Nevada Investment Property Loans

Investing in Nevada real estate offers a blend of opportunity and excitement. Nevada is renowned for its low property taxes, no state income tax, relatively affordable home prices, and a thriving tourism sector that drives high demand for vacation rentals and Airbnbs.

In June 2024, the average home value in Nevada reached $443,103, marking a 6.1% increase over the previous year. Although home prices are higher than the national median, Nevada’s real estate market remains attractive due to its rapid sales and home prices that are relatively low when compared with many major metro areas and cities across the country.

Whether you’re eyeing long-term rentals or short-term vacation spots, Nevada’s diverse market caters to various investment strategies, promising a solid return amidst its vibrant and bustling environment.

Exploring options for an investment property loan in Nevada can open doors to profitable opportunities. Here’s an overview of some key loan programs available to help you secure your next Nevada investment property.

Conventional Loans

A conventional loan is a standard mortgage not insured by the government. While these loans usually come with slightly higher rates for investment properties, they offer competitive terms and stability. In Nevada’s real estate market, a conventional loan can be a solid option for purchasing rental or vacation properties. Keep in mind that qualifying can be strict, especially if your income is non-traditional or self-employed.

DSCR Loans

A DSCR loan is designed for investment properties, focusing on the rental income your property generates rather than your personal income. They are particularly useful if you’re seeking to finance multiple investment properties or if you prefer not to use personal income for qualification. While they may come with higher interest rates compared to conventional loans, they offer flexibility that aligns well with Nevada’s dynamic investment property market.

Bank Statement Loans

A bank statement loan is a type of mortgage that offers flexibility for self-employed individuals or those with non-traditional income sources. Instead of traditional income verification methods like tax returns or W-2 forms, you can use your bank statements to prove your income. Bank statement loans provide a practical option for financing investment properties in Nevada, accommodating varying income levels and giving you more leeway in the qualification process.

VA Loans

VA loans are a great option if you’re a veteran or active-duty service member looking for an investment property in Nevada. These loans allow you to purchase properties with up to four units, provided you occupy one of the units as your primary residence. While you can rent out the remaining units, short-term rentals like Airbnbs are not permitted.

VA loans offer the advantage of zero down payment and competitive rates. For properties with 2-4 units, VA loans have higher borrowing limits, enabling you to leverage this benefit for your investment goals.

FHA Loans

Similar to VA loans, FHA loans offer lower down payments and can be used for properties with up to four units, as long as you live in one of them. This makes FHA loans a good option for purchasing multi-unit properties in Nevada, including those in Las Vegas.

Although typically used for primary residences, FHA loans provide a flexible path for investing in rental properties. However, be aware that they come with specific property requirements and mortgage insurance costs.

Home Equity Loans

Home equity loans work by leveraging the equity in your current home. You secure a lump sum of cash to finance new investment properties, whether in Las Vegas or elsewhere in the state. By tapping into the value of your existing property you can fund the purchase of additional investment properties. Home equity loans offer a fixed interest rate and predictable payments. Just be sure to consider the impact on your current home’s equity and ability to manage additional debt.

Asset-Based Loans

Unlike traditional loans that rely on income, asset-based loans are secured by the value of your assets, such as real estate holdings, savings accounts, or investment portfolios. These loans offer flexibility and faster approval by focusing on your asset value rather than your credit score or income. Although they may come with higher interest rates, they serve as a valuable alternative, especially in a competitive market.

Private Money Loans

If you need fast financing or have less-than-perfect credit, private money loans could be a good fit for you. Offered by hard money lenders in Nevada, these loans are based on the value of the investment property rather than your credit score. This makes them a practical choice for quickly acquiring investment properties in Nevada. Bear in mind that they often require a substantial down payment, typically around 25%, and come with higher interest rates and fees.

Buying an investment property in Nevada involves a few key steps:

• Determine how you want to invest: Do you prefer a multi-unit building with long-term tenants, an Airbnb for vacation rentals, or another type of property?
• Identify the type of financing that aligns with your goals: Consider the loan options above and determine what type of financing option can yield the most value. Not sure what financing option is right for you? Reach out and we can help you weigh your options.
• Find a property and apply for financing: Search for suitable investment property in Nevada and secure the financing that fits your strategy.

Choosing Griffin Funding for your Nevada investment property offers distinct advantages. We bring extensive experience and flexible solutions tailored to your needs. Our personalized service ensures you receive support throughout your investment journey, and our competitive rates help you maximize your returns.

Additionally, the Griffin Gold app is a powerful tool for exploring investment property loans in Nevada. It features a personalized financial dashboard, smart budgeting tools, private home search capabilities, and direct access to our mortgage professionals, making your real estate investment process smoother and more efficient.

Financing your investment property in Nevada opens up exciting opportunities for growth and success. Whether you’re considering an investment property in Las Vegas, Reno, Lake Tahoe, or seeking tailored solutions from Nevada hard money lenders, Griffin Funding has you covered. Apply now and let us help you turn your investment dreams into reality.