Tag Archives: Las Vegas

Las Vegas Homeownership Rises, But Premier’s “No Fee Loans” Still Cost $0

Rick Piette, Owner of Las Vegas-based Premier Mortgage Lending
Rick Piette, Owner of Premier Mortgage Lending.

Las Vegas is heating up again – and that applies to a lot more than just the weather. In fact, the city is currently undergoing a slew of change and growth in areas far beyond the familiar gaming industry that fueled its initial fame. Opportunity is in full swing with better-than-pre-recession levels for jobs, the local economy, and the real estate market.

According to Rick Piette, owner of Premier Mortgage Lending in Las Vegas, it’s also fueling a revival of ‘the American dream’ of home ownership. “With the tremendous growth and development taking place now in Las Vegas – upwards of $15 billion – it not only brings construction work, but also jobs for supporting and complementary industries, too,” he explains. “Those jobs mean security and improved financial resources that make it possible for people to seriously consider owning a home – either again, or for the first time.”

The growth Piette is referring to is happening throughout the valley in both gaming and non-gaming sectors. It includes the addition of two major professional sports teams – The NHL Vegas Golden Knights, and the NFL Las Vegas Raiders – whose $1.9 billion stadium will begin construction soon; the $4 billion “Resorts World” casino moving forward on the old Stardust site; a $1.5 billion expansion of the Las Vegas Convention Center; and huge growth in medical services, such as the $1.5 billion Henderson Integrated Healthcare Center.

“It’s no secret – Las Vegas is back and our economy is strong. Our city has once again staked a claim to being one of the best places in the country to work, to live, to put down roots and to own a home. At the same time, people have recovered their credit and financial bearing so that now, not only are many ready to own a home again – but an entire new generation of homebuyers has come of age in the meantime.

“But the one thing I think we’ve all learned during these past years is how important it is to be wise with our finances and make sure we get real value for our money – especially with a major purchase like a home,” Piette explains. “Most people don’t realize, though, that it’s not only the home itself that’s the expense – the mortgage loan can be costly, too . . . especially if you choose the wrong mortgage lender.

“That may sound like a marketing pitch, but it is actually a fact many buyers don’t realize. The truth is, a borrower can go to two different lenders, get the exact same loan terms and interest rate – but one of those lenders will cost them – right out of their pocket – from $4,000-$8,000 or even more. Think about that: Same loan. Same interest rate. Same terms. But with one lender, you’re out thousands of extra dollars. Why? Fees. It’s all about the loan fees they charge you that go right to that lender’s own bottom line.

“At Premier Mortgage, we realize that many borrowers don’t know what to look for or which questions to ask when they need a loan. That’s why we make it a point to explain it in simple terms: To find the right mortgage loan, (1) Shop around with two or more lenders, (2) Compare interest rates, (3) Compare fees. Because in most cases, those are the only things you need to consider to make sure you’re getting the right loan for the lowest cost,” confirms Piette.

“As a mortgage broker, Premier Mortgage Lending is able to offer a true “No Fee Mortgage Loan.” That means we charge $0 for Loan Origination, Underwriting, Document and Prep fees – items that other lenders may charge thousands of dollars for. We also offer a wide variety of loans for borrowers with different financial needs – from our “One Percent Down” to our “Another Chance Nevada” loan programs – and many more.

“Remember – getting a mortgage loan isn’t like shopping for insurance,” continues Piette. “The “you-get-what-you-pay-for” concept doesn’t apply here. With insurance, you may choose to pay a higher premium to get better coverage. But with a mortgage loan, paying more only means . . . you’re paying more. Not that you’re getting a better loan. And what’s the advantage in that to you?”

If you’d like to learn about all the mortgage loan opportunities available to you from locally owned, Las Vegas-based Premier Mortgage Lending – including their true “No Fee Mortgage Loan” – visit their website at www.PremierMortgageLending.com, or call (702) 485-6600 to schedule an appointment.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Exactly What Does a Mortgage Loan Cost You?

How about today, we talk about real numbers? We know you see a lot of mortgage company headlines and advertisements that talk about how they’ll give you “the best interest rates, the best service, the best” – well you name it, they’re always “the best” – have you ever noticed that?

