Tag Archives: No Fee Mortgage

Not So “Quick and Easy” Online Lenders Can Cost Borrowers Thousands

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Lenders make it sound so easy. Simply fill out a quick online application, or even do it over your phone – and “poof!” – you have loan approval.

At least, that’s the cover story. But as with most things that might seem too-good-to-be-true, this one usually is, too. Not because it’s necessarily difficult to get loan approval, but because these companies aren’t really telling the whole story.

Rick Piette, owner of Las Vegas-based Premier Mortgage Lending explains it this way: “The simplest analogy would be to remind you about the last time you went to buy a new car.

“Remember how you saw and heard ads that promised you a “great deal on a new car”? Perfect timing, because you were in the market for one and this sounded like the perfect solution. But then you walked in the door and things, uh, ‘changed.’ A bunch of pesky details came up. It turned out, the deal they advertised wasn’t for the type of car you want, or you had to pay for more options than you wanted. Perhaps it required a certain credit score you didn’t have – so the payments and interest rate were higher than you were expecting. And then there was all the fine print about the warranty and the financing terms.

“The point is, they got you in the door with big promises, and even though the story changed once you were there, you already felt “invested” in the process. So maybe you stayed, accepting each of their revisions to the deal you were expecting one by one – simply to get it all over and done with.

“And there’s nothing really wrong with adjusting your expectations in a transaction – if the cost and the stakes aren’t more than you’re willing to pay. Sometimes it’s really more a matter of what your time is worth, so if we pay a little bit more for a car we really love, that’s not necessarily going to be a deal-breaker.

A home, however, is a different story. Large national banks and online mortgage companies use those same tactics to ‘get you in the door’ to capture your business – hoping that as they slowly change the details of your loan’s cost, rates and the details, borrowers will (again) be too invested in the process and will just accept it all because it’s easier than starting over somewhere new.

““Gotcha.” According to Piette, “That has to be how those lenders feel. They’ve just added another loan to their quota, another bonus to their paycheck. You just became a number, a source of income, and once they’ve hooked your application they know you’re more than likely to stay – no matter how smooth (or not) you loan process goes. It’s a sad commentary, but it’s true more often than we’d like to admit.”

However, if there’s one thing that Rick Piette would like to say to every mortgage borrower, it’s this: “Picking the wrong mortgage lender can unnecessarily cost you thousands of dollars out of pocket – because all mortgage lenders are not the same. Taking an hour or two of your time to shop around to compare interest rates and fees can easily turn into the best ‘hourly rate’ you’ve ever paid yourself!” (To see how easy it is to compare mortgage loans, visit our KnowBeforeYouOweNevada website.)

How does that work? Like this: With a bank or mortgage banker, usually your only options are for the loan programs their own institution offers. That means that no one is ‘competing’ for the opportunity to make your loan – or trying to get you the best rate and fees. It’s all done in-house, at the cost that big institution wants you to pay.

“But for a Mortgage Broker like Premier, finding the best loan out of competitive options is precisely what we do. Borrowers fill out one loan application, provide supporting documents one time – and Premier shops with its network of lenders to find the best rate and the lowest fees.

“In fact, Premier Mortgage Lending even offers a true “No Fee Mortgage” – that charges borrowers absolutely $0 for Loan Origination, Underwriting, Document, and Processing Fees. As these items can add up to as much as 4% or more of your loan amount, (that’s $10,000+ on a $250,000 loan) – you can see why choosing the right lender is critical.

“These “quick and easy” lenders also fail to explain that while filling out an application takes only a few minutes, obtaining formal loan approval is a process that takes time. It requires proper documentation provided within the proper time frame, adds Piette. “There’s a sequence, problems to address, deadlines to meet – and it must all be coordinated with the seller, inspectors, escrow and title companies.”

One other thing to remember: This process takes time. If you chose an online lender, you’re working with a “company” – not a Loan Officer that’s dedicated specifically to you and your loan, as you would be with Premier Mortgage.

“Usually with an online mortgage lender, you call an (800) number, get transferred around, mail documents, and often speak to someone new each time you call. That lack of clear communication is how questions can go unanswered, problems aren’t addressed and resolved, deadlines get missed, and you may even see your interest rate and fees unexpectedly go up at the last minute – when it’s too late for you to change lenders.

