive rates, and provide flexibility that other loan types can’t match.
If you’re a veteran considering buying a home in Las Vegas, don’t leave this benefit on the table. Connect withThe Derek Parent Teamtoday—we’ll guide you through the VA loan process and help you secure the home you’ve earned.
Mortgage Pre-Approval vs. Pre-Qualification: What’s the Difference?
If you’re thinking about buying a home, you’ve probably heard the terms pre-qualificationand pre-approval.They sound similar, but in the mortgage world, they mean very different things. Knowing the difference can save you time, reduce stress, and even give you an edge in a competitive market like Las Vegas.
What Is Pre-Qualification?
Pre-qualification is often the first stepin the homebuying process. It’s a quick evaluation of your financial situation based on information you provide to a lender.
- Usually done online or over the phone
- Based on self-reported income, assets, and debts
- Doesn’t always include a credit check
- Gives you a general idea of how much you mightqualify for
Think of it as a ballpark estimate.Pre-qualification can be useful early on when you’re just exploring your options, but it’s not a guarantee of approval.
What Is Pre-Approval?
Pre-approval is a much deeper diveinto your finances. It’s when a lender actually verifies your information to determine how much you can borrow.
- Requires documentation like pay stubs, tax returns, and bank statements
- Includes a credit check
- Provides a conditional commitment for a specific loan amount
- Carries more weight with sellers and real estate agents
Think of pre-approval as the green light.It shows you’re a serious buyer and ready to move forward.
Why the Difference Matters
In a competitive market like Las Vegas, the distinction between pre-qualification and pre-approval can be the difference between getting your offer accepted or losing out.
- Sellers prefer pre-approved buyers.They know the financing is more solid.
- Real estate agents take you more seriously.With a pre-approval in hand, they know you’re ready to shop.
- You shop with confidence.You know exactly how much home you can afford, which prevents heartbreak later.
When to Get Pre-Qualified vs. Pre-Approved
- Pre-Qualification:Use this step if you’re just starting to plan, want to see your potential budget, or are comparing loan options.
- Pre-Approval:Get this done before you start touring homes or making offers. It will give you an advantage in today’s market.
Pre-Approval in Las Vegas
The Las Vegas housing market can be fast-paced. Homes in desirable neighborhoods often attract multiple offers. Being pre-approved helps you:
- Compete with cash buyers
- Strengthen your negotiating power
- Move quickly when you find the right property
In short: if you’re serious about buying in Las Vegas, pre-approval isn’t optional—it’s essential.
Final Thoughts
Pre-qualification is a helpful starting point, but pre-approval is the real deal.It shows sellers you’re prepared, gives you confidence, and positions you to succeed in a competitive housing market.
If you’re ready to get pre-approved, connect withThe Derek Parent Team. We’ll guide you through the process, explain your options, and put you in the strongest position to buy your next home in Las Vegas.
Top 10 High-Rise Buildings in Las Vegas for Investors
Las Vegas is known for its energy, entertainment, and luxury lifestyle, but it’s also a city with one of the most dynamic real estate markets in the country. For investors, high-rise condominiums on or near the Strip represent a unique opportunity because they combine rental demand, prestige, and long-term appreciation.
Whether you’re looking for rental income, a vacation property, or long-term equity growth, Las Vegas high-rises can be a strong investment. Below, we’ve rounded up the top 10 high-rise buildings in Las Vegas for investors—each with its own appeal, amenities, and market potential.
1. Veer Towers
Located in the heart of CityCenter, Veer Towers are a favorite among investors because of their sleek architecture and prime location on the Strip. The units are modern and stylish, and short-term rental potential is high because of the walkability to casinos, dining, and shopping.
2. Waldorf Astoria Residences (Formerly Mandarin Oriental)
For investors seeking prestige, the Waldorf Astoria delivers. It offers five-star amenities, world-class service, and a central Strip location. While prices here are higher, the exclusivity and brand recognition attract luxury buyers and renters.
3. Panorama Towers
Just west of the Strip, Panorama Towers are popular with both residents and investors because of their spacious floorplans and Strip views. The proximity to Allegiant Stadium and the Raiders has also boosted demand, making it an appealing long-term investment.
4. Turnberry Place
Turnberry Place has long been one of the most established high-rise communities in Las Vegas. It offers large residences, resort-style amenities, and a private country club. Investors like it because it attracts long-term tenants who want space and security.
