Posts in category: Financing and Lending

credit scoreBeen out looking at homes lately? Thinking that it might be time for you to make the leap? Stop renting, set down some roots, and grow your family? Those are all great ideas, if you ask us. (First, because we hate to see people waste money on rent when they can invest in themselves. Second – because we think Las Vegas is awesome. And third, because we love kids and animals. But, we digress.)

As we mentioned in our last post, going into the home-buying process with a good Credit Score is truly important. Why? Because as we explained, it will help you get a better interest rate, allow you to pay fewer fees, and it will give you more loan options.

Of course, it’s easy for us to say that – but credit can be a complicated thing. (That’s probably why there are books, magazines, websites, and experts out there that make that make explaining how credit works their sole purpose in life.)

There are, however, some basics to keep in mind when you’re trying to improve your own credit history that apply to everyone across the board. So we’re going to try to take a little bit of the “mystery” out of credit! Maybe then you can have a better idea of how to evaluate your own. Then you can make decisions that will help increase your “borrow-ability” (hey look! a new word!) when it’s time for you to make an offer on that house you absolutely love – then apply for your mortgage loan, confident it will make your dream of homeownership come true. Ready?

Not Paying as Agreed. (35% of Credit Score) The first red flag for a lender will focus on any late payments, charged-off accounts, bankruptcies, liens, judgment and other derogatory items on your Credit Report. However, since life isn’t necessarily black-and-white, there may be extenuating circumstances that caused these things to show up on your Credit Report. (An all-too-common and unfortunate one can be identity theft. Another may be an illness with extensive medical bills, or perhaps the millions of people adversely affected by the economic crisis.) Many people aren’t aware that mortgage lenders will consider some of these circumstances when evaluating your loan application. So remember that just because those things are on your report, if there’s a good reason and explanation for them, you may still be able to qualify for a loan.

Poor Credit Management. (30% of Credit Score) Are your credit cards maxed-out to their limit? That’s going to have a big effect on your Credit Score. It’s not that just owing money on your credit accounts makes you a higher credit risk, though. What lowers your score is having high balances, and having balances on several accounts. It’s a sign you may have spread yourself too thin. Start working toward paying those balances down, pay off the ones you can, and before long – you’ll see that score begin to rise.

The Length of Your Credit History. (15% of Credit Score) There’s no hard and fast rule for how long a credit history is required to get a mortgage loan. But as a guide, keep in mind that lenders like to see several months of a good payment history. If you have zero credit history as you read this, then now is the time to start building one. Here are some tips on how to get that ball rolling.

The Type of Credit You Have. (10% of Credit Score) One thing that can help improve your Credit Score is having a variety of credit types on your report. These can be credit cards, store cards and installment loans or credit. So, for example, an auto loan and a few credit cards would be a better credit mix than having only credit cards on your report. Just remember that while having a mix of credit can help, you shouldn’t take out any credit you won’t use. Because…..

New Credit. (10% of Credit Score) Opening multiple new lines of credit too quickly can create a drop in your credit score. (So that part about not taking out credit you don’t need – this is why.) The exception to this is if you’re shopping around for the best credit or loan terms. Multiple credit inquiries over a short period of time will be grouped together as one inquiry – so they won’t “ding” your credit each time one comes through.

Two other things to keep in mind when it comes to your credit – that can both have a tremendous impact on your creditworthiness – are these:

Errors on your Credit Report. It’s estimated that 1 in 5 Americans have at least one error on their credit report. That’s a huge number – so it bears saying you should review yours with a fine-tooth comb to see if yours is one of them. The good news is that today, it’s possible to submit a dispute for incorrect information online directly to the credit agency reporting the mistake. Although as this blog explains, sometimes better results are achieved through the USPS regular mail.
Are You Buying Your Home with a Spouse? Remember that both of your credit histories will play a role in your mortgage loan application. That means – don’t review only your own report – get your partner to review theirs, too!

