Nevada was one of the states hit hardest by the COVID-19 pandemic and resulting economic shutdown. With nearly a quarter of our population suddenly thrust into unemployment, making a mortgage or rent payment got a lot harder for a lot of people in a very short period of time.

Before COVID-19, lenders were reporting a less than 2 percent delinquency rate in Nevada. By April, that number was 7.97, so there’s a good chance some of you reading this have been affected, or you know someone who has.     

There’s no question that the business of real estate has gotten a lot more complicated in the age of COVID. However, it is still possible to buy or sell a house. You just need to adjust your process to address current concerns and restrictions.

If you’re buying

COVID-19 affirms the value of approaching your purchase in a methodical way. Here are some of the tasks you can accomplish by yourself, or through a phone or a video call.

So, you’ve been thinking about buying a home. But perhaps your credit score isn’t as tip-top as you’d like. Maybe you’re paying back school loans. Or you had to short-sell your last home. If you’re looking at challenges like these but feel ready to become a homeowner, an FHA loan might be right up your alley.

For the home improvement aficionados among us, we’ve been presented with quite the conundrum: We’re stuck at home, and some of us even have extra time. Yet we’re also stuck at home, which means no window-shopping trips to the home improvement store.

Never fear — the Nevada Housing Division is here! And we have plenty of ideas for how you can use this time to spruce up your home without going within 6 feet of other humans.

Effective April 1, 2020 U.S. Banks's Project Approval Department (PAD) will streamline the contact information used for this area to only use the email address submissions - projectapprovaldept@usbank.com questions padquestions@usbank.com

By the time the clock struck midnight on New Year’s Eve 2019, the Nevada Housing Division’s (NHD) Home Is Possible (HIP) programs had helped 21,970 Nevada families realize the American dream of homeownership. These newly anointed lawn mowers, picture hangers and pet lovers include 1,497 veterans and active military personnel, as well as 796 Nevada teachers. That’s a lot of families now able to paint their walls that questionable shade of chartreuse without worrying about what the landlord thinks.

Many people delay the idea of buying a home while they’re paying down or trying to completely pay off student debt. But local industry experts believe there are many good reasons to consider homeownership sooner rather than later. Among them: With Nevada being one of the fastest growing states in the country, house prices are anticipated to continue rising, which could put your dream of homeownership even further out of reach if you wait a few years.  

The seller must have taken title to the subject property more than 90 days prior to the contract date on the sale of the property to the applicant.

U.S. Bank will allow funding fee to be split. It can be partially paid by the buyer, seller, partially financed, or partially paid in cash.

Nevada’s home prices keep rising and the hunt for affordable options is becoming more and more challenging. Enter the condominium (aka condo) and townhouse. Typically priced below detached, single-family houses, these housing units are a more affordable option for many Nevadans.