5. Sky Las Vegas
Sky Las Vegas sits directly on Las Vegas Boulevard, giving residents immediate access to the Strip. It features a wide range of amenities, from a resort pool to a spa and fitness center. Because of its central location, investors often find strong rental demand here.
6. Trump International Hotel Las Vegas
This non-gaming property offers hotel-condo style ownership. Investors appreciate the fully furnished units and optional hotel rental program, which makes management easy. Because it caters to travelers who want luxury without the casino environment, it’s a unique niche investment.
7. MGM Signature
For investors who want short-term rental flexibility, the MGM Signature is one of the most popular choices. Its condo-hotel model allows owners to rent their units on a nightly basis through MGM’s program or independently, making it one of the more versatile options.
8. One Las Vegas
Located on South Las Vegas Boulevard, One Las Vegas is ideal for long-term renters who prefer to be near the Strip but not in the middle of it. The larger floorplans and community atmosphere make it attractive to professionals and families.
9. Juhl
Juhl is in Downtown Las Vegas, which has seen major growth thanks to new restaurants, bars, and entertainment options. Investors like Juhl because it caters to young professionals and urban renters, plus it offers flexible leasing options.
10. Allure Las Vegas
Allure combines affordability with location. Situated near the north end of the Strip, it offers strong rental opportunities and a lower entry price point compared to ultra-luxury towers. For investors looking to get started in the high-rise market, Allure is a smart option.
Why High-Rises Work for Investors
High-rise condos in Las Vegas appeal to investors for several reasons:
- Rental Demand:Tourists, professionals, and second-home buyers drive consistent demand.
- Amenities:Pools, gyms, and 24-hour security make these properties attractive to tenants.
- Location:Being close to the Strip or Downtown ensures long-term value.
- Flexibility:Certain properties, like MGM Signature, allow nightly rentals, which can boost returns.
But like any investment, it’s important to evaluate financing, HOA fees, and rental rules before you buy.
Final Thoughts
Las Vegas continues to be one of the strongest real estate markets for investors, and high-rise condos offer a unique blend of lifestyle and income potential. From the exclusivity of Waldorf Astoria to the rental-friendly MGM Signature, there’s a tower to fit nearly every investment strategy.
If you’re ready to explore high-rise opportunities, connect withThe Derek Parent Team. With decades of experience in financing high-rise properties, we’ll help you evaluate options, secure the right loan, and maximize your investment.
How a Cash-Out Refinance Can Eliminate Credit Card Debt
If you’re like many Americans, credit card balances have crept up over the past few years. With rising interest rates, carrying balances can feel like a never-ending cycle—minimum payments barely make a dent, and interest charges eat away at your paycheck.
But if you own a home, there’s a potential solution: a cash-out refinance. This strategy allows you to use your home’s equity to pay off high-interest debt, lower your monthly payments, and take control of your finances.
Here’s how it works—and why it might be the reset you need.
What Is a Cash-Out Refinance?
A cash-out refinance replaces your current mortgage with a new, larger loan. The difference between your old loan balance and the new loan is paid out to you in cash. You can then use that money however you’d like—many homeowners use it to pay off credit cards, student loans, or medical debt.
For example:
- Current mortgage balance: $250,000
- New mortgage balance: $300,000
- Cash to you: $50,000 (before closing costs)
That $50,000 could be used to wipe out high-interest credit cards in one move.
Why Credit Card Debt Is So Costly
Credit card debt is one of the most expensive types of borrowing because:
- Average rates exceed 20%in today’s market.
- Making only minimum payments can keep you in debt for decades.
- Interest compounds quickly, so balances grow even if you’re making payments.
Compare that to a mortgage rate—even at 6–7%, it’s still dramatically lower than what you’re paying on most credit cards.
How a Cash-Out Refinance Helps
A cash-out refinance can give you financial breathing room because:
- You Swap High Interest for Lower Interest
Instead of paying 20%+ on multiple cards, you consolidate that debt into your mortgage at a much lower rate. - You Simplify Payments
One mortgage payment is easier to manage than juggling five or six credit card bills every month. - You Improve Cash Flow
Because your interest rate is lower, your monthly payment may drop significantly—even after refinancing. - You Can Rebuild Your Credit
Paying off revolving credit balances reduces your credit utilization ratio, which is a big factor in your credit score.
A Simple Example
Imagine you have $40,000 in credit card debt with an average interest rate of 22%. Your minimum payments might be over $1,200 per month, and most of that is going toward interest, not principal.