Now you’ve got your homework assignment. It’s time to dig in and take the steps to raise your credit score as high as possible! That one number will help you save money in more places than you can imagine – and not only on your mortgage loan rates.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!

image003Unless you’re one of the lucky ones who hit that lottery jackpot or your MegaBucks dreams have come true, the odds are when the time comes that you want to buy a home, you’re going to need to get a mortgage loan to do it. (By the way, when it gets to that point, the most important rule to know is this: SHOP AROUND FOR THE BEST LOAN! Our friends at Premier Mortgage Lending help explain exactly why in this article.)

While it’s true that your Credit Score is only one element (of many) that a mortgage lender considers (in addition to your income, expenses, and other items) – it’s one of the most important when it comes to getting a more cost-effective and affordable loan.

And by that, we mean a good Credit Score gives you more options and saves you money when it comes to getting a mortgage.

How? It can play a role in getting you a better interest rate, in qualifying for a loan with a lower down-payment requirement, and can even help you to pay less in loan fees – such as Loan Origination, Underwriting, Document, and more. (Wondering how much can those fees can add up to? Take a look here.)

Mortgage Loan Rules of Thumb:

A Credit Score of 740 and above will get you the best mortgage interest rate.
A Credit Score between 620-739 may add from .25% to 1% or even more to your interest rate.
A Credit Score lower than 620 will generally require a significantly larger down payment, additional fees, a higher interest rate, and possibly stricter loan terms.

That’s Why It’s Important to Know What Your Credit Says About You.

If you’re considering making a home purchase in the future, the first thing you should do is check to see what information shows up on your Credit Report – and to find out your Credit Score, too – because those are two completely different things:

• Your Credit Report will show your Credit History – including information such as who has extended credit to you, if you made your payments on-time, how much you have borrowed, and what your total debt obligation is – along with personal information about previous names and addresses associated with your Social Security number.

• Your Credit Score is a numerical value applied to you (between 300 and 850) that is based on an analysis of your credit files. This helps lenders determine how credit-worthy you are, and there are 3 main agencies (although there are many others) who provide them to consumers: TransUnion, Equifax, and Experian.

While everyone is entitled by law to receive a free Credit Report annually (you can get it at – Credit Scores are not free, but are available to purchase.

Potential buyers should be checking their credit score regularly, and at least six to 12 months before applying for a mortgage.

The bottom line is this: The higher your credit score, the more trustworthy you are to borrow, and the less interest you will pay on future loans (and not only mortgage loans, either).

The key to getting a low-interest rate on a mortgage or car loan is having a high credit score and solid credit history of paying off your debt. Start working on your credit today and nurture it for the future. Your reward? Saving money in the Business of Life down the road.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for property management, a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to provide just the service you’re looking for. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, and Kathy Paterniti are all here to help!


When you work in the real estate industry, it’s easy to get so used to the “lingo” that you forget sometimes the words and terms you’re using aren’t necessarily mainstream knowledge.

That got us thinking that it’s worth taking the time to explain a few of the most common real estate terms that we industry professionals just fling around carelessly – assuming everyone knows what we’re talking about. And since there are about a gajillion different phrases used in any given real estate transaction, we’d like to help explain one of the most common – but perhaps least understood – real estate terms that will affect virtually all buyers – namely: Title Insurance Policies.

A standard inclusion in pretty much any real estate purchase or sale, it’s one of those things that any REALTOR™ will just take for granted needs no explanation. Surely everyone knows what it is, right? (What? You mean you didn’t read the latest Nevada Revised Real Estate Statutes and Regulations when you were on vacation?)

Wrong. In fact, we have friends who have bought and sold many different homes through the years who finally ‘fessed up around their 5th escrow transaction that they had no idea what that charge is on their closing documents for “Title Insurance Policy Premium.”

So let’s start out with the simplest explanation:

The primary purpose of Title Insurance is to eliminate risks and prevent losses caused by defects in title arising out of events that have happened in the past.

Oh gee. Now that we see it in writing, that doesn’t really help much, does it? Okay – then let’s break it down further with a few Q&As.

What is it?

• Title insurance is a policy that protects you from unanticipated claims that could cause you to lose your home.

• It’s protection against historical mistakes and fraud committed with respect to your home.

