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Mortgage BLOG

Advanced Funding Home Mortgage Loans' mortgage blog is chock full of mortgage loan advice, tips, and the latest mortgage and housing news. Whether you're considering a Utah refinance or thinking of buying a home. We have the experience and expertise to assist you as you prepare for your homeowner journey. Our mission is to help you understand how the mortgage loan process works so that you can make decisions that will maximize your savings, qualify you for the amount you desire, and avoid costly missteps.

 

How to Qualify for a Mortgage When Your Income Isn’t Steady

Mortgage brokers and lenders love to see borrowers with consistent, steady incomes. But not all borrowers have jobs that send a paycheck every two weeks. Of course, there are plenty of self-employed entrepreneurs, but there are also people who depend on tips for income, those who get paid by contract and also individuals who work per diem or on call. All of these situations can make it very challenging to provide proof of the steady income that mortgage lenders adore. Fortunately, those with more creative incomes can still qualify for a home loan and it is getting easier. For example, in re...

October 10th, 2018 | Purchasing a Home, Conventional Loans, How to Qualify for a Mortgage When Your Income Isn’t Steady

6 Facts About Private Mortgage Insurance

Private Mortgage Insurance (PMI) is a type of insurance that most borrowers may be required to pay if they are not making a down payment of 20% or more. While you may think you understand the concept of insurance, if you have never bought a house before, you may not realize that PMI is different than most types of insurance. Here are five PMI facts every buyer should know:   1. PMI Protects the Lender, Not the Buyer Most insurance is something you buy to protect yourself – your car, your home, your health, etc. PMI is something you pay for but it actually protects the lender,...

October 3rd, 2018 | Conventional Loans, First-time Homebuyers, 6 Facts About Private Mortgage Insurance

Should I Roll My Student Loans into My Mortgage?

Americans owe more today in student loans than ever before and student debt is continuing to rise. As these borrowers start into their careers and become homeowners, they may have the opportunity to consolidate their student loan debts with their home loan. If this sounds intriguing to you, here’s what you need to know before talking to your mortgage broker:   How Does Consolidation Work? If you have enough equity in your home, you can refinance to pull cash out and pay off all your student loans. This means that both debts will now all be paid off together through your month...

September 26th, 2018 | Mortgage, Debt Consolidation , Refinance, Should I Roll My Student Loans into My Mortgage?

It's Time to Get Your Home Ready for Winter

Fall is here! That means it’s time for some autumn home maintenance. As a homeowner, there is a lot you can do to reduce the chance of a costly wintertime home repair disaster, make your home safer and save a bit of money. Here are some of the most important tasks to do now. Install carbon monoxide detectors. Carbon monoxide is a deadly, colorless gas. A carbon monoxide detector could save the lives of everyone in your home in the event of a malfunctioning furnace, hot water heater, stove, room heater or fireplace. CO alarms should be installed outside each sleeping area and on every ...

September 22nd, 2018 | Home Owner Tips, It's Time to Get Your Home Ready for Winter

Should I Make a Biweekly Mortgage Payment?

Many homeowners are eager to pay off or pay down their mortgages in order to save themselves money in interest charges. Many lenders have even anticipated this situation by offering buyers a bi-weekly payment program.   What is a Bi-Weekly Mortgage Payment? Most mortgages are paid once a month, making 12 payments every year. With a bi-weekly payment schedule, the monthly mortgage amount is split into two and paid every two weeks instead. Since there are 52 weeks in a year, this results in 26 half payments annually, totaling 13 whole payments. This means borrowers basically pay...

September 19th, 2018 | First-time Homebuyers, Purchasing a Home, Mortgage, Should I Make a Biweekly Mortgage Payment?

What is a Piggyback Mortgage?

In order to achieve the dream of homeownership, many buyers look for creative financing to aid them in their quest. One such option is a piggyback mortgage, which actually involves taking out two separate loans to make homeownership more affordable. These loans can be very helpful, but borrowers must know the risks in order to be successful.   Piggyback Definition Here’s how a piggyback mortgage works. You take out a traditional home loan for 80% of the home purchase price. You put down 10% of your own cash as a downpayment. Then in order to cover the remaining 10%, you take ...

September 12th, 2018 | First-time Homebuyers, Conventional Loans, Purchasing a Home, What is a Piggyback Mortgage?

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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.

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As one of the most trusted and respected mortgage companies, Advanced Funding Home Mortgage Loans offers a variety of Utah mortgages and refinances. Our licensed 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.

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Salt Lake City, UT 84121

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