“That doesn’t happen at Premier. Because you’re working with an experienced Loan Officer who lives here in Las Vegas, knows the market, and has relationships with the Realtors, lenders, title and escrow companies who will be handling your loan,” adds Piette. “Personal service like that doesn’t come over the internet. Real people, where you live, working for you – that’s the Premier Mortgage difference.”

Learn more about the experienced professionals available to help you buy that home you’ve had your eye on by calling 702.485.6600 – or visiting the Premier Mortgage Lending website.

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.

The Mortgage Industry Should Continue Evolving on the Consumer’s Behalf

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Bad things happen to good people. In fact, Harold Kushner even wrote a book on the topic a few years back. That was in 2004, when the economy and housing market were on a roll. The book itself dealt with human issues and the difficulties that we often face going through life. But we see an interesting correlation between that concept and the economic hardships so many millions of Americans experienced in recent years, as a result of the actions of the financial institutions in which we placed our trust.

“For decades, the final word on our biggest financial decision – buying a home – was at the whim of these large banking institutions,” reveals Rick Piette, owner of Las Vegas-based Premier Mortgage Lending. “They made the rules, bent them for some, broke them for others, and ignored them for many. A stigma arose in our society that caused many of us to look down on those whose credit scores were less-than-worthy, often making the assumption that if these people would just “do the right thing” – they’d be better, upstanding members of society.

“But when the curtain was pulled back in 2007/2008 as The Great Recession began – suddenly there were many more members unintentionally joining the ranks of those unable to meet their obligations, with all the falling credit scores and unimaginable loss of credit and financial stability that accompanied it.”

Piette continues, “Many discovered that the state of their credit could quickly become a life-changing variable. Suddenly, society came to recognize that it IS possible to ‘do everything right’ – and still wind up on the wrong side of a good credit score. You know, that credit score that decides your finances, the interest you pay, your insurance rates, and even where you’re able to live.

“At Premier Mortgage Lending, we have long believed that changes to the “old order” of things is not only desperately needed, but deserved – for the millions of people in our country who put their trust in a system many feel was rigged against them. That’s why we have embraced the changes introduced by the Consumer Financial Protection Bureau and why we deliberately choose to practice complete transparency with our borrowers.

“We’re also encouraged to learn about new changes we hope to see implemented soon, as proposed by industry-related organizations. It includes those designed to level the playing field by introducing more fairness into a process that gives full consideration to each consumer’s individual circumstances.

“After all – these are people’s lives being dealt with – on a huge scale. Those people are more than a three-digit score – which in millions of cases took a serious hit that was not only unintentional, but often out of their control.”

One example is this: In June 2016, the National Association of Realtors sent a letter to two members of Congress to declare their support of alternative credit-scoring models under the “Credit Score Competition Act of 2015,” a bill still to be considered by the House Financial Services Committee.

This bill would allow Fannie Mae and Freddie Mac (the government-sponsored entities that assist Americans to obtain home loans) to use scoring models other than the standardized FICO to consider loan approval – such as their record of paying rent and utilities on time (true indicators of fiscal consistency not currently tracked in FICO’s credit scoring). The goal is to assist middle-to-lower income Americans who are financially qualified to buy a home – but are unable to do so because of their FICO score (or lack of one altogether).

This is only one of many recommended changes headed for congress and led by many different homebuyer and consumer-related advocates and industries. While each is to be considered individually to determine its probable impact, we believe that pursuing these types of ‘fairness doctrines’ will not only help our economy continue to recover, but restore a large piece of humanity to those whose lives were (in some cases, irrevocably) damaged by the financial hardships of the last several years.

We’d love to hear your thoughts on this subject. News? Ideas? Recommendations? The more it’s open for discussion, the more likely change is to occur. Share your comments below.

Visit our website at www.PremierMortgageLending.com for more information about our true “No Fee Mortgage” loans. And to learn which are the most important questions to ask your mortgage lender, visit our www.KnowBeforeYouOweNevada.com website – where you’ll find quick informational videos that take the mystery out of getting the best mortgage loan for your needs.

