An FHA loan is a government-insured mortgage designed to make homeownership more accessible. Qualifying generally involves meeting FHA's credit standards, making a minimum down payment set by the program, documenting stable income, and buying a home that meets FHA property requirements. Exact terms depend on the borrower, the property, and current guidelines.
Mortgage questions, answered plainly.
Each guide leads with the direct answer, then explains the details. Written by Bryan Bowman, NMLS #1473913, licensed in Nevada, Texas, and Utah.
VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and certain surviving spouses. Qualifying starts with VA eligibility, confirmed by a Certificate of Eligibility, followed by a standard lender review of credit, income, and the property.
The core difference: FHA loans are government-insured and built for accessibility, with more flexible credit standards. Conventional loans are not government-insured and generally reward stronger credit profiles, including mortgage insurance that can be removed once you reach sufficient equity. The right choice depends on your credit, savings, and how long you plan to keep the loan.
A reverse mortgage lets eligible homeowners age 62 or older borrow against available home equity without making monthly principal and interest payments. Instead, interest and fees are added to the loan balance over time, and the loan generally becomes due when the last borrower sells, permanently moves out, or dies. Title stays in the homeowner's name.
The main advantages of a reverse mortgage: access to home equity without monthly principal and interest payments, flexible payout options, non-recourse protection, and continued ownership of your home. The main drawbacks: the loan balance grows over time, home equity generally decreases, ongoing homeowner obligations continue, and the loan affects what you leave to heirs.
Mortgage pre-approval is a lender's review of your credit, income, assets, and debts to establish what you can realistically borrow. You provide documentation, the lender verifies it, and you receive a pre-approval letter you can shop with. It's more substantive than pre-qualification, which is typically an estimate based on unverified information.
A bank offers you its own mortgage products. A mortgage broker works with multiple lenders and shops your scenario across them. The practical difference is breadth: a broker can match an unusual or specific situation against many programs, while a bank's answer is limited to its own shelf. Service quality varies individual by individual in both models.
Nevada first-time buyers have more support available than most realize: state-sponsored programs through the Nevada Housing Division, down payment assistance options for eligible buyers, and loan programs like FHA, VA, USDA, and low-down-payment conventional structures. Eligibility depends on income, location, and the specific program's requirements.
Pathway Lending Team is a Las Vegas-based mortgage practice led by Bryan Bowman, NMLS #1473913, a mortgage loan officer with Nexa Mortgage LLC, NMLS #1660690. The team works with buyers and homeowners in Nevada, Texas, and Utah on conventional, FHA, VA, USDA, jumbo, refinance, and reverse mortgage options. Pathway Lending Team is not affiliated with Pathway Lending, the Tennessee-based nonprofit community development lender.
An FHA loan is a government-insured mortgage with more flexible credit and down payment guidelines than many conventional programs. For Las Vegas buyers, the practical questions are usually whether the property fits FHA standards, how Clark County loan limits affect the price range, and whether an HOA or condo project qualifies. Bryan Bowman, NMLS #1473913, reviews all three before you shop.
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, and certain surviving spouses. Eligible borrowers may purchase with no required down payment and no monthly private mortgage insurance. In Las Vegas, with Nellis Air Force Base and a large veteran population, the recurring questions are entitlement, VA appraisal timing, and whether a condo project is VA-approved.
Bryan Bowman is a mortgage loan officer based in Las Vegas, NMLS #1473913, originating through Nexa Mortgage LLC, NMLS #1660690. He is licensed in Nevada, Texas, and Utah and works with buyers and homeowners on conventional, FHA, VA, USDA, jumbo, refinance, investment property, and reverse mortgage scenarios. His license record is publicly verifiable through NMLS Consumer Access.
Las Vegas Valley buyers generally choose among conventional, FHA, VA, USDA, and jumbo financing, with reverse mortgages available to eligible older homeowners. Which one fits depends on occupancy, credit profile, available funds, income documentation, military eligibility, property type, and the price range you are shopping. Most buyers qualify for more than one, and the useful question is which is the better fit rather than which you can get.
Mortgage pre-approval is a lender's review of your credit, income, assets, and debts to establish what financing you may qualify for before you make an offer. In the Las Vegas market, a pre-approval letter is generally expected with any offer, and the strength and specificity of that letter can affect how a seller treats your offer. Pre-approval is not a loan commitment, and final approval still depends on the property and full underwriting.
A reverse mortgage assessment reviews whether a reverse mortgage is a reasonable fit for an eligible homeowner, generally age 62 or older, before any application. It looks at age, home value, existing mortgage balance, and goals, and it compares the reverse option against alternatives such as downsizing, a traditional refinance, or a home equity line. It is an evaluation, not a product pitch, and there is no obligation attached to it.
A bank offers its own mortgage products. A mortgage broker arranges financing through multiple wholesale lending sources. For Las Vegas buyers, the practical difference shows up when a file does not fit neatly into one lender's guidelines — self-employment income, VA entitlement questions, a condo project with approval complications, or an investment property. Neither option guarantees a better outcome, because qualification and pricing still depend on the borrower and the property.
Mortgage brokers are compensated on a transaction either by the lender or by the borrower, and federal rules do not permit both on the same loan. Under lender-paid compensation the lender pays the brokerage, and that cost is reflected in the pricing of the loan. Under borrower-paid compensation it appears as a charge in your closing costs. Either way it must be disclosed on your Loan Estimate and Closing Disclosure, so you can see it and compare.
Often, yes. Self-employment and imperfect credit make a mortgage file more complex, not automatically ineligible. Self-employed borrowers are generally underwritten on documented net income rather than gross revenue, and alternative documentation programs exist for borrowers whose tax returns do not reflect their cash flow. For credit, FHA and VA guidelines are typically more flexible than conventional. The realistic first step is a review that tells you where you stand and what would need to change.
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