“Of course, it’s one thing to “say” you’re the best choice for a mortgage loan – but it’s something entirely different when you back up that claim with facts,” explains Rick Piette, owner of Las Vegas-based Premier Mortgage. “And backing up that claim is what we’ve been doing for a long time at Premier. You can see it in the loan programs we offer, the videos we created to make it easier for people to understand how mortgage loans work, and in the testimonials and repeat business we receive from our customers.

“Yet even with all that, sometimes it all gets so confusing that you just want sit down and compare the actual dollars and cents to figure it out for yourself, right? So we’ve prepared a couple of “apples-to-apples” (so to speak) chart that helps home buyers see exactly how Premier Mortgage Lending stacks up against other lenders.

“Let’s start out with the home – and set up the parameters that we’ll use to compare,” continues Piette. “Like this:

Home Purchase Price: $250,000
Loan Amount (90%): $225,000
Length of Loan: 30 years

“So far, it’s pretty simple. Let’s see if we can keep it that way.

“Now, let’s consider interest rates –so that you can see how your monthly principal & interest payment would change at different rates. Why does this matter? Because not all lenders charge the same interest rate. That’s the reason at Premier Mortgage, we tell our customers the two most important things to compare when shopping for a mortgage loan are this: The fees and the rate. (And trust us, we’ll get to the fees in a moment.)

“For a 30-year, $225,000 loan, let’s assume a current mortgage rate of 4.00%. That means your payment would be $1,074.18 per month.

But the table below shows you how much that payment amount increases as the interest rate rises. Not only in the cost to you each month, but it shows how that cost adds up over time – for 5, 10, 20, or 30 years (depending on how long you live in that home).

Interest RatePaymentIncreases ByOver 5 YearsOver 10 YearsOver 20 YearsOver 30 Years
4.25%$1,106.86$32.68/month$1,960.80$3,921.60$7,843.20$11,764.80
4.50%$1,140.04$65.86/month$3,951.60$7,903.20$15,806.40$23,709.60
4.75%$1,173.71$99.53/month$5,971.80$11,943.60$23,887.20$35,830.80
5.00%$1,207.85$133.67/month$8,020.20$16,040.40$32,080.80$48,121.20

“Now you can see that even a slight change in the interest rate can end up costing you a lot of money – right out of your pocket each month – as well as over the long-term.

“From here, let’s take a look at the other most important number to compare: The Fees.

“The reason that the cost of Fees can vary from one lender to another is usually because of the type of lender you choose. On our blog, we’ve written several articles in the past that explain the difference between Banks, Mortgage Banks – and Mortgage Brokers (Premier Mortgage Lending is a Mortgage Broker, by the way). We invite you to read more about how those differences can affect you where it counts – in your wallet.

“But for now, let’s consider a few of the most common fees that borrowers are charged – and you’ll find these figures on the Loan Estimate that your lender provides to you.

“The table below shows you what those fees are called, and what the typical charges are for a Bank or Mortgage Banker, vs. what Premier Mortgage charges on a standard mortgage loan. (Keep in mind, these are fees your lender charges you at close of escrow – just for the ‘privilege’ of lending you money and charging you interest for it.)

The FeesBank or Mortgage Bank CostsPremier Mortgage Lending Costs
TOTAL:$3,245 - $5,945 + Up$0.00
Loan Origination Fee (1%-2%)$2,250 - $4,500$0.00
Processing Fee$495 - $695 & Up$0.00
Underwriting Fee$250 - $500 & Up$0.00
Document Prep Fee$250 + Up$0.00

“As you can see, for a $225,000 mortgage loan – these fees alone can cost a consumer thousands of dollars in unnecessary expense that comes right out of your pocket. Considering all the other legitimate costs that homebuyers are required to pay at closing such as recurring costs – like taxes, insurance, etc., and closing costs – like title search, title insurance, flood determination fee, transfer tax, etc.; when lenders choose to add such expensive and arbitrary costs, well . . . we just don’t think that’s right,” explains Piette.