How does it work?

• Unlike other insurance policies (such as life, health, or auto) – which protect against potential future events – a Title Insurance Policy insures against events that occurred in the property’s past.

Why is Title Insurance important?

Mistakes happen. While your seller is obligated to sell you the home with a “clear title” (in other words, no liens, encumbrances, or claims that you didn’t agree to) – they may not always disclose title defects they know of; or even be aware of things that occurred prior to their purchase of the home.

• Imagine one scenario: You have to leave your home because county records show that the seller who sold you the home never really owned it. (It happens!)

• Or, the seller had work done on the home previously, but failed to pay the workers in full. The workers or subcontractor may have filed a lien against the property, and if it’s not paid – you could be the one held financially responsible to pay the liens in order to eliminate them from the title to your property.

Title insurance protects against situations like this. When a claim is made, your title insurer will research the claim on your behalf and, if necessary, will make you whole for any loss incurred (which may even include paying your remaining mortgage balance in full, as well as related expenses.)

Who issues the Title Insurance Policy?

• Your escrow officer (or lender) will open an order, and the title agent will begin a title search.

• During escrow, a Preliminary Title Report is issued to the customer for review and approval.

• After closing and recording of all the purchase and loan documents, the escrow officer will disburse funds to pay the title company for the policy.

Then the policy is created and issued to the owner or lender (depending on which policy is purchased).

What does it cost?

• It is a one-time premium paid at the close of escrow. The cost will differ based on the sales price of the home and/or the rates of the title company issuing the policy. (Estimate between .4%-.75% of your loan amount.)

How is it paid?

• It will show up on your escrow closing statement as an “Owner’s (or Lender’s) Title Insurance.”

Who should buy Title Insurance?

• In our opinion – everyone.

• There are two types of policies: Owner’s Title Insurance and Lender’s Title Insurance.

• It is optional for Owners.

• But nearly every mortgage lender will require that a borrower purchase a Lender’s Title Insurance policy.

Whew! That’s quite a bit of information! And to think, before we wrote this all down we just expected our clients to know (apparently by osmosis!) all that the phrase “Title Insurance” entailed. But hopefully, this helps to make it a little bit easier to understand in any future real estate purchase you make. (And if you have any other questions about this topic, feel free to contact us and we’ll help to clear them up.)

The bottom line is this: Yes, you want to purchase Title Insurance on your home. Considering the relatively minor cost – in relation to your overall financial investment in buying a home – it is money well spent. You may never need it, but if you do – you’ll be awfully, awfully glad it’s there.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!


Yes – you really do need to seek advice on this topic. Why? Because it’s one thing to decide you need to find a new home for your family’s needs. It’s quite another to know how much home you’re actually qualified to buy. So before you start house-hunting online and looking at pretty house pictures, and before you give your favorite New Home Resource Realtor® a call. . . you should do one very important thing first:

Contact a mortgage lender to find out how much home you’re qualified to purchase.

And here are four very good reasons this should be the very FIRST step you take.


Few things are worse than falling in love with “the perfect home” – only to discover that you can’t afford it. It’s a huge emotional let-down. For one thing, every home you look at after this will be compared to ‘the-one-that-got-away.’ So partly, by not knowing your buying parameters, you’ve set yourself up for disappointment at the very time when excitement and enthusiasm should be happening! Also, by aiming higher than you can afford – even if it happens unintentionally – let’s face it, can be a blow to your ego (whether you blame yourself or it’s just your ego taking a hit). But having the facts available about your financial capabilities before you begin shopping is the best way to avoid all of these (rather unpleasant) circumstances.


The required down payment can vary greatly from loan type to loan type, your personal income, and your credit history. This is something you absolutely need – and want – to know before you dive into this project. Do you have enough money saved? PLUS – in addition to your required down payment, there are closing costs and expenses added to the bottom line that can equate to several thousand dollars more at the closing table. To greatly minimize these closing expenses, visit the “No Fee” lender at


When you’re in the process of buying a home, it might seem like everyone is out to get something from you. But in reality, there is one person who is required both ethically and legally to put your best interests first: Your professional Realtor®. Of course, others you meet throughout the process may also choose to function that way. But for your real estate professional, it’s not an option (and truth be told, we prefer it that way).

