9AM What's Happening In Las Vegas?π
City Of Las Vegas Nevada
Established: 1905
Population: 640,200
Businesses: 19,821
Resident Profile:
Average Income: $50.9k
Workforce: 310,698
Average Age: 35.9
Public School Graduation Rate: 71.4%
Sunny Days Per Year 294
Increase in Bachelor's Degree Holders: 97%
Least Congested Region For Traffic: #4
Safest City in the United Stated: #16
Access to Market,Labor and Consumers
Greater Vegas is strategically located along interstate 15 and is within a five-hour drive of 9 percent of the nations population.
It is within a two-hour flight of 25 percent of the nation's population. In fact, the region is less than one day's drive from 60 million consumers and five major United States ports servicing the Pacific Rim
Today, we have returning guest, Marc Conn of community access lending they are a mortgage lending company located in Las Vegas. Join us as we talk about what's happening in the mortgage market!
What is the difference between a wholesale broker and normal mortgage company?
3 Types of Lender:
1. Retail Lender - The ones who has a mortgage rates on the board.
It is also a lender who lends money to individuals or retail customers. Banks, Credit Unions, savings and loan institutions and mortgage bankers are popular examples or retail lenders.
2. Mortgage Banker - Has warehouse lines, they fund along themselves and immediately sell it to one of the investors. Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans
3. Wholesale Broker - often possesses specialized expertise in a particular line of coverage or in a line of coverage that is unusual and/or hav greater access to or influence with certain insurance markets, which is especially valuable when dealing with a difficult-to-place risk
What is Non-occupant Borrower?
A non-occupant borrowers is anyone, such as a parent, who is willing and financially able to be a borrower on the mortgage, but who will not live in the home.
Sample scenario: A lounge couple is buying their first home, and his parent would like to help. She They are willing and able to be a borrower on the mortgage loan, but they will not live in the home. Because borrower's parent will be an actual borrower on the mortgage loan, their income and liabilities are considered from a qualifying perspective and will be included in the combined debt-to-income (DTI) ratio
If you want to get in touch with Marc Conn you may reach him at 702-929-8220
Watch the video and find out more!