“The bottom line is that despite the ‘smoke and mirrors’ that some lenders like to confuse you with when talking about their mortgage loans – any borrower can still make their way through it all to find the real numbers – which leads them to best deal. And if they take just a few minutes to educate themselves – they can save thousands of dollars in the process,” Piette continues.

“At Premier Mortgage, that’s what we help our customers do every day. No smoke. No mirrors. Just the facts, and the reputation to back them up.”

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Your Bank Says You Don’t Qualify for a Mortgage Loan. Now What?

denied mortgage loanWhen it comes to getting mortgage loan approval, most people don’t realize that there are two types of lenders: Those who say “You don’t qualify.” And those who say “You don’t qualify – yet.”

“That really is true, and there are a few reasons for it,” according to Rick Piette, owner of Premier Mortgage Lending based in Las Vegas. “In our experience – and we’ve had a lot of it over the years in Southern Nevada – it not only depends on the kind of lender you go to, but also how committed they are to you, your loan, and your personal situation.”

One of the main reasons that borrowers may run into the “You don’t qualify” type of lender is because they chose a bank or mortgage banker to apply for their loan. According to Piette, because these lenders only sell their own loan products – if a buyer doesn’t qualify under their specific guidelines, there simply are no other options.

“But with a mortgage broker like Premier, there are many other home loan opportunities to explore,” he explains. “The reason for that is that with a broker, a buyer still only fills out one loan application – but the broker can use that single loan app to shop around with many lenders – and find the best fit for each client.

“The truth is, not everyone’s employment or financial history will fit into the stricter guidelines of a bank’s loan requirements. But that doesn’t have to mean a ‘thumbs-down’ to getting a mortgage loan. Many other lenders have programs designed just for buyers with unique situations. That’s where a mortgage broker’s connections can make all the difference – by knowing the different loans that are on the market what options are available for their customers.”

As Piette explains, “It may take some creative thinking to find alternatives if the first path doesn’t work out, but that’s one of the reasons Premier Mortgage is so good at what we do. We’ll keep at it until a solution is found – so if a client doesn’t get loan approval the first time, that doesn’t mean it’s the end of the road.

“Our loan officers will work with a client often for as long as it takes. That could mean finding a different loan, working with them over time to help them raise their credit score, or helping to provide tips on exactly how to change their financial situation to that it will fit into a specific loan’s parameters.

“We’ve worked with thousands of homebuyers in Southern Nevada, and we’re proud that we can offer the best rates and no costs with our “No Fee” loan. But we also created our “Another Chance Nevada” loan program to help those who have a foreclosure in their history – or even if they just closed on a short sale yesterday. But there are also many home loan options that lie between those two extremes, and Premier Mortgage Lending helps borrowers find the one that works best for them.”

The important thing to remember is that Premier Mortgage isn’t big on saying just “no.” “We know the mortgage business better than that,” Piette adds. “And in our experience, there’s almost always a way to help a customer get into a home of their own.”

For those looking to purchase a home in Southern Nevada, get additional information about Premier’s “Another Chance Nevada” financing program by visiting their website at www.AnotherChanceNevada.com. Or, to schedule an appointment to discuss what mortgage loan options are available for your personal situation, call (702) 485-6600, or apply online at www.premiermortgagelending.com.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

1% Down Mortgage Loan Makes Renting a Thing of the Past

One Percent Home Loan

Let’s face it, owning a home really is a big deal – and not only for the financial benefits it can bring. (Although really, we think that should be reason enough!) There’s also a significant emotional boost when you’re handed the keys to your very own home. There’s an incredible sense of accomplishment, of knowing you’re providing a secure foundation for your family, feeling a part of the community, and having the ability to build the life you choose. It can literally affect everything else going on in your life and that of your family.

But surprisingly, many people just make the assumption that buying a home is something that’s out of their reach. In fact, some studies show as many as 50% of renters would prefer to own rather than paying a landlord each month – but they never even inquire if they’re eligible for a home loan.

To Rick Piette, owner of Las Vegas-based Premier Mortgage Lending, that’s just giving up on your dream. “Sometimes, people don’t think their credit is good enough; or often, they think it means saving up for a big down payment plus a lot of closing costs – and they’ll just figure they’ll never be able to come up with that much money at once.”