That being said, you should also remember one very important thing: Your Realtor® is a person, too. Actually, we know you know that (in theory, at least) – but let us explain why it matters in this context.

Most real estate professionals are more than happy to go above and beyond on your behalf, and if you think about all the service they bring to the table, that can mean a lot. Doing extensive research to find properties in your preferred neighborhood, style, price range; with the right schools or proximity to your work. Getting all the property background and communicating with the seller and their agent to secure appointments – all that happens before even taking you to view it. It’s a lot of work up-front on your Realtor’s part – but this is what they do. You’re their client and they’re happy to do it because helping you make the right choice is the best part of their job.

But if you’re home shopping without knowing what your budget will allow you to buy – your Realtor® is going to expend a lot of unnecessary time and energy doing all those functions for properties that are literally just not an option for you. (And this is where the “person” part comes in.)

Just like anyone else, your Realtor® has limited and valuable time, energy, and resources. So you need to make sure that you don’t burn them out by using up those resources on homes that are outside your reach. Because if you do, there’s that much less of everything to devote to finding the right home that fits all your needs – and your budget – too.


These days, it’s not as easy as viewing a home, making an offer, and opening escrow. Often, sellers have several buyers interested in their home at the same time, and they are able to pick and choose the buyer they want. Who they choose (assuming the sales price is a constant) will many times depend on which buyer can get to the closing table the fastest – and with the best terms.

Getting pre-approved and knowing exactly how much house you can afford before shopping for a home is key to winning-over a home-seller. Be the buyer who is prepared.

By having a pre-qualification letter from a mortgage lender in-hand, the seller knows you’re not only serious about buying, but you also have a good chance of getting to a successful closing. Even better, start taking the steps NOW to begin the pre-approval loan process. Given a choice, sellers will choose the “pre-approved” buyer over the “pre-qualified” buyer, any day.

What’s the difference between a pre-qualification letter and a pre-approval letter? It’s a HUGE difference!! (Click on this link to find out: “What are the steps to getting a mortgage loan”)

A pre-qualification letter is not a commitment from a lender to make your loan. In fact, it doesn’t include necessary information about their costs or their interest rate, either. Any reputable real estate professional will always recommend you start the formal loan process now, as opposed to just being pre-qualified. For more information about just how important this step is, we refer you to this article from Las Vegas-based Premier Mortgage Lending.

While most people are used to finding the right home and then seeking a mortgage loan – by turning those steps around and beginning the documentation process with your lender first, you can speed up the process considerably. Getting many of the necessary documents to your lender early and becoming a pre-approved buyer can ultimately put your offer at the front of the line! You become the best buyer, in the right place, at the right time – and BINGO! That house is yours.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly-built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

ar123869527653434If you’re a seasoned homeowner – or even getting ready to make your first leap into home ownership – the odds are you’ve seen those ‘special offers’ in real estate listings. They are, after all, designed to catch your eye – with phrases like: “$20,000 in free upgrades!” or “We’ll pay up to $10,000 of your closings costs!”

That’s advertising at its best. It piques your interest and causes you to begin comparing that home you really fell in love with . . . one you didn’t like nearly as much. But hey – who wants to pass up a great deal, right?

The fact is, in real estate, nothing is as “free” as it seems. In many cases, when you add up the cost of all the strings that come attached to these ‘great deals’ – “free” can end up costing you a lot more than you can imagine.

Builder Incentives

Whether you’re in a buyer’s or a seller’s market, you’re going to find that upgrade incentives are often a builder’s stock-in-trade. But in order to get ‘freebies’ such as free upgrades or paid closing costs, buyers often have to agree to certain conditions. These can include a number of things – such as paying list price, making an immediate purchase, or even using their sales agent to sell your existing home.