Now imagine rolling that $40,000 into a cash-out refinance at 6.5%. Your monthly payment on that debt could shrink to less than half of what you’re paying now—plus you’re paying down principal right away, not just interest.
That kind of change can free up money for savings, emergencies, or simply breathing easier each month.
Things to Consider Before Refinancing
While a cash-out refinance can be a powerful tool, it’s not right for everyone. Here are a few things to weigh:
- Closing Costs:Like any refinance, you’ll pay closing costs, which are usually 2–5% of the loan amount.
- New Loan Term:Extending your loan term can lower your payment, but it also means paying interest over a longer period.
- Discipline Matters:A cash-out refinance won’t help long term if you run credit cards back up again. It’s best paired with a plan to stay out of debt.
- Equity Requirements:You’ll need enough equity in your home—typically at least 20%—to qualify.
Is It Worth It?
Here’s the bottom line: if you’re drowning in credit card debt, a cash-out refinance could be a game-changer because it lets you:
- Consolidate debt into one manageable payment
- Save thousands in interest
- Improve your financial stability
But the best way to know is to run the numbers for your specific situation.
Final Thoughts
Credit card debt doesn’t have to control your life. With home equity on your side, a cash-out refinance can be the tool that finally helps you break free from high-interest balances and move toward financial freedom.
If you’re ready to see whether this strategy makes sense for you, connect withThe Derek Parent Team. We’ll review your mortgage, run scenarios based on today’s rates, and help you decide if a cash-out refinance can eliminate your credit card debt once and for all.
Will Mortgage Rates Drop in 2025? What Experts Predict
With economic uncertainty and inflation concerns dominating headlines, many prospective homebuyers—and even current owners—are asking: “Will mortgage rates drop in 2025?”It’s a smart question, and while nobody can predict the future with complete accuracy, expert forecasts can offer useful direction.
Here’s a clear, accessible look at what leading authorities expect — and how you can prepare, whether rates fall or stay steady.
What Are the Experts Forecasting for Mortgage Rates?
Fannie Mae
Fannie Mae adjusted its outlook recently. It now expects the average 30‑year fixed mortgage rate to finish 2025 at about 6.5%, a slight upward revision from the previous 6.4%, before easing to 6.1% in 2026.MPA Magazine+1
Mortgage Bankers Association & Other Trade Groups
Industry groups like the MBA and others anticipate rates holding mostly steady through the year. For instance, MBA projects rates will average around 6.8% in Q3 2025and end the year near 6.7%.Forbes
Broader Trend from Multiple Forecasters
Analysts including Fannie Mae, Freddie Mac, the National Association of Realtors, and others forecast that mortgage rates will linger in the mid‑6%range through 2025—declining incrementally but not dramatically.MarketWatch+5Investopedia+5Norada Real Estate+5
Recent Market Data
As of August 2025, the average 30‑year mortgage rate sits at 6.58%, its lowest in nearly ten months. Even so, experts stress that affordability remains a challenge and any rate improvement is expected to be modest.Investopedia+3AP News+3Reuters+3
Why Rates Likely Won’t Fall Sharply — Yet
Fed Rate Cuts ≠ Instant Mortgage Relief
Even if the Federal Reserve lowers benchmark interest rates (which many expect in September), mortgage rates don’t automatically follow. Trends in Treasury yields and bond markets, which mortgage pricing depends on, may not shift quickly enough to trigger dramatic declines.midflorida.com+15Investopedia+15Coosa Valley Credit Union+15
Inflation & the Fed’s Balancing Act
The Fed faces a tightrope: it needs to weigh inflation, jobs, and growth. While markets are hoping for a move in September, sticky inflation may delay or temper rate reductions.PoliticoKiplinger
Bond Market Volatility
Ultimately, mortgage rates track bond yields. Investor reactions to inflation, tariffs, or geopolitical instability can swing those yields—and thus mortgage rates—without direct policy changes.CBS NewsThe Mortgage Reports
What Buyers Can Take Away from These Forecasts
1. Expect Modest Declines Only
If rates do fall, we’re likely looking at a gradual easing into maybe the low‑6%range, rather than a return to the 3–4% era.MarketWatchNorada Real Estate
2. Opportunity to Refinance Later
If you’re buying now, you can always refinance if rates dip meaningfully down the road. In other words: buy the house today, date the rate.Investopedia+2MarketWatch+2
3. Don’t Let Timing Rule You
If you find a home you love and you’re financially prepped, waiting solely for rates may cost you more later—especially if prices keep rising.Investopedia
Final Thoughts
Here's what we can say with some confidence:
| Scenario | Likely Outcome |
| Rates will drop swiftly | Unlikely—experts see only modest movement. |
| Rates will stay in mid-6% range | Most probable—some forecasts expect 6.4–6.5% by year-end. |
| A sharp drop into low-6s or 5s | Possible down the road if inflation cools, but not expected soon. |
If you're ready to explore your options or need help projecting how mortgage rates may affect your buying power, the Derek Parent Team is here for you. We specialize in guiding Las Vegas buyers through uncertain markets, helping you lock in smart financing today with the flexibility to refinance later if needed.