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.

Las Vegas Bounces Back Big – Again

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There are headlines – and then there are straight-up statistics. Most of us know that the source of the news articles we read anymore is generally serving self-serving on any given position. (And if ever there is a time when this is blatantly obvious, it’s during Presidential Election season!)

But real data – facts driven by numbers and tangible, physical changes – is a much more reliable indicator of the truth. And here in Las Vegas, we can share numbers that represent a lot of great news about our town already taking place, and coming up in the very near future.

When a city is hit as hard as Las Vegas was during the economic crisis a few years back, there are only two options: Let it beat you, or use it to rise up from the proverbial ashes. Anyone who has spent any time around Las Vegans should never have doubted that we’d choose the latter. And in these past few years, we have slowly but surely continued to make gains month after month, year after year.

This is important – because as the status of our economy stabilizes and grows, so too does employment, housing, and our job market. In Las Vegas, since hitting the high watermark of unemployment in mid-2011 of 14.5%, to our current 6.1%, remarkable results are being seen.

Perhaps the most well known at the moment is the newly opened Las Vegas Arena. This $375 Million project is bringing not only major artistic talent to the city – but will quite possibly be the home to the first NHL expansion team ever to come to Las Vegas. (An announcement due to be made on June 22, 2016.) And that is BIG news.

But that’s only one of the mind-boggling new entertainment, resort, residential, and public works projects currently under way in Las Vegas or scheduled to begin soon. Overall, an estimated more than $5 billion of development and investment activity has either already begun or is on the boards to launch. After all – Las Vegas now has an IKEA of its own. Do we really need more proof than that? <wink!>

Seriously though, this return of economic growth to our valley has also prompted a rise in our previously recession-led diminishing population. And it’s at a good, consistent pace – 2% growth now, down from the more than 4% growth prior to the crash. In fact, Las Vegas is now the 28th most populous U.S. city, just ahead of Baltimore; and Henderson jumped from 71st place to 67th place in 2015.

People are rebuilding their lives in Las Vegas, where the entrepreneurial spirit is alive and well. And that means new places to live, jobs in construction, hospitality, and new industry – and as they say, a rising tide lifts all boats.

We’re a cautious people now, learning from past mistakes and working hard to keep from repeating them. That includes the state of our real estate and lending markets. The rose-colored glasses have been cast aside, new Consumer Financial Protection Bureau oversight is working on the side of consumers to ensure fairness and transparency – and Las Vegas is well on its way to rising to new heights of economically smart growth.

Premier Mortgage Lending is on the same path, helping those in search of affordable mortgages with no curtains, no sleight-of-hand – just fair, honest dealings that save consumers money. Find out more about our true “No Fee Mortgage” at www.premiermortgagelending.com.

Visit our website at www.PremierMortgageLending.com for more information about our true “No Fee Mortgage” loans. And to learn which are the most important questions to ask your mortgage lender, visit our www.KnowBeforeYouOweNevada.com website – where you’ll find quick informational videos that take the mystery out of getting the best mortgage loan for your needs.

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.

Is Buying a Home Right For You? Some Things to Consider.

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With all the upheaval of the American economy and the housing markets during the past few years, it’s only natural that those who lost a home during that time would think twice about buying another one.

And actually, that’s not only a good thing when it comes to a major investment like a home – it’s a necessary thing. With homes – as with most things in life – there’s no easy “One Answer Fits All” solution. But there are some things that those who are on the fence and undecided should consider, and those include:

The Emotional Benefits of Owning a Home

Security

There are few things more unsettling than living in a home at the whim of a landlord. The drawbacks include not knowing when/if they’ll want you to move, and if the rent will be increased (and if it is, can you afford it?). But there are other proven benefits to owning a home that many don’t think about, such as access to neighborhoods with better schools, better social and physical conditions, and single-family homes are generally maintained at a higher quality – which results in lower crime rates, too.

