NMLS: 112386
3363 E Presidential Drive Suite #200
Meridian, Idaho 83642
(208) 629-0606
State Licensing Information: AZ- 1022481, ID-MLO-21439, OR-112386, UT-112386, WA-MLO-112386, NV-69748
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.
Trace helped my family get the perfect loan for our dream home. He has been awesome throughout the entire process and provided us with financial guidance, to put us in the best credit worthy position. We really appreciated his service level commitment and will definitely recommend him to friends & family. Thank you for everything Trace.
Trace has been the best lender I have worked with. Always has provided us with the best direction and offers regarding our mortgage loan. His level of understanding and knowledge in the industry is the best. I appreciate all that you have done!
Trace went above and beyond getting my home refinanced. I would recommend Trace to anyone looking to finance or refinance a home.
Tracy is the best! He put in tons of hours with me answering questions even off the clock from his home! He never stopped helping me! I had the best team and they found me the perfect home with the perfect loan! I can’t thank him enough!!!
Tracy was great to work with, he got my loan done quickly , I recommend him to my clients on a regular basis
Tracy was the best put in a lot of time with me he answered all my questions very professional
Trace Goff is very professional and very personable guy. He did a great job on keeping me informed on all matters.
Tracy did a outstanding job getting me through the loan process! The challenging times we are in caused obstacles that Tracy made as painless as possible.
Trace did a super job. I intend to and will recommend anyone to him.
Trace was great to work with answering all question. I would refer anybody needing a loan to him.
It is always a pleasure to work with Tracy. Fast, courteous and efficient, always professional. He and his team gets the job done.
Great job, Pretty fast and really nice guy,, awesome person, and he helped my to get a home for my family. I definitely recommend him. He's the best… and professional.