Premier Mortgage offers Another Chance program to Las Vegans

Some 80 years ago, the attitude of an entire American generation toward money began to change to meet the rapid and unexpected changes brought on by the Great Depression. The last eight years brought a few of those hard-earned lessons back to the forefront, and few cities experienced a more rapid or harsh decline than Las Vegas.

As Rick Piette of Premier Mortgage Lending notes, however, "Times have changed since the recession. While studies, statistics and headlines show every indication that the local economy is back on firm financial ground, Las Vegans haven't forgotten those lessons. Today, data is analyzed more conservatively, and every investment is more closely scrutinized.

"That's what makes the news about the current and projected state of the Las Vegas economy even brighter," Piette said. "The past few years have seen a consistent improvement in job growth, new development, tourism, manufacturing and many other industries, so that even cautious forecasts for the next two to three years indicate massive growth for Nevada. Analysts project over 150,000 new jobs just through the end of 2017, and the state's growth spurt is conservatively projected to continue for the next 18 years."

All great news for Nevada residents, of course.

As incomes rise and employment becomes more secure, it's particularly meaningful to those who were displaced during the housing crash. And as the Fed continues to toy with talk of a possible interest rate hike this fall, all indicators point to the conclusion that now could be the best time of all to buy a home.

But what about those who lost their homes through foreclosure or short sale in recent years? These Nevadans are often under the impression that due to those events, owning a home is now beyond their reach.

"That's just not so," Piette said. "Through our Another Chance Nevada lending program, we've been helping those who lost their residence in recent years get back into a home of their own — far sooner than they ever expected. In fact, with our private lending program, buyers are able to get a new mortgage loan as early as one day after their short sale or foreclosure is finalized.

"For those who aren't able to meet the stricter qualifying standards of traditional lenders, Another Chance Nevada offers an alternative to the high cost and instability of renting a home. While the down payment, rates and fees are a bit higher, buyers are able to use this time to rebuild their credit and can refinance later at a lower rate as soon as they're able to qualify for a traditional loan because there are no prepayment penalties.

"Two more reasons make buying a home now a wise decision" he continues. "First, interest rates are still very low, which means a slightly higher interest rate won't push your mortgage payment beyond your reach. And second, when you consider the cost of renting can equal twice the cost of owning a home in Las Vegas, it's just a smart move to invest that money in yourself — not in your landlord."

For those who question their ability to qualify for a mortgage loan, the key is to ask.

"People often make the mistake of assuming they can't qualify for any loan — and we've proven to Las Vegas residents hundreds of times that's not the case," Piette said. "We're thrilled to be helping people get back into homes of their own again."

For more information, call 702-485-6600. Or, apply online at www.premiermortgagelending.com.

Premier Mortgage Lending, NMLS No. 393282, is at 701 N. Green Valley Parkway No. 125 in Henderson. The full-service lender is a member of the Las Vegas and Boulder City chambers 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.