The competitive Las Vegas real estate market remains highly desirable for relocating home buyers. You need an edge when purchasing your Las Vegas home; please read on and we’ll examine why a mortgage prequalification letter can help you stand out in a sea of competing offers.

Congratulations on your decision to move to Las Vegas! Once simply a quiet casino outpost, Las Vegas has been transformed into a thriving entertainment mecca and remains one of the fastest growing cities in America. If you are planning to purchase property in Las Vegas, you can expedite the process by having your mortgage prequalification letter in hand before you begin looking for a home. Read on and we shall see why this all important step can ease your home buying experience.

A Las Vegas mortgage prequalification letter is issued by a mortgage company to let you know exactly how much of a home you can purchase. It tells sellers and real estate agents the following about you:

• You are ready to buy.
• You are qualified to purchase a home within a specific price range.
• You are a good customer.

Indeed, a seller is more likely to consider you as a purchaser if you have already obtained this all important letter. When multiple bids are being tendered, the seller will consider those offers backed by a prequalification letter first.

Don’t let your Las Vegas dream home slip through your fingers just because you forgot this important step. Get qualified for a Las Vegas mortgage today to show everyone that you are a serious homebuyer.

Copyright 2006-2008 – Matt Keegan is a freelance writer for John Vanhara who is President & Broker of MillionSaverHomes.com a Las Vegas Real Estate company helping to make Las Vegas home ownership a reality for thousands of home buyers from across the USA.

Purchasing a home involves certain important, even essential, steps that every buyer should take before closing on a purchase. Let’s examine these “essentials” which, if properly implemented, can help you save valuable time and aggravation.

• Determine What You Can Borrow. Sure, if you know your interest rate and the length of the loan you can pretty much determine your monthly payments, right? No! You must include your property taxes, homeowners insurance, and association or maintenance fees, if applicable. These “added” costs can significantly contribute to higher monthly payments. No lender will give you a loan without figuring these costs in.

• Know Your Fees. Closing costs can add up to the tune of several thousand dollars. Title searches, realtor fees, loan applications, attorney fees, and legal fees must be taken into consideration. Many states require lenders to give to borrowers a ballpark figure of what these costs will be.

• Shop For A Loan. The longer you plan on staying in your home, the more likely you will want a fixed rate mortgage. If you are planning on a short stay, a variable rate mortgage may work best for you. Consider an interest free mortgage if you basically plan on “flipping” the home in one or two years. Of course, you had better hope that your home appreciates significantly in that time otherwise you may find yourself owing more than what you originally paid for the house!

• Get Pre-Approved. Realtors and sellers will take you seriously if you are pre-approved for a loan. In some cases the pre-approval will not only swing a deal your way, but you could find the sellers are more receptive to lowering their price if they believe you are a serious shopper.

• Negotiate. You may not be able to get the seller to drop the price of their home, but you may be able to get them to sweeten the deal by including certain extras. Air conditioners, refrigerators, washers, dryers, ceiling fixtures, and window treatments are some of the things that add value to your purchase. If extra items are included in the sale, then your later pay out for these items will disappear.

In all, if you are a thoughtful and savvy shopper you should be able to save money on the purchase of your home by following these five essentials.

Matthew C. Keegan is The Article Writer who covers topics from business to health to mortgages. Please visit WordJourney for to read Matt’s devotional blog.