NMLS: 1797087
20 Lake Wire Drive, Suite 184
Lakeland, Florida 33815
(863) 698-0073
3363 E Presidential Drive Suite #200
Meridian, Idaho 83642
(208) 629-0606
State Licensing Information: AL-88244, FL-LO59050, GA-64343, KY-1797087
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.
We had a great experience refinancing our home with Michel throughout a very challenging time. The whole process was personalized to our individual needs. Michael is extremely professional and knowledgeable, and at the same time very personable and sensitive to people's needs. He went far and beyond the business transaction, helping and counseling us at every step of the process. I am grateful for everything that he has done for us, for the time and patience that he took to help us get the best deal and make it through, and I am looking forward to working with him again in the future.
So happy with the service and transparency provided by Michael Torrone! He ensured that we were able to seal the deal to meet the budget of my family, even with the current rates, and communicated every step of the way - even after closing! I truly look forward to doing business with him again in the future, and we are already referring friends and family. In addition to his great service, Michael also made us a wonderful customized cheesecake that we enjoyed in our wonderful home! -S. Coley
I am deeply grateful for the exceptional service we received during our recent journey of refinancing and home-buying. Time was crucial for us, and Mr. Torrone truly delivered. He tirelessly gathered all the necessary paperwork with remarkable speed, ensuring that we met our tight deadlines seamlessly. His dedication and efficiency put us at ease during what is typically a stressful process. What sets Mr. Torrone apart is his accessibility and responsiveness. He was consistently available to address our inquiries promptly, regardless of the time, even during weekends and evenings. Mr. Torrone kept us informed at every step and we never felt left in the dark. His clear communication and willingness to guide us through every detail made a significant difference in our experience. We extend our heartfelt gratitude for his outstanding efforts and eagerly anticipate the opportunity to work with him again in the future.
Definitely use Michael Torrone--he's the best mortgage guy plus more you could ever find!! He goes way beyond the call of duty, shoots straight and will help you with far more than just the mortgage.
Mike Torrone is the best! Go PMR loans❤️
In working with Mr Michael Torrone of PMR Loans, I have never worked with someone as Professional and Knowledgeable as he. Mr Torrone took the time to ensure that I understood every aspect of the home refinancing process. If I didn’t understand something, Mike broke it down to me until I did. By the way he handled working with me, I ended up feeling confident and comfortable in my decision to work with him, and PMR.
Thank you Mike! From this military veteran, and I feel really good about referring PMR and Mike Torrone to others whom have served their country and need a helping hand in either the home buying or refinancing decision!
May you, and your family, and PMR be blessed beyond measure, and continue to grow and have ultimate success❤️
I continue to use Michael Torrone because he goes above and beyond on all my loans . I've been using him for years and will continue to do so. Growing my business is important and I need a reliable loan officer to succeed. Michael provides that reliability and professionalism at a supremely-high level. Thank you, Michael; it's a true pleasure to work with you. This is an unsolicited review.
You’ll never find a more honest, hard-working, and thoughtful person to work with! Michael goes far far beyond the call of duty, and will make your experience a pleasure.
They are a great person the agent Michael helped us with the loan now we are enjoying the house we dreamed of. Thanks again agent. I recommend 100/100 to them.
So happy with the service and transparency provided by Michael Torrone! He ensured that we were able to seal the deal to meet the budget of my family, even with the current rates, and communicated every step of the way – even after closing! I truly look forward to doing business with him again in the future, and we are already referring friends and family. In addition to his great service, Michael also made us a wonderful customized cheesecake 😊
We had a great experience refinancing our home with Michel throughout a very challenging time. The whole process was personalized to our individual needs. Michael is extremely professional and knowledgeable, and at the same time very personable and sensitive to people's needs. He went far and beyond the business transaction, helping and counseling us at every step of the process. I am grateful for everything that he has done for us, for the time and patience that he took to help us get the best deal and make it through, and I am looking forward to working with him again in the future.
I am deeply grateful for the exceptional service we received during our recent journey of refinancing and home-buying. Time was crucial for us, and Mr. Torrone truly delivered. He tirelessly gathered all the necessary paperwork with remarkable speed, ensuring that we met our tight deadlines seamlessly. His dedication and efficiency put us at ease during what is typically a stressful process.
What sets Mr. Torrone apart is his accessibility and responsiveness. He was consistently available to address our inquiries promptly, regardless of the time, even during weekends and evenings. Mr. Torrone kept us informed at every step and we never felt left in the dark. His clear communication and willingness to guide us through every detail made a significant difference in our experience.
We extend our heartfelt gratitude for his outstanding efforts and eagerly anticipate the opportunity to work with him again in the future. In light of our experience, we wholeheartedly recommend Mr. Torrone to anyone seeking real estate services.
My experience with Premier Mortgage Services was top notch. Michael was professional, patient, and knowledgeable. I had many questions and so many documents to find and he was helpful and full of information. I would highly recommend the company to help with any mortgage needs.
Michael went above the line of duty to make sure that we were going to get approved and get the best rate possible. I couldn't have asked for anyone to be more involved in the home buying process! He spent months helping me get ready and line everything up! If you want somebody who cares, is dedicated to your cause, and makes you a fantastic cheesecake that he will bring to you at closing, then Michael is your best bet! 10/10