But now there’s a way to get into a home without that big cash outlay. In fact, buyers can now buy a home for about the same as the cost of moving into a rental apartment or home – with Premier Mortgage’s new “Conventional One Percent Down with Equity Boost” mortgage loan.

“This loan program is successfully turning many renters into homeowners. And if you look at the numbers, it’s easy to see why,” explains Piette.

“Imagine finding a home to rent for $1,500/month. By the time you pay the first and last months’ rent, plus security, cleaning, pet, and other deposits, it’s probably going to cost you $4,000+ just to move in.

“But what if instead, you buy a $285,000 house. Your down payment will be $2,850, and your total monthly mortgage payment (with taxes and insurance) will be about $1,750. However, since you gain tax advantages by owning, your tax-adjusted payment (assuming a typical 25% tax rate) would be under $1,400 per month. That means you’ll actually save money on both your initial investment cost and your monthly payment.”

“It gets even better, though,” Piette reveals. “It’s a 30-year, fixed conventional loan, so the mortgage payment never changes. It also falls within our “No Fee” loan structure, which means borrowers pay $0 for Loan Origination, Documents, Underwriting, and Prep fees.

“And the icing on the cake? At close of escrow, the lender contributes an additional 2% down, so as soon as the buyer is handed the keys, they have 3% equity ownership, not just 1%.”

“The bottom line is that our 1% Down program takes a lot of the “scary” out of getting a mortgage loan,” Piette continues. “And when you compare the numbers of renting vs. buying with this loan, it’s tough to come up with an argument not to buy a home!”

To learn more about the qualifying conditions for this loan, visit Premier’s website at www.1PercentLoan.com. For additional information or to schedule an appointment to discuss Premier Mortgage Lending’s many other available loan programs, call (702) 485-6600. Or, apply online at www.premiermortgagelending.com.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Homeownership in Las Vegas is Still Affordable – and Now Even Easier

homeownership in Las Vegas

In a city with so much wide open space, it’s not surprising that Las Vegas evolved “out” instead of “up.” Even though recent years have seen resorts and hotels on the Strip head more in the direction of hi-rises (because there’s only so much Las Vegas Strip real estate) – our city is so unique and diverse that we don’t have the same housing limitations as other places (think San Francisco and New York).

“That’s one of the reasons that homeownership in Las Vegas is still affordable. Jobs aren’t all concentrated in one section of the city, they’re all throughout the valley,” explains Rick Piette, owner of Las Vegas-based Premier Mortgage Lending. “That makes it possible for people to take advantage of reasonable home prices that can be found in all corners of Las Vegas. And having a place to call your own is still not only highly desirable – it’s doable.”

In fact, it’s even more doable now than it has been recently – with the introduction of Premier’s new 1% Down Loan Program.

As Piette explains, “Right now, there are two huge demographics entering the home buying market: Millennials, with some 61% of prospective home buyers this year under the age of 35; and Baby Boomers – those 55+ who are making significant life changes that include relocating, downsizing, and/or retirement plans.

“For a long time, many assumed that younger generations would bypass homeownership opportunities altogether, but obviously, that’s not the case,” continues Piette. “Why? For the same reasons that applied for previous generations: Marriage, family, space, privacy, financial security.”

“But there has been one hurdle many have had to overcome: Saving up a 10-20% down payment to qualify for a loan. That’s caused many to delay their desire to buy a home for years. However, I’m happy to announce that now – here in Las Vegas – Premier Mortgage has removed that obstacle. Our new 1% Down Loan Program is changing lives and bringing the pride of homeownership to buyers of all generations,” Piette explains. “And perhaps most surprising to many is that this loan really is exactly as it sounds.

“Not only does it require only 1% of the purchase price as a down payment, but that amount can even be a gift – which means there’s no need to document the long-term accumulation of a large down payment in your bank accounts. Plus – and this part is real, even though it sounds hard to believe: The lender contributes an additional 2% down, so when you close escrow you immediately have 3% equity.

“It’s also a 30-year, fixed conventional loan – so there’s no adjusted payments over time,” continues Piette. “Your mortgage payment is a firm amount. And by taking advantage of the current low interest rates – buyers realize they can even afford to buy more home than they might have thought.

