Las Vegas Archives

How High Mortgage Rates Are Affecting Las Vegas Buyers & What You Should Do

The real estate market in Las Vegas has seen incredible growth over the past decade—but as mortgage rates climb, many buyers are starting to feel the pressure. Higher rates can impact affordability, monthly payments, and even buyer psychology.

But here’s the good news: you can still buy smart in today’s market if you know how to adjust your strategy. Let’s look at what’s happening, how it affects buyers, and what you can do right now to stay ahead.

1. How Higher Rates Affect Buying Power

When mortgage rates rise, your monthly payment goes up—even if the home price stays the same. For example:

A $400,000 home at 5.5% interest costs about $2,271/month (principal & interest).
That same home at 7.5% jumps to $2,797/month.

That’s more than a $500 difference per month—and for many buyers, that’s the difference between qualifying and not qualifying for a home.

So yes, higher rates affect affordability—but that doesn’t mean opportunity is gone. It just means strategy matters more than ever.

2. What’s Happening in the Las Vegas Market

Even with rates up, demand in Las Vegas remains strong. Why?

Population growth continues as people relocate from California and other high-cost states.
Low inventory keeps competition steady—there simply aren’t enough homes for everyone moving here.
Rising rents are pushing renters to buy, since owning often costs about the same in the long run.

That mix of steady demand and limited supply is helping stabilize prices, even in a higher-rate environment.

3. How Smart Buyers Are Adapting

Savvy Las Vegas buyers aren’t waiting for rates to drop—they’re adjusting their game plan. Here’s how:

1. Buy Now, Refinance Later

You’ve probably heard the phrase, “Marry the home, date the rate.” It’s true. You can lock in your dream home today and refinance later when rates dip. Waiting could mean paying more if prices climb in the meantime.

2. Ask for Seller Credits

In this market, sellers are more open to negotiation. You can often ask for seller-paid closing costs or a 2-1 rate buydown, which temporarily lowers your rate for the first two years.

3. Focus on Long-Term Value, Not Short-Term Rate

Your home’s value appreciation and tax benefits often outweigh short-term interest costs. Las Vegas remains one of the strongest appreciation markets in the country.

4. Get Fully Pre-Approved

In a competitive environment, a full pre-approval from a trusted lender (like The Derek Parent Team) gives you credibility with sellers and locks in your rate for a set period—protecting you from further increases.

4. Why Waiting Might Cost More

Many buyers are sitting on the sidelines hoping rates will drop—but waiting comes with risks.

If rates fall next year, competition will surge again. That means higher prices and bidding wars could erase any rate savings.

For example, if rates drop by 1% but home prices rise by 5–7%, you could end up paying more overall. Sometimes, waiting to “time the market” costs more than acting strategically today.

5. Long-Term Perspective: Real Estate Is Still a Wealth Builder

Even in higher-rate environments, real estate remains one of the most effective paths to long-term wealth.

Each payment builds equity instead of paying your landlord’s mortgage.
Home values in Las Vegas historically trend upward due to population and job growth.
When rates eventually drop, refinancing can unlock even more savings.

The key is focusing on the bigger picture—owning a home that fits your lifestyle, budget, and long-term goals.

6. What You Should Do Next

If you’re thinking about buying in Las Vegas, here’s your action plan:

Get Pre-Approved Early. Know your exact budget and lock in your rate.
Explore Programs That Reduce Payments. Ask about 2-1 buydowns, ARM loans, and first-time buyer programs.
Negotiate Smartly. Work with a local agent and lender who understand market trends and can help you structure a winning offer.
Stay Flexible. The right property often appears when you least expect it—being ready gives you the edge.

Final Thoughts

High mortgage rates may have changed the game, but they haven’t ended it. In fact, this market rewards prepared, strategic buyers more than ever.

If you’re ready to explore your options, connect with The Derek Parent Team. We’ll review your current situation, compare loan programs, and help you create a plan that works—no matter where rates go next.

by Derek Parent

Understanding Your Loan Options in Nevada: FHA, VA, Conventional — Which Fits?

Buying a home is one of the biggest financial decisions you’ll ever make—and choosing the right loan type is just as important as finding the right house. In Nevada, buyers have several popular mortgage options, each designed for different financial situations and goals.

Here’s a breakdown of the three main loan types—FHA, VA, and Conventional—and how to decide which one fits your needs best.

FHA Loans: Ideal for First-Time or Low-Down-Payment Buyers

FHA loans are backed by the Federal Housing Administration and designed to make homeownership more accessible.

