At Premier Mortgage, we completely understand that most people don’t consider a mortgage loan to be “sexy.” At least not in the same way that a new car or new home can add excitement to your life. On the other hand, the path to acquiring many of the bigger-ticket items like that doesn’t necessarily need to be exciting. It just needs to be as cost-effective as possible. (Although we would take issue with the idea that “saving money” isn’t ‘sexy’!)
Unfortunately, it seems that for all the headlines and advertisements out there about the all the reasons to buy a home today – many people still don’t seem to ‘get’ the idea that their ability to buy a home truly is within their grasp; perhaps more so than ever before.
“Why? Because at no other time in the U.S. have mortgage interest rates remained so low for so long,” explains Rick Piette, owner of Premier Mortgage Lending in Las Vegas. “Since 2011, the average 30-year mortgage interest rate has been below 5%, frequently dropping below 4% in that period.”
In fact – as the 45-year graph above shows – even those who bought a home in 1970 paid higher mortgage interest rates than those available to homebuyers today.
“Still not impressed? Then let’s look further back in time with the data from this CNBC article – which shows that mortgage interest rates have never been this low in the history of our country.
“That’s a pretty stunning statement – and it speaks volumes about the opportunities available to 2017 homebuyers,” continues Piette. “Because as we explained in detail in a recent article, even minor variations in a mortgage interest rate can raise – or lower – the cost of your loan by thousands of dollars in a very short period of time.
“However, the interest rate is only half of that equation. The other half is the fees that many lenders will charge customers simply for the privilege of obtaining a loan from their company. (Seems like a strange way to earn customer loyalty, doesn’t it?)
“Those fees can add up to literally thousands of dollars that a borrower has to pay out-of-pocket and right at close of escrow,” Piette explains. “And it’s a bit like adding insult to injury, if you ask us. At least with interest rates, a variation may cost you more money over the long-term. But with loan fees, banks and mortgage bankers make sure they get their ‘pound of flesh’ from you (so to speak) – right up front.
“That’s why it’s so important that homebuyers pay attention to both interest rates AND fees. And even more important they know that some lenders – like Premier Mortgage – don’t charge any fees at all on traditional mortgage loans.”
For those who yearn to buy a home – but think it’s beyond their financial capabilities – you owe it to yourself to make the call to one of the experienced Loan Officers at Premier Mortgage Lending. They’ve been making ‘the American Dream’ come true for Las Vegas residents who never though it could happen. And often, the very things that tip the scales from “Sorry” to “This home is yours!” are the cost savings Premier has to offer with low interest rates and No Fee Loans.
“Owning a home today is simply a smarter way to spend your money,” confirms Piette. “Stability, community, building financial security and wealth – all that and a lot more are among the benefits homeowners enjoy. So if you’ve ever even thought about the possibility, then we should talk!”
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.