Focused on home ownership
Prineville seems to be growing, and with it comes jobs and the need for real estate.
That was Randy Vance's reasoning when he opened the Prineville Premier Mortgage Resources, LLC branch earlier this month.
"The city and county leaders have basically paved the way for Prineville to grow over the next 10 to 15 years," he said. "It's affordable, it's away from the big city, per say, and it's really attractive to a lot of homebuyers."
The local office became officially licensed on Aug. 8. Vance, who is a Premier Mortgage Resources area manager and loan officer, shares a space with Marcia Hilber, a principal broker with Rogue Real Estate Sales and Property Management on North Main Street.
Vance has been in the mortgage industry since 1998 when he began working with the Bank of the Cascades in Sunriver.
He opened the Premier Mortgage Resources office in Bend two years ago. Since then, he has opened a branch in Sisters as well.
They specialize in residential real estate loans, offering a full menu of mortgage products.
They do everything, Vance pointed out, including FHA (Federal Housing Administration), VA (Veterans Affairs), USDA (United States Department of Agriculture), and 100 percent financing.
"That's the nice thing about Prineville and all of Crook County, is it's eligible for USDA 100 percent financing, so that makes it a little bit easier for buyers to buy," Vance pointed out.
The company formed in 1991 and now has 31 licensed locations west of the Mississippi staffed by more than 120 loan officers. Premier Mortgage Resources is a privately held mortgage bank that underwrites directly to agency guidelines.
Greg Mirecki and Rich Forde founded the corporation, which was originally part of a larger nationwide company. Mirecki and Forde operated Premier successfully for nearly 10 years. Through a series of mergers and acquisitions, the name was shelved, but the operations and several of the offices continued to operate until 2005.
In 2005, Mirecki and Forde reactivated the name, capitalized the company, and formed Premier Mortgage Resources, LLC in Portland. Their company vision is home ownership for their clients.
Vance said it made sense for him to open an office in Prineville because he already does a lot of business here, and he expects the real estate market to pick up even more.
"I know the city has been issuing quite a few permits — more than they did last year. They're encouraging big business to come to town," Vance said. "Lots of jobs means the need for real estate."
His company is currently looking for a permanent full-time loan officer for the Prineville branch. In the meantime, he will be in his new office a couple of days a week.
Vance realizes the importance of working with an Oregon corporation and says that's one of the main reasons he joined Premier Mortgage Resources.
"There's so many out-of-state lenders that are from L.A., New York or Dallas that are trying to get in here," he said. "Every dollar that's made goes somewhere else, so why not keep it in the state?"
Premier Mortgage Resources
Randy Vance, area manager/loan officer
Address: 427B N. Main St., Prineville