The New Mortgage Rules – Great For Consumers

Premier Mortgage Lending’s Rick Piette, would like to share the effect the Dodd-Frank Act has had on mortgage reform. The Dodd-Frank Act, better known as the Financial Return Act, was originally passed in 2009. After writing the regulations, the final rules took affect in January, 2014. Since then, everything you’ve known about the mortgage industry has changed – introducing “The No Fee Mortgage”.

“No Fees and the lowest possible rate – Isn’t that what you want when you close on your home loan?”

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The worst things you can do before buying a home

There are so many rules in life, especially when you are looking to buy a home! Below is a list of a few things you should NOT do if you are thinking about buying a home.


1. Swipe the credit cards

You do not want to charge anything big (boat, car, furniture, appliances) to your credit cards before closing on a home. Even be very careful with minor expenses. If you do need to obtain new credit it is important to talk with you trusted loan officer first.

2. Shuffle your money around

When applying for a loan, don’t start moving large amounts of money around. Your account activity is recorded multiple times during the process and if something seems suspicious or unnatural it could harm your chances of approval.

3. Fall behind on bills

Don’t let a late payment or missed payment collapse your deal. Payment history is a very important part of your credit score.

4. Co-signing loans

When you co-sign a loan you are taking financial responsibility for someone else’s debt. It is especially risky during the mortgage lending process because that is another monthly obligation into your overall affordability.Unknown

5. Switching up your profession

Make sure your job is stable and try not to switch in the middle of your mortgage process. Stable, reliable income makes for the easiest experience.

For additional information or to schedule an appointment for mortgage prequalification or refinancing, call Premier Mortgage Lending at 485-6600 or visit

Premier Mortgage Lending, NMLS #393282, is located at 8689 W. Sahara Ave., Suite 100, Las Vegas, 89117. The full-service lender is a member of the Las Vegas and Boulder City Chamber of Commerce, Better Business Bureau and Southern Nevada Home Builders Association, as well as an affiliate member of the Greater Las Vegas Association of Realtors.