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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

Energy Efficient Mortgage Program

The federal government has aimed to help increase homeownership for decades. One of the Federal Housing Administration’s many programs to help Americans, including those in Utah, in their homeownership dreams is the Energy Efficient Mortgage program (EEM). Many homes, especially older ones, could be much more affordable if they were updated to be more energy efficient. The EEM allows borrows to make those updates and save money as new homeowners. The Department of Housing and Urban Development (HUD) first created the Energy Efficient Mortgage program in 1992 and piloted it in fiv...

July 17th, 2019 | FHA Loans, Saving Money, Home Buying or Selling, Energy Efficient Mortgage Program

What is a Loan-to-Value Ratio?

Once you get serious about buying a home or refinancing your current mortgage, you will probably hear the term “loan-to-value ratio” mentioned by your mortgage broker. What is this ratio and how does it affect your Utah mortgage?   Loan-to-Value Ratio Defined A Loan-to-value ratio, also known as an LTV ratio, is the calculation of how large your mortgage is compared to the value of your property. In order to find your LTV,  divide your loan amount by the appraised value or the purchase price, whichever is lower, of the property in question. In general, the low...

July 10th, 2019 | Home Buying or Selling, Credit and Debt, Interest Rates, What is a Loan-to-Value Ratio?

VA Mortgage Loan Cap Eliminated

U.S. military veterans can now apply for VA mortgage loan that now exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). The Blue Water Navy Vietnam Veterans Act, unanimously approved by the Senate and signed into law Tuesday by President Trump, removed the previous loan cap of $484,350 for VA loans. However, there will be some increase in VA fees as the law also provides disability compensation for veterans who suffer from Agent Orange-related diseases. The increase in fees will help to pay for those health care benefits.

July 8th, 2019 | VA Loans, VA Mortgage Loan Cap Eliminated

Happy 4th of July

We want to wish you a Happy Fourth of July! It is because of clients like you who believe in this great country and the dream of homeownership that we have reason to celebrate. "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness." Declaration of Independence - July 4, 1776

July 3rd, 2019 | Lifestyle, Family, Happy 4th of July

Can I Refinance Without Closing Costs?

Mortgage refinance loans require fees and closing costs. Is there a way around those fees? Is it possible to refinance without paying closing costs? The answer is yes, although the rest of your loan will be affected. The typical fees associated with refinance loans include mortgage lender fees and third-party fees. Lenders fees consist of things like origination (Advanced Funding does not charge this fee), processing, and underwriting. Some no-cost refinance programs have the lender pay for all these fees but still require the borrower to pay for third-party costs. Those are made up of...

June 26th, 2019 | Saving Money, Refinance, Homeowner Tips, Can I Refinance Without Closing Costs?

Featured Chart - May New Home Sales Disappoint

May New Home Sales Disappoint Sales of new homes fell by nearly 8% in May from April by to an annual rate of 626,000 units, below the 683,000 expected. From May 2018 to May 2019, sales declined 3.7%. Inventories are now just above normal rates of 6 months, currently at 6.4 months. The median price of a new home sold in May was $308,000, 2.7% lower than a year ago. New home sales declined in the Northeast and West with gains seen in the Midwest and South.   Buy a New Home Inquire Now Vantage Production, LLC is the copyright owner or licensee of the content and/or information i...

June 25th, 2019 | Mortgage News, Featured Chart - May New Home Sales Disappoint

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