Pride

Owning a home is a huge accomplishment – one that still exemplifies the American Dream – and no matter what anyone may tell you, Americans do still dream of owning a home. It’s a place to call your own, that you can personalize to suit your needs and your tastes. It gives people more confidence in themselves and often spurs them to pursue even more life goals. Taking pride in not only acquiring a home but in making improvements to improve your lifestyle – that’s a really big deal. And if you’ve owned a home before, you remember that feeling.

Community

When you own a home, there is a great sense of belonging to a community that comes along with it. You’re more connected with your neighborhood, your community, the people, and even your town. You’ve put down roots and in many cases make lifelong friends. And your kids will have the security of knowing that “home” means just that. It belongs to them, and they don’t have to worry about suddenly having to change schools and reestablish their friends and lives at the whim of a landlord. Studies also indicate better school performance and youth behaviors in children who live in a home of their own, in addition to developing greater self-esteem.

Financial Benefits

Definitely worth remembering is this: Historically, the primary path that Americans have used to create wealth has been through homeownership. Not through their jobs, not through stock market investments (and certainly not by buying lottery tickets!) – but by owning a home. Just think about it, because at it’s base, it makes perfect sense: Rather than contributing to a landlord’s net worth with a rent payment, your monthly mortgage payment continually contributes to YOURS.

There are many things to think about when planning to make the leap into homeownership. Fortunately, at Premier Mortgage Lending, our experienced loan officers know what those things are. We can help you consider all the factors involved, let you know the costs of obtaining financing, and help you determine if the time is right for you to make that move.

As a locally owned mortgage broker, It’s simply what we’ve been doing for our neighbors here in Las Vegas for years. We know the city. We know the neighborhoods. And we’re the home of the true traditional No-Fee Mortgage – which means our clients save thousands of dollars when they buy a home with a Premier Mortgage Lending loan.

Visit our website at www.PremierMortgageLending.com for more information. And to learn which are the most important questions to ask your mortgage lender, visit our www.KnowBeforeYouOweNevada.com website – where you’ll find quick informational videos that take the mystery out of getting the best mortgage loan for your needs.

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.

The Difference Between Mortgage Brokers and Mortgage Bankers

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They’re two different animals – mortgage brokers and mortgage bankers. And if you don’t know the difference between them, it’s something that can end up costing you a lot of money, unnecessarily.

The truth is – not every mortgage lender is created equal. As with any business – you want to work with a reputable company that provides good service. You’re also likely to do a little online research to see what previous customers have to say about their experiences. (If there’s one thing consumers aren’t shy about, it’s letting the world know – in a very public way – how they felt about their transaction.)

“But the problem is,” according to Rick Piette, owner of Premier Mortgage Lending, “is that once you’ve gone that far, you’ve already missed the most important step: Deciding which is the right choice to begin with.”

So let’s get back to the basics with a little apples-to-apples comparison of how a Mortgage Broker compares to a Mortgage Banker.”

How a Mortgage Broker Works

1) The key advantage of a mortgage broker is that borrowers complete a single loan application – and with that information, the broker has the ability to shop with numerous banks and lenders simultaneously to find the lowest interest rate and/or the best loan program that can be structured to suit your financial goals. It’s one-stop shopping that works for you.

2) New Federal Regulations in the mortgage industry (that went into effect in 2014) – place restrictions on the amount a mortgage broker can earn on your loan. What that means to the buyer is this: A broker can now make you a true No Fee Mortgage. (Not all of them choose to do this, but Premier Mortgage Lending is one that does.)

3) Brokers are typically small, locally owned companies – consisting of people you know as part of your community, They live, work and are invested in your town – just like you. They have a low operating overhead, and with a mortgage broker, only two people will make money on your loan: The Loan Officer and the Owner.

How a Mortgage Banker Works

1) Typically, mortgage bankers are ‘direct lenders’ who offer loan programs and services from a single bank. This limits the borrower’s ability to see all the loan options available for his circumstances – unless he wants to make multiple loan applications with various banks or mortgage bankers – a task that only takes up your time and resources.

2) With new legislation passed through the Dodd-Frank Act that became law in 2014 – neither banks nor mortgage bankers are subject to earning limits on a mortgage loan. As a result, ‘invisible charges’ and ‘undisclosed income’ generates additional income for the lender that buyers may not even be aware of (but they may pay for it in the form of higher rates or higher fees).