Let’s chat about your situation and run the numbers—because the best decision is always the informed one.
Relocating to Las Vegas: Complete Guide for New Homebuyers
Las Vegas is famous for its nightlife, entertainment, and energy, but it’s also one of the fastest-growing cities in the country for new residents. Every year, thousands of people relocate here for job opportunities, affordable living, and sunshine nearly 300 days a year.
If you’re considering a move to Las Vegas, you’re not alone—and having the right plan will make the transition smoother. In this guide, we’ll cover everything you need to know about relocating to Las Vegas as a new homebuyer.
Why Move to Las Vegas?
People relocate to Las Vegas for many reasons, and it’s not just about the Strip. Here’s why the city has become such a hot spot:
- No State Income Tax:Nevada is one of the most tax-friendly states in the U.S.
- Affordable Housing (Compared to Other Major Cities):While prices have risen, homes in Las Vegas are still more affordable than in Los Angeles, San Francisco, or Phoenix.
- Diverse Job Market:Beyond hospitality, industries like healthcare, tech, and logistics are growing.
- Year-Round Sunshine:With warm weather and outdoor activities, the quality of life is high.
- Variety of Communities:From suburban family-friendly neighborhoods to luxury high-rises on the Strip, there’s something for everyone.
Step 1: Decide Where to Live
Las Vegas isn’t one-size-fits-all. Choosing the right neighborhood will depend on your lifestyle, commute, and budget.
Popular Areas for New Homebuyers
- Summerlin:Master-planned luxury, great schools, and access to Red Rock Canyon.
- Henderson:Family-friendly with parks, schools, and Lake Mead nearby.
- North Las Vegas:Affordable homes and lots of new development.
- Downtown & Arts District:Perfect for professionals and those who love an urban vibe.
- High-Rises on the Strip:Great for investors or buyers seeking resort-style living.
Because each area has its own personality, it’s worth exploring different neighborhoods before deciding where to buy.
Step 2: Understand the Las Vegas Housing Market
The Las Vegas market can move quickly, so being prepared is essential.
- Median Home Prices:They are generally lower than coastal cities, but prices have been rising steadily.
- New Construction:Builders are offering incentives like closing cost credits, especially in Henderson and North Las Vegas.
- High-Rise Condos:These remain popular among investors and second-home buyers.
So whether you’re looking for a starter home, new build, or luxury property, there are options for every budget.
Step 3: Get Pre-Approved Before You Shop
If you’re relocating, one of the smartest moves you can make is getting pre-approvedfor a mortgage before you start house hunting.
- Why It Matters:Pre-approval shows sellers you’re serious, and it helps you understand your budget.
- Local Expertise:Working with a Las Vegas-based lender likeThe Derek Parent Teamensures you have someone who understands local market conditions.
- Loan Options:First-time buyers, veterans, and even investors can qualify for loan programs with low down payments or special benefits.
Because the market is competitive, pre-approval can give you an edge when making an offer.
Step 4: Plan for Moving Logistics
Relocating isn’t just about finding the right house—it’s also about making the move smooth.
- Hiring Movers:Decide whether you want a full-service mover or a DIY truck rental.
- Timing Your Move:Avoid peak summer heat if possible; spring and fall are easier months to relocate.
- Utilities and Services:Set up water, power, internet, and trash collection ahead of time so your home is ready when you arrive.
- Driver’s License & Registration:Nevada requires new residents to update their license and car registration within 30 days.
Step 5: Adjusting to Life in Las Vegas
Las Vegas offers more than just nightlife. Here’s what new residents quickly learn:
- Entertainment & Dining:From world-class shows to local food scenes, you’ll never run out of options.
