Meet Dianna Herra: Motorcycling Senior Loan Officer

Dianna 3Dianna Herra has been our Senior Loan Officer at Premier Mortgage Lending since 2011. Starting in the banking industry in 1989, Dianna has worked her way up from secretary to Senior Loan Officer. Her two decades of experience include working for a community bank as Assistant Vice President of loans.

After moving to Las Vegas in 2003, she started working with Rick and Cheryll in 2004 and has worked with them ever since. What she loves about their history working together is, “We have worked together for so long we can depend on each other to assist when needed.”

For Dianna, “the fact that everyone that works in the office has an incredible amount of experience” is what made Premier Mortgage Lending stand out for her. “It is the most knowledgeable group of people I have ever worked with – which results in smooth closings and happy customers.”

Dianna’s specialties include VA Loans, even manually underwritten VA loans for people who have had previous credit problems, Private Money Financing and FHA Financing.

When Dianna is not working to help people’s dreams become a reality, she is motorcycling, RV-ing or listening to music.

What’s the once piece of advice Dianna has for you?

“A home is probably the biggest purchase you will ever make. You want to work with someone like me who has extensive knowledge and experience. I will listen to what your goals and needs are. Do you need the home paid off before you retire, or are you looking to move up in 3-5 years? There are a lot of variables that go into what type of financing you decide on and I can help educate you to help you make the best decisions.”

7 things mortgage lenders like to see from borrowers

The most complex aspect of the home buying process is securing a mortgage in our current market. Mortgage lenders require detailed information from borrowers in order to determine eligibility and the interest rate of your mortgage.

Here are seven things mortgage lenders will ask for as part of this process:

  1. Social Security numbers or taxpayer identification numbers for all borrowers.
  2. Current financial status, including but not limited to: account numbers and status of all checking, savings, money market, retirement, and credit card accounts. They will also want to see copies of at least 2 to 3 months of checking and savings account statements and balances.
  3. Proof of employment, i.e. recent W-2s or pay stubs to prove your financial stability.
  4. Information on any consumer debts, i.e. complete credit history, from car loans to student loans, etc.
  5. If you are receiving financial help from a friend/relative for the down payment on your mortgage, then your mortgage lender will ask to see a Gift Letter showing the funds are a gift and do not have to be repaid. This letter needs to be written, signed and notarized by the person lending the funds.
  6. Proof of utility bill payments and rent payments. This exemplifies your payment history and revolving debt.
  7. Finally, your entire federal income tax returns. Why? Just another added level of protection against fraud or misrepresentation of income to the lender.

Mortgage lenders may well ask for additional information depending on your marital status, employment status or credit history.

For more information on Premier Mortgage Lending’s Finance options, please visit our website or contact us on 702-485-6600 today.

Meet Cheryll Acevedo, our musical Senior Loan Officer

Cheryl Cheryll Acevedo is a senior loan officer at Premier Mortgage Lending and has been with the company for 2 years now. What attracted Cheryll to Premier Mortgage Lending? “Premier is an innovative company always changing with the needs of our clients”.

Having been in the mortgage industry in Las Vegas for 25 years, she is fully knowledgeable on the local industry. Her experience as a loan processor and a loan officer combined with her continual education within the mortgage field has made Cheryll a respected member of the industry. She has taught classes to real estate agents and given many presentations on new products and features of the ever changing business.

Cheryll’s customer service and communication skills along with her vast knowledge of the business and the ability to adapt to the changing guidelines and overall knowledge of every aspect of the mortgage industry, makes her a valuable asset to Premier Mortgage Lending.

With a musical touch, Cheryll spends her free time playing the piano and spending time with friends and family. Her love of traveling has her riding off into the sunset on her motorcycle for vacations.

The one piece of financial advice Cheryll has for you is:

“To educate yourselves about the process of your loan.  Make sure you understand the specifics of the loan type you are getting and applying for.  To make sure that you ask a lot of questions and be prepared to work together with the mortgage professional for a successful closing.”