3) Mortgage banks (and banks) are large operations with layers of low, middle and upper management. Every one of whom receives income from making your mortgage loan. So everybody gets a piece – including the Loan Officer, his Manager, District Manager, Assistant Vice President, Vice President, Sr. Vice President, and right on up the line.

What’s important to buyers is that they should be looking to find the best deal for their loan:  the one that costs them the least amount of money, either out of pocket or over the loan duration. To get there, we’d like to remind you of one very important point: A “No Fee Mortgage” from Premier Mortgage Lending is exactly that.

Unlike some loan offers that seem too good to be true (see our article entitled “Getting A Credit Towards Closing Fees”? What That Really Means.” for more information on that) – this loan product represents itself clearly : Borrowers are charged $0 for Loan Origination, Underwriting, Document Prep, or other ‘junk fees.’ And unlike mortgage bankers, the laws that govern mortgage brokers require all of our fees to be fully disclosed and visible on your Loan Estimate. (No hidden or invisible costs here.)

So when you request an initial Fee Sheet from multiple lenders, be sure to take a close look at those line items on the form. Because if they say more than $0 – you may be paying too much. Sometimes, thousands of dollars more than you need to – to get the exact same mortgage loan.

Still have questions? Rick Piette will be happy to answer them, and even if you plan to shop other lenders (which we always encourage our customers to do) – he’ll help you to understand the differences and know which questions to ask. Putting the power of choice about your mortgage loan back in your hands – it’s our mission. Visit KnowBeforeYouOweNevada.com to learn more.

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 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.

New No Fee Mortgage Can Save Homebuyers Thousands In Closing Costs

Rick PiettePurchasing a home will probably be one of the biggest and most expensive decisions in one’s life. You want to buy at the lowest cost, and the seller wants to sell at the highest price. Discovering the best mortgage deal can help home buyers to save thousands of dollars at closing time.

“Buying a home can be nerve-wracking because of all the paperwork and the money that’s involved. Finding the right home that meets your needs for a good price can be tricky, and sifting through all of your mortgage options in search of the best deal can be downright confusing,” said Rick Piette of Premier Mortgage Lending.

The first step in the home buying process, after selecting a Realtor, is getting a “pre-qualification letter” from a mortgage lender.

“Normally your Realtor will guide you to this first mortgage source. With ‘pre-qual letter’ in hand, you’ll now be able to go home shopping,” Piette said.

“But most people get so caught up in the home buying process – and don’t realize that they still need to shop for the best mortgage deal – a step that can save you thousands. You are led to believe that the loan officer who issued your pre-qual letter has to close your loan … but that is just not true.”

Piette encourages home shoppers and those thinking of refinancing to meet with a full-service mortgage broker like Premier Mortgage Lending, in addition to mortgage bankers, to become educated of all of their financing options.

“A real advantage to working with a mortgage broker is that you can obtain a home loan with no lender fees. Also a broker can connect you to multiple lending institutions with a multitude of loan products that have varying interest rates and costs. To find the best mortgage deal for your specific circumstances, take your time to compare multiple programs and their different interest rates, APRs, monthly payments for different loan amounts, and out-of-pocket-closing-cost scenarios. If you do not understand something, just ask,” Piette said, adding that his company connects borrowers to multiple lending programs including the popular no-fee traditional loans as well as second chance financing for those who have experienced a short sale or foreclosure.

“With all of this information in hand, you can make an educated, financially sound decision,” he said. “For obvious reasons, our no fee mortgage is a popular choice because its out-of-pocket costs are significantly less and we don’t charge ‘junk fees’ like others do.”

The price difference and “junk fees” can be found in the “origination charges” – one of three types of charges found in your good faith estimate. “Origination charges” can vary between lenders, unlike the “prepaid charges” (taxes, insurance and homeowners association fees) and the “title and escrow” charges which will end up to be the same regardless of the lender chosen.