- Outdoor Adventures:Red Rock Canyon, Lake Mead, and Mount Charleston are all within driving distance.
- Community Life:Many neighborhoods host farmers markets, festivals, and fitness events, making it easy to meet people.
- Weather:Summers are hot, but the dry climate and mild winters balance it out.
Because Las Vegas blends city living with outdoor beauty, it’s a place where you can shape the lifestyle you want.
Tips for New Homebuyers Relocating to Las Vegas
- Visit Before You Buy:If possible, spend time exploring neighborhoods to see where you feel most comfortable.
- Work With Local Experts:Realtors and lenders who know the market can save you time and money.
- Think About the Commute:Traffic is lighter than in many cities, but location still matters if you work near the Strip or Downtown.
- Budget for HOAs:Many communities in Las Vegas have homeowners’ associations, so factor those fees into your monthly costs.
- Stay Flexible:The perfect home may not check every box, but focus on your top priorities.
Final Thoughts
Relocating to Las Vegas is exciting because the city offers a mix of affordability, opportunity, and lifestyle you won’t find anywhere else. From Henderson’s family-friendly communities to Summerlin’s master-planned luxury, there’s a neighborhood that will feel like home.
The key is preparation: understanding the market, securing financing, and working with local experts who can guide you every step of the way.
If you’re ready to make Las Vegas your new home, reach out to The Derek Parent Team. With decades of experience in the local mortgage industry, we’ll help you secure the right loan and make your relocation as smooth as possible.
What Is a Non-QM Loan? Mortgage Options for Self-Employed & Investors
If you’re self-employed, a real estate investor, or someone with unique income sources, you may have run into challenges getting approved for a traditional mortgage. That’s because most loans fall under Qualified Mortgage (QM)guidelines, which have strict requirements around income verification, debt-to-income ratios, and credit history.
But what if your income doesn’t fit into those boxes? That’s where Non-QM loanscome in.
What Is a Non-QM Loan?
A Non-Qualified Mortgage (Non-QM)is any home loan that doesn’t meet the standard guidelines set by the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages.
That doesn’t mean they’re risky or bad—it simply means lenders use alternative methods to verify income and assess risk.
Non-QM loans are designed for borrowers who are financially strong but don’t meet traditional documentation rules.
Who Are Non-QM Loans Designed For?
Non-QM loans are popular with:
- Self-Employed Borrowers:Instead of W-2s, lenders may use bank statements, 1099s, or profit-and-loss statements to verify income.
- Real Estate Investors:Programs like DSCR loans (Debt Service Coverage Ratio)allow approval based on rental income instead of personal income.
- High-Net-Worth Individuals:Asset depletion loans let you qualify by using your investment or savings accounts.
- Borrowers with Credit Challenges:Some Non-QM lenders work with recent credit events like bankruptcy or foreclosure, provided you show financial stability.
Benefits of a Non-QM Loan
- Flexible Income Verification
Instead of W-2s, you can use alternative documents like bank statements or rental income. - Access to More Loan Programs
DSCR, bank statement, and interest-only loans give borrowers creative options that traditional lenders don’t offer. - Opportunity to Scale Investments
Investors can leverage Non-QM programs to grow rental portfolios without the limitations of conventional underwriting. - Credit Flexibility
You may qualify even if you’ve had a credit event in the recent past.
Things to Consider
While Non-QM loans can be a powerful tool, it’s important to understand the trade-offs:
- Higher Interest Rates:Non-QM loans often come with slightly higher rates than conventional mortgages.
- Larger Down Payments:Some programs may require 10–20% down or more, depending on the loan type.
- Lender Variety:Not all lenders offer Non-QM loans, so working with an experienced mortgage professional matters.
The Las Vegas Factor
In a city like Las Vegas, Non-QM loans are especially valuable. With so many self-employed professionals, entrepreneurs, and real estate investors, these programs allow buyers to qualify who might otherwise be turned away by traditional banks.
Whether you’re an Uber driver with fluctuating income, a casino worker earning tips, or an investor buying a short-term rental property, Non-QM programs can provide the financing you need.
Final Thoughts
Non-QM loans open the door for self-employed buyers, investors, and anyone who doesn’t fit the traditional lending mold. They’re flexible, creative, and designed for real-world borrowers.