“Even better – buyers are finding they can buy and own a home for less money than they would spend on just the rent and deposits needed to lease a home. That’s an eye-opening discovery for most people!”

Learn more today about Premier Mortgage Lending’s 1% Down Loan Program by visiting www.1percentloan.com. You’ll discover more details about the benefits and requirements of this program there – then call us at 702.485.6600 and we’ll help you determine if you quality for this great opportunity.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Proof That Buying a Home is Smarter Than Renting

Home buying

If you rent a home in Las Vegas, you probably located that home through the usual methods. Checking online ads, driving neighborhoods, scanning through Zillow, Trulia, and other similar sites to find one that works for you. Or perhaps just to find one at all – since rental homes in Las Vegas are in high competition, and each one usually has multiple applicants.

“During that process, you probably couldn’t help but notice (especially on the real estate sites) the estimated value of those homes, or how much they last sold for,” explains Rick Piette of Premier Mortgage Lending. “Those well-placed ‘home financing’ ads caught your eye, and somewhere along the line you started thinking, “Jeez – the mortgage payment would be less than the rent!”

“And therein lies the point. In fact, we’re not telling you anything you don’t already know – because it’s no secret that owning a home is infinitely better than renting, for many reasons. Not only stability and security for your family, but financial benefits, equity building, and more, Piette continues. “Keep in mind, too, landlords wouldn’t be very smart if they rented their properties for less than their mortgage payments, would they?

“So, what is it that stops most people from home buying – when all indications are that it’s the smarter decision? In almost every case, it’s fear,” explains Piette. “Fear that they don’t have the down payment saved up, fear that they won’t qualify for a mortgage loan – or both. But as a FDR once reminded us, “We have nothing to fear but fear itself.” And that’s true- especially when it comes to getting a mortgage loan.”

“That’s why I’m excited to share the news about Premier Mortgage Lending’s new 1% Down Loan Program. This loan is helping many people who shared those fears leave the uncertainty and high cost of renting behind to step into a home of their own – and it’s simply life-changing,” Piette reveals.

How does this new “Conventional One Percent Down with Equity Boost” loan work?

• Requires only 1% of the purchase price as a down payment.
• No savings? No problem. This 1% down payment can be in the form of a gift from a family member.
• The Lender adds another 2% down on your home on your behalf. (You’ll instantly have 3% equity in your home at closing.)
• It falls under our true “No Fees” program.
• 30-year, fixed rate loan.

“To be honest, even I wasn’t sure if this loan was as good as it seemed – until I started helping our borrowers use it to buy a home. And I can confirm that it’s every bit what it promises,” adds Piette. “Our 1% Down Loan is really having an impact for Las Vegas homebuyers – making the expensive (and non-recoupable) costs of renting a thing of their past.

“If saving up for a 5, 10, or 20% down payment has been your biggest hurdle to buying a home – then we need to talk. Because you have the power to change your life and start building financial freedom, and Premier Mortgage is here to help make that happen,” Piette assures.

To find out more about how Premier Mortgage may just be the best thing to happen to homebuyers in years – visit www.1percentloan.com for more details and see if you may qualify for our true 1% Down Loan Program. Then call us to find out more at 702.485.6600.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

First-Time Home Buyers: It’s Easier Than You Think

first-time home buyers

Did you know that 87% of non-homeowners say they’d like to buy a home in the future? And that same 87% believe that the minimum down payment required to buy a home is a 10% of the purchase price? That’s a startling statistic. It’s also one that is causing many first-time home buyers to stop their efforts to become homeowners often before they even begin.

“In fact, for the past three years, the median down payment for first-time home buyers has been 6%,” explains Rick Piette, owner of Las Vegas-based Premier Mortgage Lending, “and if that’s the median, it means many put down even less than that.

“So, if someone is looking at buying a home or condo for $200,000, that’s a difference between coming up with $12,000 (6%) – or $20,000 (10%). And for a first-time home buyer, that gap obviously presents a mental roadblock about their ability to buy a home. Which is really unfortunate, because rather than seeking out solutions about how they can become homeowners – they’re settling for paying high rents far longer than they should.