But perhaps the most costly of these conditions can be to require you to use the builder’s “preferred lender.” As one local Las Vegas mortgage broker, Premier Mortgage Lending, explains in greater detail in a recent article, the vast differences in the fees and rates for mortgage loans can easily add up to thousands of dollars in unnecessary costs for a borrower. The bottom line is that when a builder takes away your options to shop for the best mortgage loan, the odds are that those paid closings costs they’re referring to will probably – in one way or another – actually be coming out of your own pocket. (Suddenly, ‘free’ isn’t sounding quite so “free” anymore, is it?)

Seller Concessions

When it comes to seller concessions, there’s only one way to say it: Unless the seller offers you a concession after the final purchase price has been agreed upon – you’re going to be paying for it, one way or another.

Think about it: It’s one thing if, for example, you agree to pay $200,000 for a home; then after the fact, the seller offers to pay 3% of your closing costs. But that’s almost never how it works. In a typical sale – you make an offer first, and in that offer you ask for a 3% concession towards your closing costs. And then the seller accepts your offer.

But wait – that means you could have just as easily purchased that home for 3% less. And as most buyers will usually finance the maximum loan amount for their purchase, that means you just earned the privilege of financing your own closing costs over the next 30 years. Ouch.

The examples described above are just two of many situations where builders and sellers lure buyers by making offers that sound “too good to be true.” But in most cases, it’s good to remember that’s exactly what they are. Knowing that they’re operating with a “back-door” to your wallet will make it easier for you to see through the smoke and mirrors and know exactly what you’re paying for when buying a home.

And we’d like to give you one more key piece of advice that every home buyer should be aware of: Working with your own real estate professional can help you avoid these pitfalls – as they are required by law to operate in the best interests of their client: You.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly-built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!


Whether you’re new to homeownership, or in the process of hunting for your 10th residence – the one thing that most of us have in common is the need for a mortgage lender. (Any recent lottery winners out there? If so, you have our permission to skip this article.) And thank goodness for mortgage loans, because without them, it would take an awfully long time to scrape together the pile of cash needed to buy a home.

One thing that many buyers don’t realize, though, is that much like any other products we buy – the cost of a mortgage loan can vary widely from one lender to another. In fact, mortgage lenders themselves fall into different categories – such as banks, mortgage bankers, and mortgage brokers. For those not in the industry, the assumption is usually that all three of those are pretty much the same. But as real estate professionals who have worked with scores of different lenders, we can assure you, the loans they offer – and the costs they charge to obtain those loans – can be very, very different.

Since the economic downturn and housing market crisis, new regulations have gone into effect (Dodd-Frank) that were designed to assist and protect consumers seeking mortgage loans. One of the benefits to buyers coming soon is the implementation of new loan disclosure requirements (they go into effect nationwide on October 3, 2015).

One other benefit is that many of these laws placed restrictions on the fees that mortgage brokers, specifically, can collect from buyers for a home loan – and that is one of the reasons that all homebuyers should shop around. (Note: Some real estate professionals will guide clients to one particular lender, but there can be reasons for this that may not be financially beneficial to the borrower. They are known as “Market Service Agreements, and New Home Resource does not engage in this practice. Click here to learn more on this subject.)

One local mortgage broker who has taken a consumer-friendly approach with its home loans for Las Vegas valley homebuyers is Premier Mortgage Lending. Taking its cue from the Consumer Financial Protection Bureau’s (CFPB) new “Know Before You Owe” program, Premier Mortgage even created a complementary website, to help consumers be aware of their rights and options – and to offer plain-language explanations to your home loan questions.

Embracing the concept of ‘mortgage loan transparency,’ Premier Mortgage is one of the few Las Vegas lenders that offers a true “No Fee” home loan – meaning: No Loan Origination, Underwriting Fee, or Documentation Fees, which can literally save a borrower thousands of dollars out of pocket. That can mean the difference between getting the house you want – and the home you love. Or even in your ability to hear the words “Your loan was approved!” – rather than “We’re sorry to tell you . . .”

Shopping around for the right home loan is starting to sound like a pretty good idea now, right? We suggest contacting numerous lenders, gathering their Loan Estimates together, and then comparing them line-by-line. The CFPB has some tips here on how to do that, too.