Key Features:

Low down payment: As little as 3.5% down if your credit score is 580 or higher.
Flexible credit standards: Great for buyers with limited credit history or past credit challenges.
Assumable loans: If you sell, the buyer can take over your FHA loan (a big plus if rates rise).

Considerations:

Mortgage insurance (MIP): Required for all FHA loans, regardless of down payment.
Loan limits: FHA has specific limits per county (for 2025, around $498,257 in Clark County).
Property standards: The home must meet FHA safety and condition requirements.

Best For: First-time buyers or those with moderate credit who need flexible qualification options.

VA Loans: A Top Choice for Veterans and Active-Duty Service Members

The VA loan is one of the most powerful home loan programs available—exclusive to veterans, active-duty service members, and eligible surviving spouses.

Key Features:

No down payment required (in most cases).
No monthly mortgage insurance (PMI).
Competitive interest rates.
Flexible credit and DTI guidelines.

Considerations:

VA funding fee: Usually 2.15% (can be financed into the loan); waived for disabled veterans.
Primary residence only: VA loans can’t be used for vacation or investment properties.
Property type restrictions: Some condos and high-rises in Las Vegas may need VA approval.

Best For: Veterans and active-duty buyers who want zero down and the lowest long-term costs.

Conventional Loans: Best for Strong Credit and Flexible Property Choices

Conventional loans are not government-backed. They’re issued by private lenders and follow guidelines set by Fannie Mae and Freddie Mac.

Key Features:

Down payments as low as 3% (for qualifying first-time buyers).
No upfront funding fees.
Can remove PMI once you reach 20% equity.
Flexible property types: Single-family homes, condos, and even investment properties.

Considerations:

Credit requirements: Generally need a score of 620+, though higher scores earn better pricing.
Stricter DTI limits: Your total debt load should stay below 45–50%.
Higher rates for smaller down payments or lower credit.

Best For: Buyers with solid credit, stable income, and the ability to put more down for long-term savings.

Which Loan Is Right for You?

Loan Type	Minimum Down	Credit Flexibility	Mortgage Insurance	Best For
FHA	3.5%	Most flexible	Required for life of loan	First-time or lower-credit buyers
VA	0%	Flexible (for veterans)	None	Veterans, active-duty, surviving spouses
Conventional	3%	Moderate to high	Removable at 20% equity	Strong-credit or repeat buyers

Loan Options in the Las Vegas Market

Nevada buyers benefit from multiple loan choices—and local market conditions make some stand out:

VA loans are extremely popular near Nellis and Creech Air Force Bases.
FHA loans help first-time buyers compete as rents rise across the valley.
Conventional loans dominate luxury and high-rise financing where FHA/VA restrictions apply.

Working with a knowledgeable local lender ensures you’re matched with the best program for your budget, credit, and long-term goals.

Final Thoughts

There’s no one-size-fits-all mortgage. The right loan depends on your credit, income, goals, and how long you plan to stay in the home. Whether you’re a first-time buyer, veteran, or move-up homeowner, knowing your options can save you thousands over the life of your loan.

If you’re ready to compare FHA, VA, and Conventional loans side-by-side, connect with The Derek Parent Team. We’ll walk you through your numbers, explain your choices, and help you find the loan that fits your life—not just your home.

by Derek Parent

Should You Refinance Before Selling Your Home?

If you’re planning to sell your home, you might be wondering: “Should I refinance first?” It sounds counterintuitive, but in some situations a quick refinance can lower costs, fix loan issues, or help you net more at closing. In other cases, it just adds fees and time you don’t need. Let’s break down when it makes sense—and when it doesn’t.

The Big Question: What Are You Trying to Solve?

Before you refinance, get clear on the why. Most sellers consider refinancing to:

Lower a payment temporarily while prepping the home for sale
Remove private mortgage insurance (PMI) to improve monthly cash flow
Switch from an ARM to a fixed rate to avoid a payment jump during a longer selling timeline
Cash out equity for repairs/updates that could boost sale price
Fix title/occupancy/loan quirks that could spook buyers or delay closing

If none of these apply, refinancing purely out of habit usually isn’t worth it.

When Refinancing Before Selling Can Make Sense

1) You’ll Own the Home Long Enough to Break Even

Refinances have closing costs (often 2–5% of the loan amount). If you plan to hold the home for several months, a lower payment—or eliminating PMI—can offset those costs.
Rule of thumb: calculate the breakeven point (closing costs ÷ monthly savings). If you’ll keep the home longer than that, it may be worth it.

2) You Need Cash for High-ROI Repairs

Strategic upgrades (fresh paint, flooring, landscaping, lighting, minor kitchen/bath refresh) can increase your sale price and marketability. If a cash-out refinance funds improvements that comfortably exceed the cost of the refi, it’s a smart trade.