“For those who have never owned a home of their own – even if the down payment wasn’t an obstacle – there’s no doubt it can seem mind-boggling to sort your way through all the steps involved. But what many don’t realize is that by choosing the right professionals to navigate that path, the entire process can be made much easier.

“First, finding a knowledgeable Realtor® ensures that you have someone on your side to help you find the right home, in the right place, at the right price. Your Realtor® handles all the documentation and negotiations, and since they work for you – they make sure that all your rights are protected and that no surprises are going to pop up to cause you problems down the road,” continues Piette.

“Getting a mortgage loan requires the same professional expertise. But it also means making an effort to shop around for the best rates. Of course, this might be exactly where the first-time buyer gets stuck – because how do you “shop around” for the best loan, when you don’t know what you’re shopping for?

“That’s why it’s good to know that Premier Mortgage is one lender who wants to help people learn to find the best deal themselves. We don’t want you to just take our word for it that we have the best rates, the best loans, and the best service,” explains Piette. “Because nothing makes us happier than being able to show a borrower exactly where and how we can save them money compared to other lenders.”

To help borrowers and take the ‘mystery’ out of getting a home loan, Premier Mortgage created their www.KnowBeforeYouOweNevada.com website. Here, borrowers can discover what the differences are between loans and lenders, what figures to compare, how to ask for a quote, and what questions to ask your mortgage lender.

“All that information is right on our site – explained in a series of short videos that only take 15 minutes to watch – but will help consumers save literally thousands of dollars when they get a loan,” reveals Piette. “That’s not an exaggeration, either. Our “No Fee” mortgage loans actually save our customers from $8-10,000 or more – just on the cost of getting a loan. Those are real numbers that first-time buyers should pay attention to – because not having to come up with that extra cash-out-of-pocket at escrow closing – can also be the difference between getting a loan approved, or having it denied.”

To find out more about how Premier Mortgage may just be the best thing to happen to first-time homebuyers in years – visit http://www.PremierMortgageLending.com– and be sure to make a special stop at www.1percentloan.com to see if you may qualify for our true 1% Down Loan Program. (Seriously, it’s worth checking out!) Or you can always contact Premier Mortgage Lending directly at 702.485.6600.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

All That Stands Between You and The Home You Want is 1%

1 Percent Down

Imagine if only one month’s rent could get you into a new home. Can you picture it? You and your family – living in a home of your own? No more landlords. No more apartments. No more worrying about rent increases. And finally being able to hang a picture, paint a room, or plant a tree without getting “permission.”

If that sounds like a dream come true – hold onto that thought. Because now, Premier Mortgage can make that particular dream a reality.

“We now have a 1 Percent Down loan program that truly is exactly that,” reveals Rick Piette, owner of Las Vegas-based Premier Mortgage Lending. “And not only are we helping people become homeowners with this program – they’re also gaining an extra 2% equity at close of escrow.

“It all sounds a bit too good to be true, I know. And to be honest, when I was first presented with this loan program, I spent a lot of time playing “Devil’s Advocate” – trying to find out what the catch was. But I’m here to say it’s the real deal. No tricks, no last-minute surprises, no catches at all. It works exactly as it’s described – and buyers are taking advantage of this loan program with us every day.

It’s called the “Conventional 1 Percent Down With Equity Boost Program” – and here’s how it works:

• The Buyer’s down payment is 1% of the purchase price. (Example: $250,000 home = $2,500 down.)
• The Lender puts an additional 2% down on your home on your behalf. ($5,000.)
• So when you close escrow, you’ll instantly have $7,500 of equity in your home – not just $2,500.
• This loan also falls under our “No Fees” program – which means $0 for Loan Origination, Document, or Underwriting Fees. (With most lenders, this can add up to 2% of the purchase price to your closing payment.)

“Those are some pretty amazing benefits,” states Piette. “And the most common question I get from customers is “Why? Why would the lender put 2% down, too?”

“The answer to that is simple: The lender charges an interest rate slightly higher than the going market rate – about .25%. And because this program results in more loans being made – they recoup their investment from that additional interest.

