Hundreds of Southern Nevadans who recently experienced a short sale or foreclosure have discovered a second chance at homeownership through Premier Mortgage Lending’s Another Chance Nevada program.
“In the Las Vegas Valley, a lot of people lost their homes in a foreclosure or short sale due to the poor economy and for reasons that were out of their control. Another Chance Nevada is a great opportunity for these people to become homeowners again,” said senior loan officer Cheryll Acevedo, who has 28 years of lending experience in Southern Nevada.
“Their personal situations have changed and they can now afford mortgage payments. They realize all of the benefits of homeownership and do not want to be renting somebody else’s home. This program gives people a chance to get back to the American Dream of owning their own home.”
Through Another Chance Nevada, Premier Mortgage Lending connects qualified borrowers, including those who have recently experienced a short sale or foreclosure, to private and portfolio lenders who offer 15- or 30-year loans with fixed interest rates that are typically higher than traditional mortgage rates.
Full-documentation guidelines are followed and at least a 20 percent down payment is required. The down payment can come from personal funds or can be obtained as a gift from family members. Borrowers may close within 30 days from the time of loan approval, and may refinance the loan at any time without penalty.
An Another Chance loan may be used on the purchase of a resale or a new home. The lender is currently working with Beazer Homes, DR Horton, Dunhill Homes, Harmony Homes, KB Home, Pardee Homes, Pulte Homes and Del Webb, Richmond American Homes, Ryland Homes and William Lyon Homes.
According to Acevedo, the first step in acquiring a loan is to complete the prequalification process with a Premier Mortgage Lending loan officer.
“The first step is usually a conversation over the phone to see if Another Chance Nevada meets your needs. If it does, we’ll meet with you in the office and begin the prequalification process,” she said.
She added that full-documentation requirements include review of recent tax returns, income and expenses and other items.
Prequalification is complimentary. As a full-service lender, Premier Mortgage Lending can connect qualified applicants to conventional loan programs as well.
For information, call Premier Mortgage at 485-6600 or visit www.AnotherChanceNevada.com.
Premier Mortgage Lending, NMLS No. 393282, is at 8689 W. Sahara Ave., Suite 100. The lender is a member of the Las Vegas and Boulder City chambers of commerce, the Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.