Premier Mortgage exec offers tips to buyers in sellers market

A shift to a seller’s market has led to increasing sales prices, and 75 percent of homes sold within 60 days in May, according to Rick Piette of Premier Mortgage Lending.

He said starting a home search prepared with a mortgage prequalification letter along with a “must-haves in my home list” will give prospective buyers an edge in today’s competitive market.

“For many, buying a home is one of the biggest investments in life. You face not only the challenge in finding a home that meets your needs, but also figuring out how you’re going to pay for it. They go hand in hand as you can’t realistically choose a home without knowing if you can afford it,” Piette said.

Premier Mortgage Lending offers prequalification as a complimentary service.

“You can then take this prequalification letter on your home search, and present it to the seller or homebuilder to show that you’re a serious buyer and that your purchase offer is strong.”

The Las Vegas mortgage executive said there are many types of mortgage programs available that range from traditional 30-year fixed financing to portfolio loans and private lenders.

A newer loan program designed for Nevadans who have experienced a recent short sale or foreclosure is Another Chance Nevada offered by Las Vegas-based Premier Mortgage Lending.

“We’ve met with hundreds of Southern Nevadans who’ve unfortunately lost their homes in a short sale or foreclosure, and they’ve been excited to learn that with an Another Chance Nevada loan they don’t have to wait years before they can become homeowners again,” Piette said.

Another Chance Nevada connects individuals with private and institutional portfolio lenders who offer 15- or 30-year, fixed-rate loans at interest rates that are typically higher than traditional mortgage rates.

“Our customers are comfortable taking out a loan with higher rates knowing that they can refinance as quickly as possible into a traditional loan,” Piette said. “They are happy to be purchasing while home prices are still so affordable.”

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.

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, 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.

“Unless you have cash in hand, you really don’t know if you can realistically buy a home or how much of a home without meeting with a lender. Become educated and learn about your options,” he said.

For additional information, call 702-485-6600 or visit www.anotherchance
nevada.com. The company is at 8689 W. Sahara Ave., Suite 100.