Tag Archives: Private Money Financing

Homeownership: You May Be More Qualified Than You Think to Enjoy the Benefits

homeownership

Homeownership is one of the most important rites of passage many of us dream of. Homeownership means putting down roots and having a space that is truly yours. It’s truly a significant moment in your life when you finally reach the point of picking up that set of house keys and moving in. That’s why we seek it out, and why we celebrate the accomplishment with our family and friends.

But according to Rick Piette, owner of Las Vegas-based Premier Mortgage Lending, homeownership may be a dream many have given up on.

“In recent years, many families have chosen (or perhaps been forced) into a change of circumstance by renting – rather than owning – a place to live. As a result, those families are missing out on much more than just the financial benefits of homeownership. They’re also missing many of the intangible aspects of owning a home that can literally be a game-changer for their family.

“Of course, the financial benefits of buying a home are many, and include such things as building equity, increasing your net worth, property value appreciation, tax benefits – and in some cities (like Las Vegas) it may even be cheaper than renting.

“But the lifestyle and emotional advantages that come along with owning a home are perhaps even more life-altering,” explains Piette.

For example, homeowners get to enjoy these benefits, too:

It’s All Yours. That might sound simple, but there is real value in all the confidence that comes from being able to hammer a nail into your own wall. (Renters – are we right?) In fact, you can paint, make changes and improvements, have pets, plant a tree, and do a million other things to a home of your own that would never be possible in a rental property.

Your Home and Family Gain Stability. Buying a home is a big step in settling down and putting down roots. Researchers find that not only do homeowners gain a sense of stability when they settle into their first home, but they also contribute to the stability of the neighborhood. Homeowners move less often than renters, and that allows both children and adults to forge stronger bonds of friendship with neighbors – that can often last a lifetime. Students don’t have to change schools as often, and the uncertainty of being at a landlord’s whim about whether or not a lease will be renewed – just vanishes.

Stronger Community Ties are Developed. If you’re constantly moving from rental to rental, you don’t get to know your neighbors very well. But since most homeowners stay in their homes for longer periods of time, they’re more likely to form relationships and become more invested in their community as a whole. As a homeowner, you have a greater stake in your community – as well as the incentive to get to know what’s important to those in your area on a more intimate level.

You Can Create Your Dream Home. As a renter, you’re basically living in somebody else’s home and are subject to their rules. Want to change the color of the living room? Better ask permission (and be prepared to return it to the original color when you move). Want to knock down a wall to make more space for your entertainment center? Nope. But in your own home, you can pick the furniture you want, change the drapes, redecorate and even redesign your entire living space exactly as you’ve always wanted. Buying your own home is the only way to make that dream come true.

“Those are only four non-financial reasons it’s important to pursue homeownership, and certainly there are many, many more,” continues Piette. “But if you have the belief or the mindset that owning a home is not an option for you, we’d like to ask you one simple question: “How do you know?”

“We ask that because statistics show that more than half of the people who aren’t sure if they’re qualified to obtain a mortgage loan never even ask the question.  While we agree that’s a truly mind-boggling fact, it’s not hard to understand why – after the effects of The Great Recession took their toll – so many people make the assumption that their history, credit score, finances, or job situation would make them ineligible for home loan approval.

“At Premier Mortgage Lending – we know better. Because we’re a mortgage broker, we are able to work with a large network of lenders that offer loan programs to fit the needs of many different types of homebuyers,” he reveals. “Unlike a large bank or mortgage banker (who only sell their own loan products) – a broker has relationships with dozens of different lenders whose qualifying requirements can differ widely. So we’re able to cast a wider net on behalf of our clients to find a loan that will work best for them.”

Just a few of the loan options that Piette refers to include a true “No Fee Loan” program – that literally costs the buyer $0 in Loan Origination, Underwriting, Document, and Processing Fees; a “1% Down” program that helps buyers without a large down payment available, and private money financing through their Another Chance Nevada program – available to homebuyers as early as one day after a foreclosure or short sale.

“When you work with experienced Loan Officers like we have at Premier, you have an advocate on your side who can think outside the (check)box(es) to help you find your path from renting to owning a home,” adds Piette. “We’ve been helping Las Vegas residents achieve their “American Dream” for years. Isn’t it worth a phone call to find out if you and your family can enjoy all the benefits that come from living in a home of your own?”

