Tag Archives: owning a home

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.

Keeping “The American Dream” Alive and Well – With Another Chance Nevada Mortgage Financing

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Owning your own home.

That’s a powerful statement, all by itself. For some people, it’s a scary thought – for others, it’s a lifelong dream. It can conjure up many different thoughts and emotions – from gaining a sense of pride to representing grown-up responsibility . . . and pretty much everything that flows between and around those ideas.

Since The Great Recession – when untold numbers of Americans saw the value of their homes drop by huge percentages, many even losing them to foreclosures or short sales, there have been those who wonder if that particular “American Dream” is over – that perhaps its time has come and gone.

But the truth is – the dream of homeownership is still very much alive and well. And that’s because owning a home isn’t simply a ‘transaction’ – it’s a mindset and a way of life. Just ask those who lost their homes in recent years due to the housing crisis – because after having owned a home, the desire to own again is even stronger. There are no ifs, ands, or buts about it: Having a home of your own provides a sense of security, belonging, and family stability that can rarely be found any other way.

At Premier Mortgage Lending, we recognize that owning a home can be the very foundation that families build their entire way of life upon. That’s why when we saw the effect the housing crash was having on the lives of thousands of our Las Vegas neighbors, we took action. We created Another Chance Nevada, so that we could offer a mortgage alternative to those whose credit had been damaged by the recession – either through losing their home or by seeing their finances and credit rating take a hit due to the developing economic crisis.

Through Another Chance Nevada, we created a source of Private Money Financing options for those who aren’t able to qualify now for traditional financing. These loan programs do require a minimum of 20% down payment, and rates and fees will be higher than for a traditional home loan. However, it’s an excellent opportunity for buyers to obtain long-term financing at competitive rates. These loans are free of any predatory loan features — and best of all, there are no pre-payment penalties.

Why is that the best part? Because it means that as you continue to work on raising your credit score and financial stability – as soon as you’re able to qualify, you can refinance to get a traditional loan at an even lower interest rate.

In fact, we even have the perfect mortgage loan for after you recover financially, too – because Premier Mortgage Lending is the home of the true No Fee Mortgage Loan. That means Zero: Loan Origination, Underwriting, or Document Fees. And you’ll still find the most competitive interest rates – so there’s a good chance you’ll end up saving thousands of dollars on your mortgage loan. (And yes – we encourage you to shop around and compare rates when that time comes. You don’t have to just take our word for it . . . you can find out for yourself!)

To learn more about how you can own a home again – in as little as one day following a short sale or foreclosure – visit us at AnotherChanceNevada.com. And to watch our short series of Home Loans #101 educational videos, visit www.KnowBeforeYouOweNevada.com. We created them to take the ‘mystery’ out of obtaining a mortgage loan. They’ll explain exactly what you need to know to save big money on your next loan – and tell you exactly which questions to ask your next mortgage lender.

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