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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: Can a Higher Interest Rate Actually be a Better Choice?

Can a Higher Interest Rate Actually be a Better Choice?

Mortgage interest rates are near record lows again. This can mean great deals for homebuyers and great savings for homebuyers. Some lenders will even start advertising rates that are at least a half-point lower than the average national rate. Buyers and refinancers should be aware that these ultra-low rate deals come with strings attached. In some cases, it may actually be better to choose a higher rate option. Here’s what you need to know:   Points In order to get some of these rock-bottom rate deals, borrowers are often required to pay discount points to the lender. One poi...

March 27th, 2020 | Interest Rates, Refinance, Home Buying or Selling, Homeowner Tips, Can a Higher Interest Rate Actually be a Better Choice?

Blog Image: Why NOT to Pay Off Your Mortgage Early

Why NOT to Pay Off Your Mortgage Early

Your mortgage payment is likely the biggest one you make each month. The thought of getting rid of that payment sooner and saving on some of the interest payments can be very attractive. However, there are plenty of trade-offs when you start diverting much of your disposable income toward extra mortgage payments. Here are several reasons why it may not be in your best interest to pay off your mortgage early.   Lost Investment Income In order to pay off a mortgage earlier than the traditional 30- or 15-year terms, you will have to devote a significant part of your monthly income on ...

January 29th, 2020 | Saving Money, Lifestyle, Homeowner Tips, Why NOT to Pay Off Your Mortgage Early

Blog Image: What Costs Can I Expect as a Home Seller?

What Costs Can I Expect as a Home Seller?

When you bought your house, the fees you paid included the closing costs for your mortgage, your down payment, and maybe some mortgage points. Now that you are ready to sell, there are a few more costs that you need to anticipate. In fact, according to Realtor.com, sellers often pay between 6% -10% of the sale price in fees and commissions.   Real Estate Agent Commission Fees It is customary for home sellers to pay both the seller’s and the buyer’s real estate agent commission fees out of the proceeds of the sale. The standard rate is 3% for each, totally 6% of the sale...

January 15th, 2020 | Homeowner Tips, Home Buying or Selling, What Costs Can I Expect as a Home Seller?

Blog Image: How to Pay for Your Home Improvement Project

How to Pay for Your Home Improvement Project

Whether its remodeling a kitchen or bathroom or building a new deck outside, most homeowners will eventually want to make changes to their homes. While these improvements usually cost much less than it would to buy a new home, they can still be expensive. For example, even minor kitchen remodels cost an average of $21,000 in 2018, according to Remodeling Magazine, with mid-range kitchen updates averaging as much as $64,000. Many homeowners do not have that kind of cash lying around. Fortunately, there are at least four different ways to pay for a home improvement project.   Home Eq...

January 8th, 2020 | Homeowner Tips, Loan Programs, Refinance, How to Pay for Your Home Improvement Project

Blog Image: 6 Tips to Get a Rock-Bottom Home Loan Payment

6 Tips to Get a Rock-Bottom Home Loan Payment

Buying a home can be an overwhelming process, especially if it is your first time.  It can be easy to get swept along in the process without stopping to make sure you are getting the best deal on your mortgage payment. There are at least six ways to ensure that at the end of the homebuying adventure you end up with the absolute possible lowest home loan payment.   Negotiate for the Lowest Interest Rate Once you have been approved for a mortgage, you will be offered a mortgage interest rate by your lender. That rate can sometimes be negotiated. Your lender may suggest ways yo...

December 11th, 2019 | Home Buying or Selling, Refinance, Mortgage Basics, Homeowner Tips, Saving Money, 6 Tips to Get a Rock-Bottom Home Loan Payment

Blog Image: How to Cancel FHA Mortgage Insurance

How to Cancel FHA Mortgage Insurance

Mortgage loans made by the Federal Housing Administration can be a huge help to homebuyers without a large down payment. FHA loans require down payments of as little as 3.5%. Traditional loans often require 20%. Yet FHA mortgages come with some strings attached, namely FHA mortgage insurance. Almost all mortgage loans made with less than a 20% down payment require some form of mortgage insurance. This insurance protects the lender against losses from the borrower defaulting in the first several years of the loan. It is typically paid monthly and is tacked onto the mortgage payment. With con...

December 4th, 2019 | FHA Loans, Refinance, Homeowner Tips, How to Cancel FHA Mortgage Insurance

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