If you’re in Las Vegas and want to explore your mortgage options, reach out toThe Derek Parent Team. With years of experience in Non-QM lending, we’ll help you find the right program—whether it’s a bank statement loan, DSCR loan, or another Non-QM option.
Is Now the Best Time to Buy a High-Rise in Las Vegas?
Las Vegas is known for its luxury condos, Strip views, and vibrant real estate market—and high-rise living remains one of the most attractive lifestyle and investment choices in the city.
But with interest rates fluctuating, home prices adjusting, and inventory levels shifting, many buyers are asking: “Is now really the best time to buy a high-rise in Las Vegas?”
The answer depends on your goals, but let’s break it down.
Why High-Rises Are So Appealing in Las Vegas
High-rise living isn’t just about having floor-to-ceiling views of the Strip—it’s about lifestyle and long-term value. Buyers and investors are drawn to high-rises because:
- Location:You’re close to world-class dining, entertainment, and business centers.
- Amenities:Pools, gyms, valet, concierge, and 24-hour security make it turnkey living.
- Investment Potential:High-rises attract tourists, executives, and second-home buyers.
- Prestige:Towers like Waldorf Astoria, Veer, and Panorama offer exclusivity you won’t find in traditional neighborhoods.
So whether you’re buying for yourself or as an investment, the appeal is undeniable.
Current Market Conditions
The high-rise market in Las Vegas has its own rhythm compared to traditional single-family homes. Here’s what’s happening now:
- Moderating Prices:Prices have leveled after years of strong appreciation, which can mean opportunity for buyers.
- Stable Demand:Professionals, retirees, and investors still see value in condo living, especially in prime locations.
- Interest Rates:While mortgage rates remain higher than the lows of a few years ago, many experts predict modest declines in 2025 and beyond. That means buying now could let you refinance later.
- Inventory:There are more choices today than during peak demand cycles, giving buyers leverage to negotiate.
The Case for Buying Now
There are several reasons why buying a high-rise today could be a smart move:
- Lock in Today’s Price
If rates drop next year, buyer demand will spike again. More buyers = more competition = higher prices. Acting now can help you secure a unit before that rush. - Refinance Potential
You can always refinance if rates go down, but you can’t go back in time and buy the same condo at a lower price once appreciation kicks in. - Lifestyle Benefits Immediately
Beyond numbers, buying now means you get to enjoy the lifestyle right away—Strip views, concierge service, and lock-and-leave convenience. - Negotiation Leverage
With more inventory, sellers may be more open to concessions like closing cost credits or furniture packages.
The Case for Waiting
To be fair, there are reasons some buyers choose to wait:
- Rates Could Improve:A 0.5–1% drop in interest rates could save you hundreds per month.
- Economic Uncertainty:If the broader economy slows, prices could soften further in some towers.
- HOA Considerations:Some buyers like to take extra time to research HOA reserves, rules, and fees before jumping in.
So if your timeline is flexible and you’re not in a rush, waiting to see how the market unfolds may be worth considering.
What Buyers Should Really Focus On
Instead of just asking “when,” the better question might be: “What am I buying for?”
- If it’s a lifestyle purchase:The sooner you buy, the sooner you enjoy it.
- If it’s an investment:Look at rental demand, HOA fees, and long-term appreciation potential more than short-term rate swings.
- If it’s about timing the market:Remember that perfect timing rarely exists. Most successful buyers focus on the long-term, not chasing the exact bottom.
Expert Tip: Financing High-Rises is Different
Not all lenders are comfortable with condo financing—especially in high-rise towers with stricter guidelines. That’s where experience matters.
AtThe Derek Parent Team, we’ve specialized in high-rise financing for decades. We were the in-house lender at Veer Towers, and we’ve helped buyers close loans in nearly every luxury tower in Las Vegas. We know which properties qualify for conventional loans, which require jumbo financing, and how to navigate complex HOA requirements.
Final Thoughts
So, is now the best time to buy a high-rise in Las Vegas?
- Yes, if:You want to secure today’s prices, enjoy the lifestyle now, and take advantage of future refinancing opportunities.
- Maybe wait, if:You’re strictly focused on rates and are comfortable delaying your purchase for potential savings.
The truth is, high-rise living in Las Vegas has long-term appeal no matter what rates do in the short term. The key is aligning your purchase with your personal goals, lifestyle, and budget.
If you’re considering a high-rise purchase, let’s talk. The Derek Parent Team can walk you through financing options, tower comparisons, and strategies to make your investment as strong as possible.