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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: What is an ARM loan?

What is an ARM loan?

While fixed-rate loans are one of the most popular choices for mortgage loans, there is another choice: the adjustable-rate mortgage or ARM loan. If you’ve ever wondered what an ARM loan is or why anyone would want one, here is what you need to know:   ARMs Defined An adjustable-rate mortgage is a type of home loan with a short fixed-rate period, after which the interest rate is allowed to adjust periodically based on certain market indexes.   How an ARM Works An ARM loan comes with an initial low-rate period of anywhere from one to ten years. During that time, yo...

June 17th, 2020 | Interest Rates, Loan Programs, What is an ARM loan?

Blog Image: The Best Utah Home Loans for Buying a Fixer-Upper

The Best Utah Home Loans for Buying a Fixer-Upper

You’ve found the perfect Utah property – or at least what could be the perfect property after a few improvements. Upfront repairs and renovations can take a toll on your budget though. Fortunately, there are several mortgage options that will allow you to buy the house and borrow money for improvements all at once. All of these home loans are made by traditional lenders and guaranteed by government agencies or groups.   Fannie Mae HomeStyle Renovation Mortgage Government-sponsored entity Fannie Mae backs a mortgage product that is both a traditional mortgage and a home ...

April 1st, 2020 | Home Improvement, Loan Programs, The Best Utah Home Loans for Buying a Fixer-Upper

Blog Image: How Can I Qualify for a Home Equity Loan?

How Can I Qualify for a Home Equity Loan?

Whether you are remodeling your kitchen, consolidating several big debts, or paying for your child’s college tuition, a home equity loan can be one of the most cost-effective ways to borrow money. Interest rates are lower on mortgages than on almost any other type of loan. But how do you know if you can qualify for a home equity loan? Here’s what you need to know to be approved for one of these popular loans:   How a Home Equity Loan Works A home equity loan is a second mortgage. It uses your home as collateral and allows you to borrow against your existing equity. Your...

March 18th, 2020 | Loan Programs, How Can I Qualify for a Home Equity Loan?

Blog Image: What Does it Take to Refinance a Jumbo Loan?

What Does it Take to Refinance a Jumbo Loan?

Mortgage interest rates have dropped significantly in the past year and everyone wants to take advantage of the savings. Those who have jumbo loans – mortgages with balances over the conforming loan limit of $510,400 in most areas, including Utah – may wonder if they can refinance their loans too. The answer is a definite yes! There may be some additional requirements, but jumbo loan holders can absolutely benefit from today’s lower rates.   Jumbo Loan Criteria Because jumbo loans involve such large amounts of money, the requirements for refinancing are typically ...

February 26th, 2020 | Refinance, Loan Programs, What Does it Take to Refinance a Jumbo Loan?

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: FHFA Announces Maximum Conforming Loan Limits for 2020

FHFA Announces Maximum Conforming Loan Limits for 2020

Fannie Mae and Freddie Mac Conventional Loan Limit Will Increase to $510,400 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020. In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an increase from $484,350 in 2019.   Baseline Limit The Housing and Economic Recovery Act (HERA) requires that the baseline conventional loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the...

November 26th, 2019 | Conventional Loans, Mortgage News, Loan Programs, FHFA Announces Maximum Conforming Loan Limits for 2020

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