Buying vs. Renting a New Home in Nevada

New Home Mortgage

According to a recent article by Hubble Smith in the Las Vegas Review Journal, Las Vegas ranks as the best city in the United States to BUY A HOME versus renting. If you’re in need of another chance to own your own home, contact Premier Mortgage Lending today. We have a number of loan programs that can help get you back into a home even after a foreclosure or short sale. Your dream of home ownership can still be alive with the help of Premier Mortgage Lending and our Another Chance Nevada loan programs. We’ll work hard to get you back on the road to recovery.

2nd Chance Financing Program

 

Home Loan ProgramPremier Mortgage Lending is excited to be partnering with several Las Vegas area homebuilders to offer buyers 2nd chance financing options. Look for this logo in the builder ads of the Las Vegas Review Journal real estate section and find out how Premier Mortgage Lending can get you into a new home today!

Buy vs. Rent: The Tide is Turning

If we’ve said it once, we’ve said it a thousand times. There has never been a better time to buy a home! According to Les Christie May of CNN Money there are two factors at work:

First, rents, though mostly stagnant the past few years, are expected to head higher as more people bitten by the housing bust turn to renting. Rents could rise 7% in each of the next two years, according to Peggy Alford, president of Rent.com.

Second, home prices have finally dropped enough to create a buying opportunity. Nationally, prices are down 32% from their peak, set in 2006.

The net result is that home price gains would need to average only 3.25% annually to beat renting, according to Beracha and Johnson. To make the math work, you have to stay in the home for at least eight years.

If you’ve been forced into renting due to a foreclosure or short sale, Premier Mortgage Lending can help. Visit AnotherChanceNevada.com and see if you may be able to purchase a home today while prices are at fantastic lows.

Premier Mortgage Lending – Interest in ‘Another Chance’ program

Premier Mortgage Lending’s privately-funded Another Chance Home Loan Program has stirred the interest of prospective southern Nevada home buyers who wonder if they can take advantage of the present buyer’s market.

“Now is definitely a great time to buy a home in southern Nevada with the influx of homes for sale at incredibly low prices. Some Nevadans who want to purchase a home may feel as if they can’t for years to come because of a financial downturn, foreclosure or short sale. However, these potential buyers may be able to take advantage of today’s amazingly low housing prices and buy a home of their own through Premier Mortgage Lending’s Another Chance Home Loan Program,” manager Rick Piette said.

“Throughout the summer, Premier Mortgage Lending has helped potential buyers determine their buying capacity and connect them to the type of mortgage that best meets their needs through complimentary mortgage prequalification,” Piette said. “We’ve referred some prospective borrowers to traditional mortgages, while others with a recent short-sale or foreclosure have discovered that they, too, can purchase a home by obtaining a loan through our privately-funded Another Chance Loan Program.”

Through Another Chance, private lenders and institutional portfolio lenders offer home loans for the purchase of residential properties. Full-documentation underwriting guidelines are followed and at least a 20 percent down payment is required. Borrowers may close within 30 days from the time of loan approval.

“Another Chance provides many Nevadans the option of purchasing a home at today’s low housing prices rather than relying on landlords and paying rent that is often more than what the mortgage payment would be on the same type of home,” Piette said. “We offer individuals who may not qualify for a traditional loan the opportunity to buy a home for their family today and when the time comes, the opportunity to refinance into a traditional loan without penalty.

“Helping Nevadans realize homeownership is a ‘win’ not just for the homeowners, but also for the community and the state. To get our economy back on track, we’ve got to fix housing.”

For details about the Another Chance Loan Program, mortgage prequalification, or scheduling an appointment, call 485-6600 or visit www.AnotherChanceNevada.com.