“Most lenders charge one percent of your loan amount for the origination fee. If you look at your mortgage paperwork, you may notice that it’s more than the typical one percent because some lenders tack on ‘junk fees’ that are sometimes listed as mortgage processing or underwriting fees,” Piette said. “You don’t have to pay an origination fee or those ‘junk fees.’ You can save money by shopping around for a lender that doesn’t charge them like Premier Mortgage Lending.”

Piette explained that brokers’ origination fees are now considerably less than banks or mortgage bankers because 2014 federal regulations capped what mortgage brokers can charge consumers as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“These new rules are great for the consumer because it can save you money on one of the biggest purchases that you’ll ever make in your life. Where you get your mortgage loan does not really matter. What matters is finding the home that’s right for your family and not paying any more than you have to for your home or your loan,” Piette said.

The first step in finding the best loan deal is completing the complimentary mortgage prequalification process and analyzing the paperwork that is provided.

For additional information or to schedule an appointment for mortgage prequalification or refinancing, call Premier Mortgage Lending at 702-485-6600 or visit 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 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.

‘No fee’ mortgages reduce out-of-pocket costs

Changes in lending regulations combined with no-cost loans and fewer all-cash home buyers benefit Southern Nevadans in the market to buy a home.

“Many homes buyers have lowered their out-of-pocket mortgage costs thanks to new Consumer Finance Protection Bureau’s mortgage regulations that took effect earlier this year and through Premier Mortgage Lending’s ‘no fee’ mortgage program,” Rick Piette of Premier Mortgage Lending said. “The ‘3 percent cap rule’ placed a limit on the upfront fees charged by lenders to no more than 3 percent of the mortgage balance. This has reduced the cash that you must bring to the table in order to close on your home.”

Home buyers who “shop around” for their mortgage have discovered even more savings, especially those who have turned to mortgage brokers who offer multiple mortgage programs from different banks and private lenders.

“Mortgage brokers, like Premier Mortgage Lending, can help you uncover the best deal because we work with a variety of lenders and must offer borrowers the lowest possible interest rate and fees for which you qualify. We are federally regulated in what we can charge borrowers in total compensation, but the mortgage banks, through the use of secondary market profits, have no limits on what they can charge you. This gives us brokers a tremendous competitive advantage when pricing your loans.”

Among the many programs that the full-service, Henderson-based lender can offer qualified borrowers are “no fee” mortgages.

“Southern Nevadans who are looking to save out-of-pockets costs of a new mortgage or in refinancing their current one have been impressed by our new ‘no fee’ mortgage program. Through this program, you’ll still have to pay the typical mortgage fees which are the same regardless of the lender, like sales tax based on the home’s purchase price, recording fees and a home inspection. However, this program can help you save literally thousands of dollars because you avoid other fees that some lenders tack on,” Piette said.

In order to compare the actual cost of mortgages, the longtime Las Vegan advises his clients to compare the APR or the “annual percentage rate” rather than the interest rate because the APR incorporates these various fees.

According to Piette, the first step in finding the “best mortgage deal” is to participate in the complimentary prequalification process with a full-service lender. In addition to connecting qualified borrowers to a “no fee” mortgage and other programs, Premier Mortgage Lending also offers Another Chance Nevada, a program that offers credit-challenged borrowers a second chance at purchasing a home, including those who recently experienced a short sale or foreclosure.

“Becoming prequalified for a mortgage not only helps you understand your mortgage options and how expensive of a home that you may buy. It also gives you an edge in our valley’s competitive real estate market,” Piette said.

“Now is really a great time to buy a home in the Las Vegas Valley because our housing market has stabilized and many of those investors and home flippers have moved on with their all-cash offers,” he said, citing a Greater Las Vegas Association of Realtors report that showed all-cash sales were just over 34 percent in September, a tremendous decline from February 2013 when over 59 percent were cash sales.

“This is great news to those who want to buy a home to live in and, like most typical people, need a mortgage to do so. Having a mortgage prequalification letter in hand is essential because it shows the seller that you have done your research, you know your purchase power, and that you’re serious about buying their home.”

For additional information or to schedule an appointment for mortgage prequalification or refinancing, call Premier Mortgage Lending at 702-485-6600 or visit www.AnotherChanceNevada.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 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.