NMLS: 351216
220 SE 21st Street, Ste C
Grand Rapids, Minnesota 55744
(218) 244-6390
413 Broadway St Suite B
Alexandria, Minnesota 56308
(218) 244-6390
State Licensing Information: AZ-1040642, MN-MN-MLO-351216, ND-NDMLO351216, SD-351216.MLO
As you embark on your homeownership journey, it's important to familiarize yourself with closing costs. These are fees that typically represent 2-5% of your home loan and are a standard part of the process. We're here to demystify closing costs for you, ensuring your...
When purchasing a home, one important step that homebuyers often overlook or delay is getting preapproved for a mortgage. Mortgage preapproval is a service provided by lenders that offers homebuyers a comprehensive understanding of their borrowing capacity, giving...
Premier Mortgage Resources, LLC is not affiliated with or an agency of the federal government. The material is not provided by, nor has it been approved by the Department of Housing & Urban Development (HUD), the Federal Housing Administration (FHA), or any Government agency.
All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied.
This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Any programs shown do not demonstrate all options or pricing structures. Not all customers will qualify. Terms, programs, and underwriting policies are subject to change without notice. Some products or loan amounts may not be available in all states. Other restrictions may apply.
Refinances
By refinancing your existing loan, the total finance charge may be higher over the life of the new loan.
100% Financing Programs
The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes. You should consult a tax adviser for further information regarding the deductibility of interest and charges.
ARM Loans
After the initial fixed-rate period on an Adjustable Rate Mortgage (ARM) loan, your interest rate may increase periodically (annual or semi-annually) according to the market index. If the interest rate resets, your monthly mortgage payment may increase.
Lower Rates
Lower rates typically have higher closing costs in the form of discount points.
About HECM (Reverse Mortgage)
At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or you must otherwise repay the reverse mortgage with interest from your other assets.
We may charge an origination fee, a mortgage insurance premium, closing costs or servicing fees for the reverse mortgage, all or any of which will be added to the balance of the reverse mortgage loan
The balance of the reverse mortgage loan grows over time and interest is charged on the outstanding loan balance.
You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and therefore you are responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may be subject to a tax lien or other encumbrance or to possible foreclosure; and
Interest on a reverse mortgage is not deductible from the person’s income tax return until the person repays all or part of the reverse mortgage loan
Reduced Documentation loans (No Doc, No Income/No Asset, Stated Asset, No Ratio)
These products may have higher interest rate, more points or more fees than other products that require more documentation, including income documentation.
Tax Exemption/Deduction
Any statements regarding tax deductions or exemptions are for information purposes only. Always consult a tax advisor regarding your specific tax situation.
Opinions
Any opinions expressed within blogs, videos, podcasts, interviews, presentations, or other online content are solely the opinions of the individual/author and do not represent the opinions or policy of Premier Mortgage Resources, LLC.
PMR is not a course provider and does not provide credits for any CE class.
Texas Complaint-Recovery Fund Notice
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT http://WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT tel:18772765550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMNT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT http://WWW.SML.TEXAS.GOV.
Karen did a great job getting us a mortgage and we are very happy with the work she did for us. Thank you for all your help getting us into our dream home. Great job Karen!
Karen was easy to work with and willing to jump through hoops to help us
My wife and I have worked with Karen twice now and she’s always been the best. On top of everything and easy to work with. Thank you again Karen!!
Karen was great to work with. I was very inexperienced and nervous buying my first house. She answered all my questions and I’m now in a house I love.
Karen has guided my husband and me through the purchase of two homes and the building of a third over the past many years! She is the kind of person who takes her business seriously. She knows all the details, responds to questions or concerns immediately and, most importantly, watched out for us!!! Her work is impressive and very much appreciated. We recommend her 100%!
Karen did a perfect job of helping me get a mortgage. She is very timely and excellent at walking me through the process. Highly recomend
Best there is! I'm a realtor in Northern Minnesota and Karen is always on top of her game and has the best interests of her clients in mind. Her knowledge is second to none! 5 stars all the way!
Karen went above and beyond and we were able to move in to our house in 3 weeks. She is amazing, Thank you!!!
Karen went above and beyond for my loan. I’m 24 and First home ive bought. I had no understanding of the process. She was patient and thorough. I’d recommend her above anyone.
As a first time home buyer I had no knowledge of the process or how anything worked. Karen was very patient, knowledgeable and kind. She helped me through the entire process an found me the best rates possible. I highly recommend her!
Working with Karen was the BEST decision we made! Applying for a home mortgage was so intimidating and frustrating at first. Then we were recommended Karen, EVERYTHING was different after that! She was easy to talk to, thorough, kept us up to date on everything going on and anything that was needed! She made this home purchase fun and exciting for us! Now we are in our dream home and couldn’t be happier
Karen helped navigate everything in the experience of first home buyer. She really looked out for everything and then some and made me feel comfortable along the way.
Karen has not only once but twice helped us conquer an extremely stressful life step with complete ease. She adapted to our needs as well as you possibly could. An now we are the owners of our dream farm which would not have been possible without her!
Karen was extremely awesome to work with, would recommend 100%
Karen went above and beyond her duties for me. If it hadn't been for Karen I probably wouldn't have got my home! Thank you karen!!
Karen and her team did an amazing job. Closed on a house very fast! Super friendly, trusting, point you in the right direction if you have any questions. Thank you Karen!! I’m loving the new house!!!
Awesome service and great people to deal with! 👍
Karen was very professional and helpful with my home loan. I appreciate everything she did to help me through the process!