801-272-0600
nathan@advancedfunding.com
Apply Now
Secure Doc Upload

Advanced Funding Logo

Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

Blog Image: Why a Mortgage is Good Debt

Why a Mortgage is Good Debt

In today’s coronavirus-crisis economy, many Americans may be regretting taking on debt in the past or facing new debt to cover expenses during unemployment. And yet millions of consumers continue to apply for mortgages for home purchases, one of the largest debts most people will ever assume. The reason for this is that some debt is actually considered “good debt.” Here’s how to tell the difference between good and bad debt and why mortgage loans fall under that category.   Good Debt There are several crucial factors that determine good debt. First, financin...

September 2nd, 2020 | Credit and Debt, Mortgage Basics, Why a Mortgage is Good Debt

Blog Image: How Bad Is It to Miss a Mortgage Payment?

How Bad Is It to Miss a Mortgage Payment?

No one signs a mortgage contract thinking they won’t be able to keep up with the payments. And yet life sometimes throws us curveballs. The recent coronavirus crisis, for example, has sent millions into unemployment and a state of financial uncertainty. If an emergency hits and you are short on cash, how bad is it to miss a mortgage payment?   What Does ‘Late’ Mean? For most home loans, the payment is typically due on the first of the month. Most mortgage servicing companies will give borrowers a grace period, with the final payment date of the 16th befo...

August 20th, 2020 | Homeowner Tips, Credit and Debt, How Bad Is It to Miss a Mortgage Payment?

Blog Image: New FICO “Resilience” Credit Score Could Help Borrowers

New FICO “Resilience” Credit Score Could Help Borrowers

As the U.S. economy reels from record-high unemployment and continued COVID-19 shutdowns, the Fair Isaac Corp. (FICO), a global analytics company and producer of the FICO credit score, released a new credit index recently it hopes will keep mortgage lending in Utah and other loans flowing during these unprecedented times. After reviewing over 70 million consumer credit files from the Great Recession, FICO found that the majority of consumers - including those with lower credit scores - kept up with their financial obligations even during that time of double-digit unemployment and devas...

July 15th, 2020 | Credit and Debt, Mortgage News, New FICO “Resilience” Credit Score Could Help Borrowers

Blog Image: 7 Tips to Improve Your Credit Before Applying for a Utah Mortgage

7 Tips to Improve Your Credit Before Applying for a Utah Mortgage

In addition to income and assets, your credit profile is one of the biggest factors in determining whether you qualify for a mortgage. If your credit score is not currently in a desirable range, there are plenty of ways you can improve it to up your chances of home loan approval. Here are the top seven:   Check your credit reports for accuracy According to a study from the Federal Trade Commission, one in five people has an error on at least one of their credit reports. Many errors do not substantially affect credit reports, but some can significantly lower scores. By law, you ca...

June 24th, 2020 | Credit and Debt, Conventional Loans, 7 Tips to Improve Your Credit Before Applying for a Utah Mortgage

Blog Image: 4 Reasons Why You Should Refinance NOW

4 Reasons Why You Should Refinance NOW

Mortgage interest rates are hovering near record lows this year, and the latest forecasts have rates continuing to be low throughout the coming year. Many homeowners have already taken advantage of these historically low rates by refinancing their Utah mortgage. If you have not yet refinanced, here are four good reasons why now is the perfect time:   1. Save Money Now and Later If you took out a home loan at an interest rate any higher than today’s current rates, you could possibly save yourself hundreds of dollars a month on payments and tens of thou...

January 22nd, 2020 | Refinance, Interest Rates, Saving Money, Home Improvement, Credit and Debt, 4 Reasons Why You Should Refinance NOW

Blog Image: Can I Refinance with Bad Credit?

Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some Utah homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality:   Learn Your Options Start with an open discussion with a Utah mortgage broker. Let them know you do not have the best credit but that you wou...

October 9th, 2019 | Refinance, Credit and Debt, Can I Refinance with Bad Credit?

Pages: 1 2 3 4 Next >