To find out if you’re able to qualify for one of Premier Mortgage Lending’s many programs, call 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.

The Right Mortgage Lender for You Could Be Right Next Door

mortgage lender

Here at Premier, sure – we talk about home mortgage loans a lot (because hey – that’s what we do!). But there are reasons we are so passionate about our work, and we think those reasons make a difference – for our team, for our customers, and for our community as a whole.

You see, we’ve been here in the Las Vegas valley for a long time – and momwe’re proud to say that most of our staff has too (they’ve been with Premier for years, as well). As a small, local mortgage broker, we’ve built some serious roots in this city. We know the real estate industry, we know the people who work within the industry – and through our amazing customers, we’ve gotten to know our neighbors, made new friends, and we believe that together we all make Las Vegas a better place to live, work, and play.

So today, we’d like to share a little bit about why everyone at Premier Mortgage is so dedicated to our role in helping people get the best mortgage loan possible:  It’s because we take great pride and satisfaction in helping people move into a home of their own.

That may sound simplistic, but we’re being quite honest. Many in our city take part in creating the neighborhoods and communities here in Las Vegas. Home builders, Realtors®, title and escrow companies, inspectors, appraisers, repairmen, property managers – really, the list just goes on and on.

At Premier Mortgage, we know that for most people, getting from Point A (renting) to Point B (owning) just couldn’t happen without the services of all these professionals working together.

So yes, we’re very proud to be one of Las Vegas’ favorite local mortgage brokers and among those that help people locate, finance, and move into their homes. Not only does it support us and our great team of employees (which is good for our community) – but it gives us a chance to do our best, every single day, to make dreams and wishes come true for so many families who seek the security and lifestyle of owning a home of their own.

When it comes to getting a mortgage to buy a home, there’s a lot of media ‘shouting’ out there to promote ‘this big bank’ or ‘that online lender.’ The truth is, we know very well the substantial difference in quality and services our customers receive from Premier Mortgage Lending and its Loan Officers (as do our customers).  But we also know that as a consumer, it’s really tough to sort through all the ads and promotions to find real people who are experts at what they do, and that you can trust and rely on to do what’s best for your needs – not their bottom line.

If you think about it from this perspective, though, it might help you in making the best choice for this very important (and potentially expensive) product:  Think local. And no, we’re not just saying that because we are local here in Las Vegas. We’re saying to consider a local Mortgage Lender for your loan because there are very good reasons to expect you’ll find the best options for your needs right in your surrounding community.

Why? Here are just a few reasons:

• Local mortgage lenders understand the local market and have the industry relationships to achieve the best results for you.
• Real people you can meet face-to-face to answer your questions and discover your needs – then find the right solution.
• Money that stays local helps your community – with jobs, sales, and more.
• The people you do business with locally are neighbors who are also invested in your community.
• Service and quality matters more to local merchants – because repeat business is crucial to their success.
• Small local businesses save you money. (Less overhead/salaries = More savings for you)

To find out more about Premier Mortgage Lending and the many time- and money-saving mortgage loan opportunities that a local mortgage lender can offer you, contact 702.485.6600 or visit www.PremierMortgageLending.com. Traditional “No Fee Loans,” “1% Down,” Private Money financing, and much 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, 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

Is Now The Right Time To Buy?

Sold Home For Sale Sign in Front of New Houses

Deciding when the right time is to buy a home is a tricky thing. Or sometimes not. In truth, for many people the timing is determined by their current life situation. Let’s face it, if you just had new twins join your household, that 1-bedroom apartment simply isn’t going to cut it any longer.

But for most people, listening to all the chatter out there about when you should try to sell your existing home to buy a new one that’s better suited to your needs can be confusing at best. At worst, it feels a bit like trying to follow advice about investing in the stock market: All the so-called “experts” seem to have polar opposite opinions about how and when it should be done. When the truth is, no one has come up with a ‘sure-thing’ (or we wouldn’t be here writing this article, would we?).