Meet Andrea Hall, Operations Manager at Premier Mortgage Lending

Andrea HallAndrea Hall is the Operations Manager at Premier Mortgage Lending and has been with Premier since the inception over 2 years ago. She thinks Premier stands out for one reason, our team of professionals. “Premier truly cares about our clients, we do not just do mortgage loans to close loans and make money, we make sure that the loan we are giving to the client is in their best interest.  If the client will not benefit from our program, we will not do it.”

Andrea has worked for one other mortgage company in her 20+ years in the industry. She has held all positions in the lending industry including obtaining her DE Underwriting ability for FHA loans.  Andrea’s passion in mortgage lending is the operational side. As a great problem solver she loves working with the processors and underwriters to resolve issues and of course working with the clients to get their loans closed. “That is the best feeling in the world when you know you helped make a dream come true”.

Andrea’s favorite thing to do outside of work is drag racing. Her husband retired several years ago so he could race competitively with National Hot Rod Association.  “I am lucky and get to go with him to the majority of the races he competes in.”

A little piece of advice from Andrea:

“The most important thing about finance is “understanding” what you are getting into as a borrower.  You really need to understand the loan type and terms.  Ask questions and do not stop until you are comfortable with the answers you get and that you really understand what type of loan is best for you and your circumstance.  Be comfortable with who you are dealing with, if you are not it is okay to ask to work with someone else in the company or change lenders.  This is a big decision, not matter if it is your first home or you are a seasoned homeowner.”

 

Premier Mortgage Lending Featured in Bloomberg Article

As a private-lender, Premier Mortgage Lending gives people a Second Chance at their credit.

After the economic downfall many people were left forced to foreclose or short sale their home. While most lenders are turning away these people for conventional financing, we are looking at the person’s credit history prior to the foreclosure or short sale and offering them our Second Chance program.

Bloomberg stated the following in their ‘Americans Seize Second Chance Mortgages Post-Foreclosure:

“Some borrowers who don’t qualify for conventional financing are turning to private money lenders such as Rick Piette, owner of Las Vegas-based Premier Mortgage Lending, which gets funding from individuals and institutional investors. Piette says he spends about $15,000 a month on advertising his “second chance” mortgages in the Las Vegas market and has given out about 200 of them since June 2011.”

7 things to know about applying for Home Loans.

Buying a home is a big decision and with that comes a lot of learning about home loans. We, at Premier Mortgage Lending, have outlined 7 things that all buyers should know about applying for home loans.

1) Learn about the different types of loans that are offered and their benefits. Traditional loans (i.e. FHA, VA, Conventional) will all be run through an automated underwriting system which will tell the lender if your credit is acceptable.

2) Some private lenders will offer a ‘Second Chance’ loan. Premier Mortgage Lending look at your credit history prior to the foreclosure or short sale to decide if you are an acceptable candidate for our ‘Second Chance’ program. We want to know that prior to your foreclosure or short sale, you had a history of paying your bills on time.

3) Before you apply for your home loan, calculate what you can realistically afford including taxes and insurance. You can use a mortgage calculator to help you. When calculating how much you can afford, consider making a higher down payment to reduce your mortgage payment.

4) Don’t apply for any new credit accounts before you apply for your home loan as this will alter your credit report and can impact the type of loan you’ll be able to receive.

5) Keep all of your existing credit accounts active. This will help to not only maintain a credit history but show a higher credit to debt ratio which can help to give you a better credit score and interest rate.

6) Keep a stable employment history. Lenders want to see that you have a consistent employment history to ensure that you’ll be able to pay your mortgage payments. Best case scenario is to have been employed by the same company for at least 2 years.

7) Last but not least, pay your bills on time. This will not only improve your credit score but will also help to ensure that those lenders who look at your credit report in detail can see a trustworthy candidate.

For more information on Premier Mortgage Lending financing options please contact us on 702-485-6600 or by clicking here.

Premier Mortgage Lending is not a ‘hard money’ lender

A question we at Premier Mortgage Lending are frequently asked is:

I have friends who took out one of those ‘hard money’ loans and they ended up losing their home. Could that happen to me?

Answer: We do not consider ourselves to be a ‘hard money’ lender or a predatory lender. Our rates are normally substantially below “hard money” rates, and all of our loans have NO pre-payment penalties. You can pay off your loan at any time without penalty or additional fees.

Contact us today for more information on 702-485-6600 or by clicking here.