In your search for the right mortgage lender, it’s helpful to have a good grasp of the terminology, too. Knowledge is power – so we’re going to leave you with a list of 15 lending terms that every homebuyer should be familiar with:

1. Adjustable Rate Mortgage (ARM). A type of loan where the interest rate changes periodically, up or down. Rates change generally according to movement in the financial market.

2. Annual Percentage Rate. The yearly cost of finance charges (interest, loan fees, service charges, mortgage insurance or other items).

3. Appraisal. An opinion of the fair market value of a land parcel and any improvements at a given point in time. This evaluation generally determines what the property would sell for in the current marketplace.

4. Cap. The limit to the amount an interest rate or monthly payment can increase for an ARM; may apply to either each adjustment or over the life of the loan, or both.

5. Closing. The final step in the purchase process when, through a licensed escrow holder (a neutral third party) the payment of the purchase price to the seller is completed, the Buyer’s note and loan agreement are delivered to the lender, and the deed to the buyer and any mortgage (trust deed) are delivered to the county recorder’s office for recordation.

6. Conventional Loan. A mortgage-secured loan that is not insured or guaranteed by a government agency such as FHA or VA.

7. Credit rating. A numerical score formulated by a credit bureau to assist a lender and seller in determining if a potential home buyer is a good credit risk. Your credit score can make a big difference in your costs and interest rate – so take good care of it.

8. Earnest Money. Money the buyer gives the seller to motivate the seller to enter into a purchase agreement with the buyer. These funds are later applied to the purchase price of the home, but are also funds at risk in the event the buyer breaches the purchase contract.

9. Fixed Rate Mortgage. A loan with an interest rate that remains the same for the entire repayment term.

10. Government Loan. FHA: This type of mortgage is backed by the Federal Housing Administration (FHA). VA: This type of mortgage is backed by the Department of Veteran Affairs. The maximum loan amount for these types of loans varies by county.

11. Mortgage Lender. This term includes banks, mortgage bankers, and mortgage brokers. Banks and mortgage bankers are typically ‘direct lenders’ who offer loan programs and services from a single bank. Mortgage brokers have the ability to shop your loan (using a single loan application) with numerous banks and lenders simultaneously to find you the lowest interest rate and/or the best loan program.

12. Equity. The difference between what a home is valued and what is owed on it.

13. PITI. Principal, interest, taxes and insurance; a quick way to reference your combined monthly house payment.

14. Principal. The amount of a loan, not including interest or other charges.

15. Private Mortgage Insurance (PMI). A type of insurance that is usually required by a lender if your down payment or equity is less than 20 percent of the loan value. PMI insures the lender against loss if you were to default on your mortgage.

New Home Resource helps current and future homeowners with all of their Las Vegas real estate needs. Whether your preference is for a newly-built home from a local builder, or a resale property in just the right location, a New Home Resource Realtor® is here to find the perfect property for you. Please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

As a new homeowner or as a homeowner looking for a new home, we here at New Home Resource strive to be the one source for all your house searching or selling requirements. Whether you’re moving to Summerlin or Mountain’s Edge, we ensure that you’re happy with your home. After you find that ideal locale to begin new experiences, we have some places, sites and stuff to-do you and your entire home can be a part of.

First, you may want to stop by the Las Vegas Springs Preserve if you need a good dose of gorgeous green to satisfy your adventurer’s palate. The Las Vegas Springs Preserve offers educational and recreational opportunities for the whole family. This activity can be a whole day affair or just an afternoon after school.

Do your kids have a sweet tooth? These next two hotspots are great options for the clan. The World of Coca-Cola is interactive and entertaining. Enjoy samples of your favorite soda and some informative tours about Coca-Cola soft drinks around the world. Additionally, right next door is M&M World. What’s an afternoon without a little candy? Fill up on sugar or stock up on gifts for the rest of the year.

After the family is full of sweets, it’s time to burn off that extra energy at Red Rock National Conservation Area. Organize a short walk to some stunning scenic areas or plan an entire day hike with a picnic. Red Rock National Conservation Area offers an assortment of different trails so all ages can have a good time outdoors. Don’t forget to bring sunblock!

