Tag Archives: Trulia

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.

Another Chance Nevada Unlocks Doors to Homeownership

Trulia.com real estate listing service’s recent ranking of the Las Vegas Valley as the third best place to buy a home among 50 major U.S. cities has flamed interest among renters and those undergoing a short sale or foreclosure. Many ask the questions:  “Can I buy a home at today’s low prices?” and “Can I have a mortgage payment lower than rent or my previous mortgage?”

Answering these questions can be very complicated and require the weighing of various factors such as one’s finances, credit history, personal goals, and lifestyle considerations. Being proactive and becoming educated in new financing options are key in deciding whether to join the thousands who are buying homes at today’s low prices.

According to Rick Piette of Premier Mortgage Lending, the first step is seeking the guidance of an experienced mortgage professional well-versed in not only conventional mortgages but also new finance programs designed for borrowers with less-than-stellar credit and who have recently experienced a short sale or foreclosure. Among these is a new program offered by the Las Vegas-based, full-service lender:  Another Chance Nevada.

“Deciding whether to buy a home or to rent is a highly personal decision and should be made only after you have all of the facts and fully understand your options. I have met many people who currently rent and agree that this is now a good time to buy a home with today’s low housing prices. However, some are reluctant because they just don’t know if they can qualify for a mortgage or they feel apprehensive of the home buying or mortgage lending process,” Piette said.

“The only way to find out if homeownership makes financial sense for your family is to be proactive and to learn about all of your options. One way to do this is by meeting with a lending specialist at Premier Mortgage Lending, learning about the different mortgage programs, and finding out if you, too, can buy a home through our complimentary mortgage pre-qualification,” Piette said.

“Many people have been happily surprised when they learn that our Another Chance Nevada can help re-open the doors to homeownership to those who have had a recent short sale or foreclosure. For many, an Another Chance loan makes financial sense when they consider today’s housing prices and compare the potential mortgage payment to rent.”

Through Another Chance Nevada, private and institutional portfolio lenders offer home loans following full-documentation underwriting guidelines. These 15- or 30-year, fixed-rate loans carry interest rates that are typically higher than traditional mortgage rates.  At least a 20 percent down payment is required.

Borrowers may close within 30 days from the time of loan approval, and may refinance the loan at any time without penalty.

“Another Chance Nevada offers those who are currently unable to obtain a conventional mortgage the advantages of homeownership today and, when they’re able, the opportunity to refinance into a conventional loan without penalty,” Piette said. “The program has grown in popularity, giving hundreds of Southern Nevadans the choice of where they live.”

An Another Chance loan may be used on purchase of a re-sale or a new home. The lender is currently working with Beazer Homes, D.R. Horton, Dunhill Homes, Harmony Homes, KB Home, Pardee Homes, Pulte Homes and Del Webb, Richmond American Homes, Ryland Homes, and William Lyon Homes.

“I think that it is vital for anyone who is interested in buying a home to visit with us and participate in the mortgage pre-qualification process. We can help you determine not only if you can qualify for a mortgage, but also weigh the monthly mortgage payments and decide if now is financially a good time for you to buy a home.”

For additional information or for mortgage pre-qualification, call Premier Mortgage at 485-6600 or visit www.AnotherChanceNevada.com.

Premier Mortgage Lending (NMLS 393282) is located at 8689 W. Sahara Ave., Suite 100, Las Vegas, 89117 and is a member of the Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.

Premier Mortgage Lending opens doors of homeownership through second chance financing

The decision as to whether to buy or rent a home is a personal one, entailing both financial and lifestyle considerations. For Southern Nevadans who have experienced a recent short sale or foreclosure, the prospect of homeownership may appear unattainable. However, this is not necessarily the case thanks to private lending programs such as Premier Mortgage Lending’s Another Chance Loan Program.

“For the more than 100,000 prior homeowners who have lost their home due to a foreclosure or short sale, many think that their opportunity to buy a home of their own is closed and that their only option is become a renter. For many, renting is not their only option,” said Rick Piette of Premier Mortgage Lending, a full-service mortgage provider.

“If you are among the growing group of Nevadans who has lost your home from a foreclosure or short sale, you now have a choice to buy instead of rent through Premier Mortgage Lending and our Another Chance Loan Program.”

According to Piette, the Another Chance Loan Program opens the doors to homeownership through private and institutional portfolio lenders who offer home loans following full-documentation underwriting guidelines. These 15- or 30-year, fixed-rate loans carry interest rates that are typically higher than traditional mortgage rates, and require at least a 20 percent down payment Borrowers may close within 30 days from the time of loan approval. Borrowers may refinance the loan at any time without penalty.

“Buying a home is a very personal decision that greatly impacts one’s everyday living. For some who have experienced a short sale or foreclosure, the prospect may seem a little scary, while others look forward to it because of the many advantages,” Piette said.

“Owning your own home offers the sense of community, stability and security. You can decorate and make the home however you want, according to your needs and your style, without needing permission from a landlord. Owning a home offers tax benefits and the opportunity to build equity. You can control your own housing and not worry about your lease not being extended or that the home you’re renting may go into foreclosure,” Piette said. “On the flip side, as a renter it is easier to move and you have little responsibility for home maintenance, which some people prefer.”

Piette stated that purchasing a home at today’s low prices may offer mortgage payments lower than rent.

According to Trulia’s “Rent vs. Buy Index” for December 2011-February 2012, the Las Vegas metropolitan area ranks 11th among metropolitan areas where purchasing is more affordable than renting. Meanwhile, the Greater Las Vegas Association of Realtors (GLVAR) reported the median price of single-family homes at only $127,900 in April, and the median sales price of townhomes and condominiums was $59,900.

“At these prices, it is easy to understand why your mortgage payment may actually be less than renting the same type of home, even for buyers who pay a little higher interest rate through Another Chance,” Piette said.

Piette encourages potential home buyers to meet with a mortgage specialist to become pre-qualified for a mortgage before shopping for a home. During the pre-qualification process, potential borrowers can determine the type of mortgage they may qualify, the monthly mortgage payment in which they feel comfortable paying, and ultimately how much they may spend on a home.

An Another Chance mortgage can also be used on the purchase of a brand-new home. The lender is currently working with many of the valley’s major builders, including Beazer Homes, D.R. Horton, Dunhill Homes, Harmony Homes, KB Home, Pardee Homes, Pulte Homes and Del Webb, Ryland Homes, and William Lyon Homes.

For details about Another Chance Loan Program, mortgage pre-qualification or appointments, call 485-6600 or visit www.premiermortgagelending.com or AnotherChanceNevada.com.

Premier Mortgage Lending (NMLS 393282) is located at 8689 W. Sahara Ave., Suite 100, Las Vegas, 89117 and is a member of the Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.