At a time when interest rates are still hovering just above record lows, and ownership rates continue to rise, that additional .25% interest is an easily affordable way to secure a home for you and your family and continue to build equity over time.

As Piette explains, “Say you were to purchase that home mentioned above for $250,000. With 1% down, and a loan amount of $249,000, at 4.5% interest your principal and interest payment would be $1,229. At 4.75%, the payment would be $1,265.

“That’s a difference of only $36/month. When you consider that (a) most rental rates cost more than a mortgage loan for the same property, and (b) it might take you 1 to 2 years (or even more) to save the money to put 5% down to buy a home (in this case – $12,500 – and that’s if prices and interest rates don’t rise in the meantime) – it simply doesn’t make sense not to take advantage of this loan program,” concludes Piette.

To find out more about the “Conventional 1 Percent Down With Equity Boost” loan program with Premier Mortgage, visit www.1percentloan.com, or contact Premier Mortgage Lending directly at 702.485.6600.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

‘Tis the Shopping Season! Is Your Mortgage Loan on Your List?

mortgage loan

The holiday season is upon us full force. Actually, it’s been coming on for a while, hasn’t it? When you start seeing Christmas decorations in the stores before Halloween has passed, you know that retailers are competing in vying for your dollars by offering one great deal after another. Which is great! Because with all the Before Thanksgiving, Black Friday, Shop Small Saturday, Cyber Monday, and Christmas sales going on, you can make darn sure that you’re finding the best deal you can for all the gifts on your shopping list.

Oh – if we just had one wish this holiday season, it would be that people who need a mortgage loan would follow that same logic! Because when it comes to getting a mortgage – it should be just like anything else you buy: Shopping for the best deal.

“Everyone at Premier Mortgage has been sharing that news for quite some time – but we know there are still plenty out there who don’t know that you can get a deal on a mortgage loan,” explains Rick Piette, owner of Premier Mortgage Lending in Las Vegas.

“How do we know? Because we still surprise new customers when they discover our true “No Fee” loans really do cost thousands of dollars less than the lender their Realtor or home builder sent them to. Yes, there is a difference between mortgage lenders – and it’s not that difficult to sniff out the best mortgage loan deal. In fact, we’ve created a website that explains just how to do it,” adds Piette.

The website Rick Piette is referring to is http://www.KnowBeforeYouOweNevada.com. Created for local Nevadans here in Las Vegas, it’s based on the premise of the Consumer Financial Protection Bureau’s (CFPB) website about educating consumers about the rights of borrowers when it comes to getting a mortgage loan. But Piette expanded on that idea by providing a collection of short, easy-to-understand videos that explain things such as:

• Understanding the actual cost of getting a home loan
• How to compare Loan Estimates, what to ask and what information to look for
• Seller Incentives and how they can affect the cost of your loan
• The differences between lenders
• “Visible” and “Invisible” loan charges (we told you not all lenders are the same!)
• What’s a Marketing Service Agreement, and how it can cost you money
• How your Real Estate Agent’s lending referrals can save you – or cost you – money

According to Piette, “This collection of videos altogether add up to only about 15 minutes of time – but the information contained in them is priceless. It gives home buyers an enormous advantage when it comes to not only getting the best loan for their circumstances – but saving an incredible amount of money while doing it.

“Truly, it’s not uncommon for us to save our clients anywhere from $4,000 to $10,000 – or even more. And the icing on the cake: They’ll get the same loan for less – with the best, friendliest, and most personalized service around.”

Since so many Premier Mortgage customers return over and over again for their future mortgage loan needs, and waste no time referring their family and friends to do the same – it’s a pretty safe bet there are good reasons for that.

“At Premier, we pride ourselves on providing savings, service, and long-term industry expertise,” Piette adds. “So far, we’ve found those to be our clients’ favorite reasons for coming back.”