If you and your family are ready for new adventures as well as a new home or wanting to sell your current home in exchange for adventures elsewhere, please contact a New Home Resource Realtor® today at 702-365-1000 or at Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!

To overstate the obvious, purchasing a new home is a big deal. No one should rush into a deal without thoroughly thinking it through first. For most people, a house will be the biggest asset they have. That being said, many potential homeowners have a nasty habit of waiting too long to make a decision. This caution could have the unintended consequence of letting a once-in-a-lifetime opportunity slip vanish. Consider the following tips to avoid getting “decision fatigue” when you’re trying to decide whether or not to buy a home.

Understand the consequences: Why is waiting such a bad decision? Simply put, it’s a buyer’s market out there. Say, you’ve found the home of your dreams but you hesitate to pull the trigger on the deal. Perhaps you want to get the price down just a little more. Well, chances are that there’s someone out there willing to make that deal right away.

Leave emotion out of the process: Sure this is easier said than done, but you can’t let stress consume you when you’re considering a new home. Take a deep breath and talk with your significant other about the options. Ask friends or family for their opinions, but be careful not get overwhelmed with everyone’s point of view. The decision comes down to you.

Stick to the plan: Hopefully you did some preparation before beginning your search for a new home. This could include a specific price range, location, property size, etc. If the house in question falls within your parameters, then make the deal. Having a wonderful new home will be much better than wondering about what could have been.

As we all know, most things about traditional home buying have gone out the window. This includes what we all know as a down payment. Traditionally, homebuyers took a 30-year-fixed loan and put 20 percent down and that just is not the case anymore.

Myth #5: A buyer must put down 20 percent to get a loan…


This rule has become a myth over the years, it was originally true. Times have changed and with that, home values have increased and new loan products have been created. Today, instead of putting a full 20 percent down, the FHA loans allow as little as 3 percent down. These types of loans are somewhat more difficult to obtain but are available to borrowers with strong credit and income.

Of course, buyers should always double check that their rate and payment is manageable in the long run. If you ask your Realtor® they can refer you to a home loan expert to explore different loan options, such as Premier Mortgage Lending.

Premier Mortgage Lending is known as Nevada’s Local Low Price Leader in home loan financing offering no fees and low rates. As a private lender, Premier Mortgage Lending saves you thousands in closing costs and finds the loan program the best meets the buyer’s needs.


If you are looking for a new home or wanting to sell your current home, please contact a New Home Resource Realtor® today at 702-365-1000. Broker Joanna Piette, and agents Denise Moreno Thrasher, Jessica O’Brien, Evelyn ‘Beng’ Kern, Lance Partin and Kathy Paterniti are all here to help!


Many people are nervous, anxious and distracted when looking to buy a home. What location? What is our budget? What if we buy the wrong one? Research and asking questions will kick start your process, along with these seven secrets for buying your next house…


1. When you are looking to buy your next home, avoid moving large amounts of money around or making uncommon, large purchases. Lenders need to see your stable and risk-free financial lifestyle so that you get the best loan possible.

2. Get pre-approved for your home loan before you start seriously looking to buy a home. Knowing how much you can afford and how much a lender will loan to you is crucial so you aren’t looking at houses you cannot afford.

3. There is no such thing as “the perfect time to buy”. The market is a constant, changing cycle and the right time to buy is when you find a house you love and can afford.

4. Don’t allow yourself to settle when buying a house, but bigger isn’t always better. The value of a larger home will continue to rise so don’t let your eyes be the guide. Think about living within your means.

5. Be sure to recognize when you’re getting a great house for a great value and try not to let your emotions overpower your instincts.

6. Hire a home inspector to look into your new potential home. Spending a few hundred in the beginning is better than wasting away thousands later on. Fixer upper areas are also good for bargaining,

7. Make sure you like the neighborhood. How far is it from schools, grocery shopping, work, etc? Drive around the neighborhood before buying into it so you don’t find out a little too late that the neighbors are loud or the area isn’t safe.