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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: How are Mortgage Interests Rate Determined?

How are Mortgage Interests Rate Determined?

Getting the very lowest interest rate is usually top priority for most home loan seekers but mortgage rates can vary widely from day to day and year to year. They are influenced by international and domestic market changes as well as an individual borrower’s financial details and loan packages. In order to get the best rate, it is essential to understand all the factors that determine mortgage interest rates.   The Federal Reserve and 10-year Treasury Bond Yield The general range for mortgage rates at any particular time is heavily influenced by the world and U.S. financial...

August 5th, 2020 | Interest Rates, Mortgage Basics, How are Mortgage Interests Rate Determined?

Blog Image: What Happens If I Lose My Job During the Mortgage Process?

What Happens If I Lose My Job During the Mortgage Process?

You are midway through the process of closing on a new home or a refinance mortgage. Then you lose your job. In today’s coronavirus crisis climate, plenty of home buyers and homeowners have faced this situation. Can the home loan go through or is it curtains for your new mortgage? While becoming unemployed during the loan underwriting process is much less-than-ideal, there may be some rays of hope.   Temporary or Permanent Job Loss Sometimes income loss is due to furloughs. If you have a commitment from your employer as to when you will return to work or your income will resu...

July 29th, 2020 | Mortgage Basics, What Happens If I Lose My Job During the Mortgage Process?

Blog Image: Understanding Mortgage-Related Insurance

Understanding Mortgage-Related Insurance

When you buy a home with a mortgage, you will be required to pay all sorts of insurance, including homeowner’s insurance, title insurance, and private mortgage insurance. What are all these policies and why do you have to pay for them?   Homeowner’s Insurance Homeowner’s insurance is a policy that protects you against loss if your property or any structures on it are damaged. This covers damage from fire, storms, and vandalism. If you are unable to live in your home because of one of these issues, the insurance will also cover the cost of temporary housing while y...

June 3rd, 2020 | Mortgage Basics, Understanding Mortgage-Related Insurance

Blog Image: Will an Employment Gap Hurt My Chances for Mortgage Approval?

Will an Employment Gap Hurt My Chances for Mortgage Approval?

Employment history is a very important aspect of a mortgage application. Mortgage loans are usually for substantial sums of money and mortgage lenders want to reduce the risk that borrowers will default. One sign that a borrower will be consistent in making their mortgage payments is if they have a stable two-year history of employment. But what if you have gaps in your work history? Can you still qualify for a mortgage?   Gap Period Most lenders will only require a two-year work history, so if you had gaps prior to that period, you may not even need to inform your lender about it....

March 11th, 2020 | Mortgage Basics, Will an Employment Gap Hurt My Chances for Mortgage Approval?

Blog Image: Is Applying for Mortgage Online a Good Idea?

Is Applying for Mortgage Online a Good Idea?

You can do pretty much everything on the Internet today, including apply for mortgage financing. Just because something is digital, does that automatically mean it’s better? There are several factors to consider when deciding between applying online or in person. Because the Millennial generation is now at the prime age for homebuying, their preferences are influencing the mortgage industry. The National Association of Realtors reports that in 2018, millennials bought more homes in the U.S. than any other generation. This age group grew up with computers and the Internet and they love...

February 19th, 2020 | Lifestyle, Mortgage News, Mortgage Basics, Is Applying for Mortgage Online a Good Idea?

Blog Image: 3 Things Lenders Don’t Want to See on Your Bank Statements

3 Things Lenders Don’t Want to See on Your Bank Statements

When you take out a mortgage loan, your lender puts a lot of trust in you to repay the loan. Lenders can do this because they do thorough financial background checks on borrowers before agreeing to lend money. Your interest rate will be based on how credit-worthy you are based on those checks. Examining bank statements is one of the ways lenders check for eligibility.  If you want to have better odds of being approved for a mortgage, before you apply, make sure that your bank accounts do not include these three things in the last two months of statements:   1. Non-Sufficient Fund...

January 1st, 2020 | Home Buying or Selling, Mortgage Basics, 3 Things Lenders Don’t Want to See on Your Bank Statements

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