Find out more about Premier Mortgage Lending’s true “No Fee” mortgage loans, as well as their many other products and services by calling (702) 485-6600. Their experienced loan officers are there to help with your questions and can assist you in navigating from signed purchase agreement – to getting the keys to your new home.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

What a Year It’s Been for Homeownership

looking back at the housing market

All the news and events going on in the country seem to have made a lot of us gaze back on all that’s happened in 2016 and think “Thank Goodness It’s Almost Over!” We can understand that. But it’s precisely because of that sentiment that we’d like to bring up some of the good news from the past year that we reported on in our blog posts about the state of the housing market. What’s more, as far as we can see, there’s good reason to believe that there 2017 will be great, too. Take a look and see what you think.

The Las Vegas Housing Market Has Returned
In fact, not only the housing market, but the economic status of our exciting city has bounced back from the years immediately following the Great Recession. For a long time, it seemed that the country had given up on Las Vegas – but they didn’t count on Las Vegas not giving up on itself. But we’re back, baby! And with the lowest unemployment rate since August 2008, the new T-Mobile Arena and our very own NHL hockey team (Go, Vegas Golden Knights!). Then there’s the opening of major new hotel/casinos and the start of more, new medical facilities, the possibility of an NFL team on the horizon (and did we mention IKEA?). With all that came people, families, and jobs. And following close on the heels of everything was a rise in the construction and sale of new homes, the resale market ticked up, and foreclosures came down. Plus, the year’s run of record-low interest rates helped homeownership return to numbers that naysayers never believed would happen again. Additionally, the slow and steady rise of real estate values in Las Vegas has helped many long-time homeowners escape the ‘underwater borrower’ scenario and begin to return to firm financial footing, too. In short – it’s clear that people are rebuilding their lives in Las Vegas, and thanks in no small part to the entrepreneurial spirit of our residents.

Mortgage Standards Loosened Up
Following the economic crash (can you believe it was nearly 10 years ago?) – banks and other lenders tightened their belts and made the task of obtaining a mortgage loan much more difficult than it had ever been. Partly due to new regulations, partly due to economic and social pressures – the fact is, the restrictions put in place were at such a high threshold that getting a loan became an onerous task – even for those who were gainfully employed and had good credit scores. As for those who had been financially harmed by the housing crisis, the thought of owning a home again seemed an impossibility. But 2016 saw mortgage lenders nationwide begin to ease their lending guidelines – with FHA and VA following that lead, as well. As a result, and with the passage of time that resolved many credit issues incurred due to the recession, more and more people are able to escape the rental market, invest in themselves and their family, and begin planning for the future by buying a home of their own.

Millennials Join First-Time Buyers in Huge Numbers
We mentioned this in a recent blog post, but it bears repeating here: According to recent reports from the National Association of Realtors® and Zillow – the market share of first-time buyers has risen to 35% of all homes purchased. (Big news when so many headlines reported a lack of homes in this price range!) Even more notable is that 61% of those buyers were under the age of 35. Many new statistics have confirmed this trend and further indicated that not only weren’t those Millennials going to be living in their parents’ basement forever (did you really think they would?) – but many were actually choosing to wait to buy until they could start with what would normally be considered a “2nd move up home” (which leaves that many more ‘starter homes’ available for the buyer’s market).

Since the election, many industry experts forecast that the 2017 housing market will continue to grow, but at a more moderate pace (which is something we’re all in favor of, quite honestly). Western cities will continue to lead the nation in home sales and pricing. Interest rates are anticipated to rise slightly, but since 2016 saw the record lowest home mortgage rate occur in August 2016, that’s not the worst news we’ve heard all year!

All things considered, Las Vegas and its housing market have bright futures to look forward to – both in 2017 and beyond. The even better news – is that Premier Mortgage is here to help homebuyers get the most value for every dollar. How? By offering “No Fee” loans that make sure you spend less of your hard-earned cash towards the cost of getting your mortgage loan – and more into the home you’re buying.

Find out more about Premier Mortgage Lending’s true “No Fee” mortgage loans, as well as their many other products and services by calling (702) 485-6600. Their experienced loan officers are there to help with your questions and can assist you in navigating from signed purchase agreement – to getting the keys to your new home.

Premier Mortgage Lending, NMLS #393282, is located at 701 N. Green Valley Pkwy., Suite 125, Henderson, 89074. The full-service lender is a member of the Las Vegas, Henderson, and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.