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Mortgage Blog

Advanced Funding Home Mortgage Loans' weekly mortgage blog is chock full of Utah mortgage loan advice, tips, and the latest mortgage and housing news. Whether you're considering a Utah refinance mortgage or the purchase of a new home in Salt Lake City or surrounding areas, we have the information and expertise to assist you in preparing for your homeowner journey. Our mission is to help you better understand how a mortgage in Salt Lake City works, so that you can make decisions that will maximize your savings, qualify you for the amount you desire, and avoid costly missteps. And when the time comes to begin the loan process we will be here to assist you throughout the entire mortgage process.
 

How Much House Can I Afford?

When you are ready to buy a home, whether for the first time or the tenth, it is always important to know how much you can afford to spend. This will help you narrow your home search and ensure you do not get in over your head financially. There are several factors to consider when determining how much house you can afford.   Debt Ratios Mortgage brokers will evaluate your debts relative to your income. The standard rule of thumb for debt-to-income ratios is 28/36. The first number means lenders prefer that your total housing debt- including your new mortgage, taxes, HOA fees, priv...

August 8th, 2018 | Purchasing a Home, Pre-qualification, First-Time Homebuyers, How Much House Can I Afford?

The Top 4 Reasons You Should Get a VA Loan

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the top 4 reasons you should look into buying a home with a VA loan:   Lower Interest Rates VA mortgage loans were designed to give veterans a leg-up in the home buying process as a way to thank them for their service. One of the loan perks is that the ...

August 1st, 2018 | VA Loans, The Top 4 Reasons You Should Get a VA Loan

Can I Qualify for an FHA Loan?

FHA loans (those sponsored by the Federal Housing Administration) are mortgages that allow low down payments and have relaxed credit score requirements, making them very popular with first-time homebuyers and those with less-than-perfect credit. If you think an FHA loan might fit your needs, the first step is to determine if you can qualify. Here are the basic requirements:    Credit Score & Down Payment Requirements for FHA Loans Credit score and down payment requirements are tied together under FHA loans. For those who have a FICO credit score of 580 or higher, the minim...

July 25th, 2018 | Government Loans, First-Time Homebuyers, FHA Loans, Can I Qualify for an FHA Loan?

Should I Pay Mortgage Points?

If you're buying a home or refinancing your Utah mortgage, you have probably heard about “mortgage points or discount points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick guide to help you figure it out.   What are Mortgage Points? Mortgage points – also known as discount points - are essentially a way to pay some of the mortgage interest upfront on your home loan. One point is equal to 1%...

July 18th, 2018 | Purchasing a Home, Interest Rates, Should I Pay Mortgage Points?

What's the Difference Between FHA Loans and Conventional Mortgages?

If you are just getting started in the home buying process, you have probably come across several different types of Utah mortgage loans as you have researched your options. Two of the most common home loan types are conventional and FHA mortgages. What are the differences between them and when does each make the most sense?   FHA Loans FHA or Federal Housing Administration, loans are government-insurance programs that make it easier for Americans without great credit or large down payments to become homeowners. When a borrower is approved for an FHA loan with an approved...

July 11th, 2018 | Government Loans, Conventional Loans, Purchasing a Home, First-Time Homebuyers, Home Buying Tips, FHA Loans, What's the Difference Between FHA Loans and Conventional Mortgages?

Happy Independence Day 2018!

We wish you a Happy Independence Day and hope that your day is filled with great food, fun, friends, family, and fireworks. Let us all remember the founding of our great nation and the freedoms we enjoy and all those who have sacrificed so much for us and our country. May we all come together to strengthen and protect freedom, liberty, and independence for all. If you know of anyone looking for a mortgage in Utah? Please let them know that they can contact Advanced Funding at 801-272-0600 today and we can go over the best Utah mortgage options for them.

July 3rd, 2018 Happy Independence Day 2018!

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Your Mortgage Broker

As a mortgage broker, we work with several Utah mortgage lenders, enabling us to offer you a variety of Utah mortgages at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more Utah home loans to help you achieve your goals. Whether you're buying a home or refinancing your current home, Advanced Funding is here to help. Our mortgage loan officers are available to help you during regular business hours or a time that is more suitable to your needs. Call today for more information, 801-272-0600.

Experience Matters

As a top mortgage company, Advanced Funding Home Mortgage Loans offers a variety of Utah mortgages and refinances. Our licensed Utah mortgage brokers are both knowledgeable and experienced to ensure you a pleasant home loan experience at the best interest rates available. We combine the use of technology, impeccable service, a dynamic management team, along with a well-trained, and experienced staff to produce results, such as great mortgage rates, low fees, and most importantly, a fast and pleasant loan experience.

Advanced Funding Home Mortgage Loans
6589 South 1300 East, Suite 200
Salt Lake City, UT 84121

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