“The fact is, there’s no single answer that’s right for everyone,” points out Rick Piette, owner of Premier Mortgage Lending. “Every situation is different, everyone has their own set of circumstances to consider. But there are a few checkpoints to keep in mind on the way to your decision, and we’d like to point out three of them to help you determine when is the right time for you to make the leap into buying a home.”

What If You’ve Had A Short Sale or Foreclosure?

“This is perhaps one of the most important questions we hear, especially these days,” reports Piette. “So many experienced financial hardships when the recession hit that losing a home to a foreclosure or short sale became much more common than it had been in the past.

“What many people don’t realize is that although there are enforced waiting periods of several years to get another government-insured mortgage loan – there are other options available that can help you get back into a home of your own as early as 1 day after those events. Here in Las Vegas, we created Another Chance Nevada just for that purpose – because we saw a need to help families get back into their own homes, and we wanted to help. With several loan programs and private money financing available, we’ve helped hundreds of locals become homeowners again. Plus, with our Another Chance Nevada loans, there are no pre-payment penalties – so when credit has been restored, owners are able to refinance to a more traditional mortgage loan to save even more.

Do I Buy When The Market is Hot, Cold, or Holding?

“The good news is that across the country, the housing market has made gains since the crisis and has pretty much returned to a stable footing,” states Piette. “As always, some markets are ‘hotter’ than others – often simply due to supply and demand. Others see rising job opportunities and populations that increase competition and prices. And if you should find yourself in a transition to a new area, it’s often wise to rent first to make sure you find the neighborhood that appeals to you most.

“But for those who know their city and plan to stay put for 5 years or more, buying a home is almost always going to be the best option. Here in Las Vegas especially – where rents are nearly twice the cost of a mortgage payment for the same property – it just makes more sense to invest in yourself, rather than your landlord.

“Real estate in Las Vegas has pretty much returned to normal, which is a great thing,” Piette continues.” There’s now the typical ebb and flow of values that naturally occur over time, and no indication of another ‘bubble’ on the horizon. In fact, prices that have been steadily climbing over the past 3-4 years are cooling slightly, showing that the cost of homes is leveling off. Right now, it’s neither a Seller’s nor a Buyer’s market – which pretty much puts everyone on a level playing field.

What About My Credit and Finances?

“There’s no doubt about it – the state of your credit score and finances are critical when it comes to buying a home,” states Piette. “It can be the difference between loan approval and denial, and also affect how much that new home is going to cost you over time. Simply put, someone with a good credit history will pay less for a home over the 30-year term of a loan because of a more favorable interest rate, than one with a poor credit score. By as much as $100,000 or more.

The good news? Interest rates are still at historic lows – although there’s reason to believe with recent jobs data reports that the Fed may begin raising those rates soon. Plus, the upcoming Presidential election may also play a role in interest rate fluctuation.

“Surprisingly, surveys have shown that almost 50% of potential buyers simply assume they won’t qualify for a traditional mortgage loan, so they don’t even apply. But the truth is, many of them will (at Premier Mortgage, we make it happen all the time.) But even if a traditional loan isn’t available to them right now, getting a non-traditional loan at a slightly higher interest rate helps build their credit back up so they can refinance to qualify for a lower rate in the near future.

“One other thing that many buyers aren’t aware of is that the regulatory changes in the mortgage industry have been made in favor of the consumer. More transparency, clearer disclosures are two of them. And buyers are learning that shopping around for the right mortgage is one of the easiest ways to save money – a lot of it. For example, as a mortgage broker, Premier Mortgage Lending is able to offer clients a true No Fee loan. That means no loan origination, document fees, or other junk costs that banks and mortgage bankers will often add onto your Loan Estimate. It can be a savings of literally thousands of dollars – and one that can tip the scales in your favor so you receive that “Great news! Your loan is approved!” phone call. (Visit our KnowBeforeYouOweNevada.com website to learn more.)

“When you put these elements together – a level real estate market, current low interest rates that are projected to rise, and the cost of owning being considerably less than renting – it’s a pretty safe bet that Las Vegas is currently a prime market to buy into right now,” Piette reveals. “Our company is proud to be playing a big role in helping Nevadans get back into a home of their own. It’s about time, don’t you agree?”

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.

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.”