Derek Parent: Lending Solutions from Your Expert High-Rise Lender

The Parent Team is thrilled to have been acquired by CrossCountry Mortgage.

Photos by Ella Gagiano Studios

Under Derek Parents leadership the latest acquisition has allowed The Parent Team to expand their mortgage products and programs nationwide. CrossCountry Mortgage is proud and honored to be included on the prestigious Inc. 5000 List. as a trusted resource for both their customers and referral partners. In our interview, Parent discusses everything from lending solutions, tips in purchasing and financing a home in 2019, getting approved for high-rise condominium, to why refinancing may be good option. Here is what the expert lender had to say.

 

Q: What do you love most about the lending process?

 This may sound cliché, but I honestly LOVE what I do. I am incredibly passionate about being a lender. Every day, I get to be a part of a huge milestone moment in people’s lives by making it possible for them to achieve the American dream of home ownership where they’ll create long lasting memories for years to come.

I also really enjoy being innovative, taking on challenges and thinking outside of the box. Whether I’m working with a client who gets turned down the first time or filling an industry need like we did by bringing conventional financing for high-rises to the Las Vegas strip.

Q: What are some lending solutions you offer at CrossCountry Mortgage?

We pride ourselves on our niche products that meet the changing needs of today’s homebuyer. Of course, our expertise in condo financing will continue to set us apart from any lender in Las Vegas, but many of our clients today are choosing to create their dream homes exactly how they want them, so renovation and construction loans are increasingly in demand. We have a dedicated renovation department and our renovation loan programs include FHA 203(k) Limited, FHA 203(k) Standard, Fannie Mae Homestyle and VA renovation, each offering low down payment options and low out-of-pocket costs.

On the construction side, we offer One Time Close (OTC) Conventional Construction to Permanent Financing for both the lot purchase and the home build itself. We offer a variety of terms that allow for the payment of interest only during construction, and we handle the entire process in-house to make everything less complicated for the customer.

And because homebuyers prefer to close as quickly as possible, we offer our FastTrack Credit Approval program. Our customers appreciate the competitive edge we give them to buy the home they want before someone else does. With FastTrack, they are conditionally approved for a loan before they see their first house, underwriting is complete before they pick a house, and we clear all credit conditions before they sign a purchase agreement. It all results in getting them to the closing table in as few as 10 days after they sign the agreement. Who does that? We do.

Q: Do you think it is a good time to refinance with current interest rates?

Right now, is a GREAT time to refinance with rates being low. Refinancing is a great way to save money, consolidate debt as well as make upgrades to your home to increase value.

 

Q: How do your services differentiate from other lenders?

Hands down, our knowledge and expertise wins every time. We specialize in fall out deals because so many realtors and buyers turn to us when other companies are unable to figure out how to get a loan done. If you’re a buyer or realtor, save yourself the time, energy and money from the start and come to us first!

Also, lending has been my passion for 20 years and I’m committed to helping anyone who wants to become an owner achieve that goal. Our loans range between $70,000-$3 million. Many lenders won’t even touch a loan under $150,000. My team and I are here to make home ownership possible for everyone.

 

Q: As an expert high-rise lender, what are some key things buyers should consider when shopping for a loan in today’s market?

Specifically, with high-rise and mid-rise condos, I have over 175 condo projects approved for financing and the list grows every day. Other lenders in town will charge buyers for a condo questionnaire to get financing on the project approved which ranges between $300-$500. My clients will never pay for a condo questionnaire as I cover this fee every single time and it’s likely already on my list. The danger with other lenders charging buyers for this is if a project is not financeable, the buyer loses out on that $300-$500 in addition to all other fees incurred for the transaction.

 

Q: Can you tell us a little bit about your Affinity Benefits Program and the value it brings to companies and their employees?

Recruiting and retaining top talent is critical in today’s workforce and our Affinity Benefits Program is a partnership we created with businesses to offer all their employees a $2,198 home ownership benefit at NO COST to the company or employee. With unemployment at an all-time low, it’s essential for companies to provide added value and create a positive work environment. This program was designed to help companies boost their corporate culture and build loyalty by giving back to their employees for FREE. Additionally, we can qualify buyers with a job offer or transfer letter 60 days before they start day one on the job. It’s a phenomenal tool I look forward to supporting our business community with.

Q: As a busy business professional and high-rise resident, what attracted you to buy a condominium?

Well, it’s funny because as a young kid living in Rhode Island, I watched many boxing matches taking place on the Las Vegas strip. To now own a piece of the Las Vegas strip is a wild dream I never could have imagined! I literally live on Las Vegas Blvd. That’s crazy!

At the end of the day, the lifestyle is the ultimate selling point. My building is extremely secure so it’s safe, I have the luxury of walking downstairs and dining at any 5-star restaurant of any kind of cuisine I wish, and the convenience factor can’t be beat.

 

Q: Any exciting news you would like to share with us?

I’m extremely focused and committed to supporting the rapid growth and giving back to our great city through home ownership so I’ve recently joined the Las Vegas HEALS Board of Directors to help elevate healthcare in southern Nevada as well as the President’s Club of the Las Vegas Metro Chamber of Commerce. Lastly, I’m excited to serve on the Leadership Committee for the 2020 Scale the Strat where we’ll fight for air climb all the way up the Stratosphere tower! Please join us February 23rd! It’s a blast!

Derek J. Parent-Branch Manager, NMLS# 182283

 For more information about Derek J. Parent and The Parent Team at  CrossCountry Mortgage, Inc. please email derek.parent@myccmortgage.com or call 702 331-8185.

 

 

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