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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: The Little-Known Mortgage That Doesn’t Require a Down Payment

The Little-Known Mortgage That Doesn’t Require a Down Payment

Some conventional mortgage loan requires 20% down payment. If you are a first-time homebuyer, however, saving up tens of thousands of dollars can seem like an impossible task. Of course, there are loan programs, like FHA mortgages, that allow for low down payments, but they often have stricter requirements. For some of those programs, you may have to pay higher interest rates, have better credit scores, or pay higher mortgage insurance fees. Fortunately, there is a little-known mortgage loan that requires no down payment and minimal fees: the USDA loan.   USDA Loan Defined ...

September 9th, 2020 | Home Buying or Selling, USDA Loans, The Little-Known Mortgage That Doesn’t Require a Down Payment

Blog Image: Do You Have Enough Money to Buy a House?

Do You Have Enough Money to Buy a House?

When potential buyers are ready to begin their dreams of homeownership, they often start by looking at real estate listings. The asking prices are the starting point for determining how much home a buyer can afford, but there are plenty of other costs and fees not spelled out in that one number. By looking at all the associated expenses, you can decide if you have enough money to buy a home.   Down Payment Most mortgage loans require at least some down payment (VA loans for military are one big exception). A conventional loan an require as much as 20% down. For a $250,000 home, a...

August 12th, 2020 | Home Buying or Selling, Do You Have Enough Money to Buy a House?

Blog Image: Is Down Payment Assistance Still Available During COVID-19?

Is Down Payment Assistance Still Available During COVID-19?

Even as the demand for mortgage loans has ramped up since the coronavirus crisis began, some aspects of the home loan market have changed. With millions of homeowners applying for mortgage forbearance, lenders have had to take measures to mitigate possible future losses. Some borrowers are seeing higher credit score requirements, for example. Fortunately, one of the things that has not changed for first-time homebuyers is the ability to use down payment assistance programs. Saving up for an initial down payment was a monumental task for first-time buyers before COVID-19 with limited invento...

July 8th, 2020 | Home Buying or Selling, First-time Homebuyers, Is Down Payment Assistance Still Available During COVID-19?

Blog Image: Buying a First Home in an Expensive Area

Buying a First Home in an Expensive Area

For Utahs living and working in the nation’s most expensive real estate markets, homeownership can seem like the impossible dream. Prices are high and options can be limited. It may feel like home values rise faster than your ability to save up for a down payment. Although the process may look different than in other parts of the country, becoming a first-time homebuyer in a pricey area is possible. Here are some suggestions for making that dream a reality:   Determine Your Budget First, you need to figure out how much home you can afford. That number needs to be determined b...

July 1st, 2020 | Home Buying or Selling, First-time Homebuyers, Buying a First Home in an Expensive Area

Blog Image: FHFA: Borrowers in Forbearance CAN Refinance

FHFA: Borrowers in Forbearance CAN Refinance

The onset of the COVID-19 crisis has forced millions of Americans into unemployment, resulting in over 4.1 million homeowners applying for mortgage forbearance. There has been plenty of confusion about how the rules of forbearance – a payment deferral plan – affect everything from credit scores to the ability to refinance or sell. Last week the Federal Housing Finance Agency announced changes to Fannie Mae and Freddie Mac forbearance policy that will allow borrowers to refinance out of their modified loans. In the past, mortgage loans in forbearance could not be refinanced for a...

May 27th, 2020 | Mortgage News, Refinance, Home Buying or Selling, FHFA: Borrowers in Forbearance CAN Refinance

Blog Image: The COVID-19 Housing Market is Better than the Great Recession Market

The COVID-19 Housing Market is Better than the Great Recession Market

Coronavirus shutdowns have spooked many homebuyers and sellers out of the market for now. Millions of homeowners have applied for mortgage forbearance in fear they will be unable to make their payments due to unemployment. Lenders have been concerned about continuing to repay their investors while not receiving payments from borrowers. All of this has prompted some to wonder if we are likely to see another housing market crash like the one that led to the Great Recession. After looking at the numbers, however, today’s homeowners are in a much better spot to weather an economic storm than...

May 13th, 2020 | Home Buying or Selling, Mortgage News, The COVID-19 Housing Market is Better than the Great Recession Market

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