NMLS: 1047144
24850 Hancock Ave R208
Murrieta, California 92562
(208) 629-0606
State Licensing Information: CA-CA-DBO1047144
As the clock strikes midnight on New Year's Eve, many individuals embark on a journey of resolutions and aspirations for the upcoming year. For some, it sparks the decision to become a homeowner. Owning a home entails a multitude of benefits that transcend the...
The commencement of a new year often marks a time for fresh starts and new beginnings. For homeowners looking to sell their property, this is an opportune occasion to showcase their homes in the best light possible. A well-prepared and visually appealing home has the...
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.
Pete is one of the most helpful, kind, knowledgeable, and trusting loan officers I have met. He broke everything down and patiently explained the process for me as a first timer looking for a loan. I appreciate his time, dedication, care and attentiveness to my situation in trying to help me. I would highly recommend his services to anyone.
Pete was incredible! Always answers the phone and does a great job working through all aspects of our refinance. His processor is off the hook too! What a great team! I highly recommend them!
This was the easiest refi I have ever experienced and I have refied many times. The whole process took only a little more than 3 weeks which was also pleasantly surprising. Pete promised a smooth process and over delivered on his promise. He knows his business and I highly recommend him.
Pete helped me when I purchased my home and he also helped me when I refinanced my house too. He's very detailed and does a great follow up on items needed.
Thank you Pete for getting my husband and I a great refinancing rate on our home. You are truly amazing. Pete continued to keep in contact with us all throughout the entire process. Pete was highly recommended from a Facebook group I am in. Thank you again Pete.
If you're looking for exceptional service, call Pete Reilly!
We bought our first home here in California and having Pete at our side made all the difference. First off, everyone from Premier was very responsive and professional. Pete is great at preparing you for the documentation you will need. His honesty, experience and direct communication was most appreciated. Coaching us for what was needed was crucial, especially being inexperienced buyers. Premier is the team you need if you're serious about buying a home.
After we submitted an offer, Pete spoke to the seller's agent on our behalf and worked his magic. He gave them confidence and with his knowledge of our financial situation helped land us a deal. They even had a higher offer on the table! We closed in 3 weeks and we are so fortunate that we had a high performing team to get it done.
I highly recommend working with Pete Reilly and his team. You won't regret it! Thank you for everything Premier Mortgage Resources!