3) Your Current Loan Could Scare Buyers

If your ARM is about to reset or your loan terms complicate underwriting (rare, but it happens), moving to a clean, fixed-rate mortgage can reduce surprises—especially if you might sell to a buyer using financing that scrutinizes the seller’s situation.

4) You Want to Rent Instead of Sell (Plan B)

Markets change. If you might pivot to renting for 6–24 months, refinancing into a stable payment now can improve cash flow and give you time to let the market catch up.

When Refinancing Before Selling Doesn’t Make Sense

1) You’ll Sell Soon (60–120 Days)

There’s not enough time to recover the cost of a refi. Listing prep + days on market + closing timeline can already push your calendar; adding a new loan process rarely helps.

2) Your Rate Would Increase

If your existing mortgage rate is meaningfully lower than today’s market, replacing it only to sell shortly after is usually a net negative.

3) You’re Tapping Equity Without ROI

Pulling cash for non-essential spending (not tied to sale price or speed) just adds costs and risk. Save the equity for closing, a new purchase, or reserves.

4) You’ll Trigger a Prepayment Penalty

Not common for standard residential loans—but if yours has one, a new refi followed by a quick sale might stack fees. Verify first.

Cash-Out vs. No-Cash-Out: Which Fits Your Goal?

No-Cash-Out Refi: Best for dropping PMI, improving the rate/term, or stabilizing a payment during a longer prep/list window.
Cash-Out Refi: Best when you have a targeted renovation plan with clear comps showing the upgrade boosts value or days-on-market.

Tip: If you only need a small amount for repairs and your sale is near, a HELOC (interest on what you use) can be more flexible than a full refinance.

Quick Math: A Simple Breakeven Example

Closing costs: $5,500
Monthly savings (rate drop + PMI removal): $275
Breakeven = 5,500 ÷ 275 = 20 months

If you’ll own the home longer than 20 months, it could pencil out. If not, consider skipping the refi or using smaller-ticket financing for prep.

Renovations That Typically Pay Off (and Those That Don’t)

Often worth it:

Interior paint, deep clean, curb appeal, lighting, minor bath/kitchen refresh, flooring repairs, functional fixes (HVAC, roof patches)

Usually skip:

Major kitchen/bath gut jobs, room additions, luxury customizations right before listing

Focus on first impression and inspection-risk items. Buyers love “move-in ready,” and appraisers reward clean, well-maintained homes.

Tax & Timing Considerations (High Level)

Points/fees: Some costs may be deductible over time—ask your tax pro.
Capital gains timing: If you’re close to the 2-out-of-5-year ownership/occupancy rule for the primary residence exclusion, don’t let a refi delay your sale past a key date.
Appraisal timing: If values are rising, waiting a few weeks for stronger comps can help whether you refinance or sell.

(This isn’t tax advice—loop in your CPA for specifics.)

A Simple Decision Framework

How soon will you sell?

< 6 months: likely no refi
6–24 months: maybe (run breakeven)
24 months: consider if savings are real

What’s the objective?

Lower payment / remove PMI / stabilize term = no-cash-out refi
High-ROI improvements = cash-out or HELOC

Does the math work?

Closing costs vs. monthly savings + projected value lift

Any simpler path?

HELOC, seller credits, smart staging instead of major reno

Final Thoughts

Refinancing before selling can be a smart move when it directly increases your net proceeds, reduces risk, or buys time—and when the savings outweigh the costs. But if your sale is around the corner, a refi often adds complexity without enough benefit.

Want a fast, honest read on your numbers? The Derek Parent Team can run a refi vs. sell-as-is scenario: breakeven analysis, projected sale proceeds, and funding options for prep work—so you can move with confidence.

by Derek Parent

The Complete Guide to DSCR Loans for Investors

Real estate investing has always been about finding creative ways to grow wealth, but traditional financing doesn’t always fit the needs of investors. That’s where DSCR loans come in.

These loans are designed specifically for real estate investors, and they make it easier to qualify by focusing on the property’s income—not your personal income. If you’ve ever struggled to get approved because of complex tax returns, self-employment, or multiple properties, this guide is for you.

What Is a DSCR Loan?

DSCR stands for Debt Service Coverage Ratio. It measures whether a property’s rental income is enough to cover its debt payments.

Formula:
DSCR = Net Operating Income (NOI) ÷ Annual Debt Service (loan payments)

A DSCR of 1.0 means the property generates just enough income to cover the loan.
Lenders typically require a ratio of 1.2 or higher to approve financing.

