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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

Blog Image: What Fees Are Included in My Monthly Mortgage Payment?

What Fees Are Included in My Monthly Mortgage Payment?

You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you expected. What are all the fees in your monthly mortgage bill?   Mortgage Principal Your mortgage principal is the base amount of money you needed to borrow to buy a home. For example, if you are buying a $200,000 home and you put down 20%, your principal is $160,000. Almost all home loans are amortized, meaning they are structured so that the amount of principal you repay each month starts out small and increases over time....

December 18th, 2019 | Home Buying or Selling, Mortgage Basics, What Fees Are Included in My Monthly Mortgage Payment?

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 Make the Most of a Home Inspection Before You Buy

How to Make the Most of a Home Inspection Before You Buy

Once you’ve put an offer on a home, the excitement sets in and you can’t wait to close. But there are some important things that need to take place before that day, namely a home inspection. You cannot see all a home’s issues from a walk-through. You need a professional to dig deep by checking all the inner workings. In fact, a home inspection is typically required by your mortgage lender so that you do not end up with major repairs after the loan closes that might compromise your financial situation. Here’s how you can make the most of your home inspection:   ...

November 27th, 2019 | Mortgage Basics, Home Buying or Selling, Homeowner Tips, Real Estate Agent Tools, How to Make the Most of a Home Inspection Before You Buy

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