Local lender: Find out how much it costs for home loan

"I really wish I could buy a home while interest rates are so low."

Sound familiar? Because that's a sentiment a lot of people share, especially now that rates are still hovering at record lows. But unfortunately, and for any number of reasons, that's often where the thought ends: with just a wish.

One local Las Vegas mortgage broker is trying to change that, and he wants to make one thing perfectly clear to those who express that thought:

"The only way to find out — is to ask."

"For many people, the thought of buying a home is either overwhelming, or it's something they believe is simply out of their reach," according to Rick Piette, owner of Premier Mortgage Lending. "But often, people make that assumption without ever reaching out to a knowledgeable professional for real answers."

"The ironic thing is that for many, the answer is often contained in the wish itself," Piette said. "Because those low interest rates make it possible for buyers to obtain a mortgage loan in two ways: For some, it increases their chances of qualifying by reducing the monthly payment obligation; for others, it allows them to get more home for their money than they thought possible.

"However, there's another figure that can play a huge role in a buyer's ability to qualify for a mortgage loan. And it's one that people often don't think twice about — but they should: 'How much money do I need to purchase a home?'"

What Piette is referring to is the total cash to close, which includes the numerous fees that many lenders collect from customers just for making their loan.

"These fees — for loan origination, underwriting, document preparation and more — can cost buyers literally thousands of dollars out-of-pocket," he said. "And those additional costs can actually affect a borrower's ability to receive loan approval by skewing their loan ratios.

"But that's not how Premier Mortgage works. We believe it's a privilege to gain the trust and business of our customers, not something they should have to pay exorbitant fees for. That's why we offer a true 'No Fee' mortgage loan — where buyers will never see those or any other 'junk fees' on our loan estimates."

While there are a number of things to consider when weighing the pros and cons of buying a home, "Those living in Las Vegas are in a unique position right now," Piette said.

"Our market has seen a slow and steady return since the recession ended, and it's really neither a seller nor a buyer's market. Home prices are relatively stable, with good value to be had for both parties. So when you add the combined savings of low interest rates and no fees, it can make the dream of owning a home become an affordable reality."

For additional information or to schedule an appointment to discuss the real "No Fee" mortgage loans available through Premier Mortgage Lending, call 702-485-6600. Or, apply online at www.premiermortgagelending.com. To discover facts on how much a mortgage loan should cost you, visit www.KnowBeforeYouOweNevada.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.