Instead of looking at your W-2s or tax returns, lenders use this ratio to decide whether the property qualifies.

Who Benefits from DSCR Loans?

DSCR loans are ideal for:

Real Estate Investors: Whether you own one property or 20, DSCR loans make scaling your portfolio easier.
Self-Employed Borrowers: Income from business ownership or 1099 work doesn’t always fit neatly into traditional guidelines. DSCR solves that problem.
Investors Using Short- or Mid-Term Rentals: Properties listed on Airbnb, VRBO, or corporate housing platforms can qualify based on projected rental income.
Out-of-State Investors: You don’t need to live in Las Vegas to invest here—DSCR loans are popular with out-of-market buyers.

Key Benefits of DSCR Loans

No Personal Income Verification
Approval is based on property income, not your tax returns.
Unlimited Properties
Traditional lenders often cap you at 10 financed properties. DSCR loans allow you to keep growing.
Flexible Loan Types
Both purchase and refinance loans are available, including cash-out for equity.
Property Types Covered
Single-family homes, condos, townhomes, 2–4 units, and even some larger multifamily properties may qualify.
Fast Closings
With less documentation needed, DSCR loans often close quicker than conventional loans.

Things to Watch Out For

While DSCR loans offer flexibility, there are a few considerations:

Higher Interest Rates: Expect slightly higher rates than traditional mortgages.
Larger Down Payments: Many lenders require 20–25% down.
Stricter Rent Calculations: Lenders may use market rents (via appraiser’s Schedule of Rents) instead of your actual rent if they differ.
Reserve Requirements: Investors may need to show several months of reserves to qualify.

DSCR Loans in the Las Vegas Market

Las Vegas is a prime market for DSCR loans because:

Strong Rental Demand: Tourism, corporate relocations, and population growth drive steady rental income.
Short-Term Rental Opportunities: Where permitted, nightly rentals can boost DSCR ratios significantly.
Diverse Property Options: From high-rise condos near the Strip to suburban single-family rentals, investors have a wide range of choices.

Because financing rules vary by building and HOA, working with a lender who understands the Las Vegas market is crucial.

Final Thoughts

DSCR loans are one of the most powerful financing tools available to investors today. They simplify the approval process, expand your ability to scale, and open doors for buyers who don’t fit into traditional lending boxes.

If you’re ready to explore DSCR loan options in Las Vegas, connect with The Derek Parent Team. With years of experience helping investors, we’ll guide you through the process and find the program that best fits your property and portfolio goals.

by Derek Parent

Financing Options for Las Vegas High-Rise Condos

High-rise condos are a signature part of the Las Vegas skyline—sleek towers, resort-style amenities, and lock-and-leave living steps from world-class dining and entertainment. But financing them isn’t always the same as financing a single-family home. Lender rules, HOA health, and “warrantability” all matter, and they can make or break a deal.

This guide explains the most common financing paths for Las Vegas high-rise buyers—so you can shop with confidence and close without surprises.

First: Warrantable vs. Non-Warrantable (Why It Matters)

Before you choose a loan, understand whether the condo project is “warrantable” (meets Fannie Mae/Freddie Mac rules) or non-warrantable (doesn’t meet one or more rules).

Typical warrantability factors include:

Adequate HOA budget and reserves
No major litigation impacting safety/marketability
Owner-occupancy and investor concentrations within limits
No short-term rental/hotel operations that blur residential use
Low HOA delinquency rates

Why it matters: Warrantable condos can use standard conventional loans with better pricing and lower down payments. Non-warrantable condos often require portfolio/jumbo/Non-QM financing with different terms.

Conventional (Conforming) Loans

Best for: Primary or second-home buyers in warrantable towers.

Down payment: As low as 5–10% for primary/second homes (subject to loan limits and project review).
Rates & terms: Typically the most competitive when the building qualifies.
Project review: Lender may do a Limited Review (simpler) or Full Review (more documentation).
Investor purchases: Stricter LTV caps and pricing add-ons; many towers limit nightly rentals.

Pro tip: Ask your lender to order the condo questionnaire early. Catching an HOA issue up front can save weeks.

Jumbo Loans

Best for: Higher-price units that exceed conforming limits, especially in luxury towers.

Down payment: Often 10–20%+ depending on occupancy and borrower profile.
Reserves: Expect higher cash-reserve requirements.
Underwriting: Case-by-case; property and HOA health are scrutinized.
Warrantability: Some jumbo investors allow more flexibility than agency rules, but documentation is still rigorous.

VA Loans (Eligible Buildings Only)

Best for: Qualified veterans buying a primary residence.

Down payment: Often 0% down if the project and borrower qualify.
Approval: The condo project may need VA approval, or the lender may pursue a spot approval.
Perks: No monthly PMI; competitive rates.

Note: Not every high-rise is VA-friendly, so pair with a lender who knows which towers work.

FHA Loans (Limited High-Rise Use)

Best for: Entry-level buyers where the specific project carries FHA approval or qualifies for a spot approval.

Down payment: From 3.5% (credit- and loan-limit dependent).
Reality check: Many Strip-adjacent towers don’t fit FHA due to approval status and project features.

Non-QM & Portfolio Loans (For Non-Warrantable/Unique Situations)

Best for: Buildings with condo-hotel elements, lower owner-occupancy, STR/air-bnb-style use, or borrowers with non-traditional income.

Common Non-QM options:

Bank-statement loans (qualify using deposits vs. tax returns)
Asset-depletion (convert liquid assets to income equivalent)
Interest-only options (payment flexibility)
Expanded credit event windows (BK/foreclosure seasoning)

Trade-offs: Higher rates/down payments, larger reserves, and more detailed building review. But they can close deals that agency loans can’t.

DSCR Loans (Investors)

Best for: Investors purchasing units primarily for rental income.

Qualification: Based on the property’s Debt Service Coverage Ratio (rent vs. payment), not your personal DTI.
Use case: Long-term rentals; some investors allow mid-term stays.
Down payment & pricing: Typically 20%+ down with investor-style pricing.
Watch-outs: HOA rental rules, minimum lease terms, and building policies can affect DSCR approval.

Condo-Hotel/Hotel-Program Units

Some towers offer hotel-program participation or operate similarly to hotels. These are typically non-warrantable and require specialty financing (portfolio or Non-QM), or even cash.

Expect: Higher down payments, unique underwriting, and program agreements to review.
Revenue split/management fees: Factor these into your cash-flow analysis.
Exit strategy: Resale pools and financing availability can influence appreciation and liquidity.

What Can Derail a High-Rise Loan (And How to Prevent It)

HOA litigation impacting structural/safety issues → Get details early; some suits are insurable/acceptable, some are not.
Thin reserves or budget problems → Lenders may decline or price higher; ask for current budget and reserve study.
High HOA delinquencies → Signals risk; can push a project to non-warrantable.
Short-term rental rules that violate agency standards → Consider DSCR or portfolio options.
Insurance changes (master policy deductibles, coverage gaps) → Confirm with the HOA’s insurance agent.
Incomplete questionnaires → Work with a lender experienced in Vegas towers to get fast, accurate responses.

Down Payment, Reserves & Docs: What to Expect

Down payment: Ranges from 5% (strong agency-eligible scenario) to 20–30%+ (jumbo/non-QM/investor).
Cash reserves: Plan for 6–12 months PITI (or more for jumbo/investor) depending on profile.
Documentation: Two-year income/employment history (or bank statements/assets for Non-QM), condo questionnaire, master insurance, budgets, reserve study, and HOA docs.

Tips for a Smooth High-Rise Closing

Get pre-approved with a high-rise specialist who knows each tower’s quirks.
Ask for the condo questionnaire and master insurance early.
Verify rental and STR rules in writing if investment income is part of the plan.
Budget for HOA transfer/working-capital fees and potential special assessments.
Compare total monthly cost, not just rate: HOA dues, parking/storage fees, utilities, and insurance.

Final Thoughts

Las Vegas high-rises offer a uniquely luxurious lifestyle—and strong investment potential—but the right financing strategy depends on the tower, HOA health, and how you plan to use the unit. That’s why working with a lender who lives and breathes condo approvals can save you time, money, and headaches.

Have a tower in mind—Veer, Waldorf Astoria, Panorama, The Martin, Turnberry, or a condo-hotel program? The Derek Parent Team can map the best path (conventional, jumbo, VA, DSCR, or Non-QM), run numbers side-by-side, and guide you to a clean approval.

by Derek Parent

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.”

by Derek Parent

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 limits set by Fannie Mae and Freddie Mac. For 2025, the conforming limit in most parts of the country is around $766,550 for 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 payments in 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. The Derek Parent Team has 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 with The Derek Parent Team. We’ll help you understand your options, prepare your application, and secure the right jumbo loan for your needs.

by Derek Parent

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 city with 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’t Do

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 with The Derek Parent Team today—we’ll guide you through the VA loan process and help you secure the home you’ve earned.

by Derek Parent

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-qualification and 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 step in 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 might qualify 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 dive into 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 with The 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.

by Derek Parent

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 with The 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.

by Derek Parent