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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Is a Bigger Down Payment Always Better?

In the homebuying process, if you find yourself in the enviable position of having more cash than needed for a minimum down payment, it may be difficult to know just how much you should put down. A larger down payment can bring plenty of benefits, but is it always best to contribute the biggest down payment possible? First, remember that every loan program has its own down payment requirements. FHA loans, for example, require a minimum of 3.5% while jumbo loans will require at least 5%. To get a conventional loan without PMI you’ll need 20%. USDA and VA, by contrast, do not require an...

September 25th, 2019 | Home Buying or Selling, Mortgage Basics, Is a Bigger Down Payment Always Better?

How Does the Stock Market Affect Mortgage Rates?

When there are dramatic swings in the stock market, you may wonder how mortgage interest rates will be affected. What is the relationship between mortgage rates and stock prices? Do they move together or in opposite directions?   Stocks and Mortgage Rates Both Mimic the Economy While the stock market is not directly related to mortgage rates, both are based on the basic movement of the economy.  When things are going swimmingly, both stock prices and mortgage rates tend to rise. They both generally fall when the economy is faltering. When investors are concerned about national...

September 4th, 2019 | Interest Rates, Mortgage Basics, How Does the Stock Market Affect Mortgage Rates?

How to Avoid Wire Fraud at Mortgage Closing

You have found the perfect property and made it all the way through the home buying process. The only thing left to do is wire the down payment and closing costs to your mortgage lender. Right before you are supposed to wire the money, you get an email from your title company or mortgage broker giving you different instructions about where to send your funds. Since the email is clearly from your them, you follow the instructions. You expect to be handed the keys at the end of the day, only to discover that you have been scammed and your entire down payment has vanished into the hands of an inv...

August 7th, 2019 | Mortgage Basics, Mortgage News, How to Avoid Wire Fraud at Mortgage Closing

What is a Mortgage Servicer?

You recently closed on your mortgage loan and have been making your payments to your lender. Then one day, you get a letter in the mail informing you that your loan has been sold and you have a new mortgage servicer taking care of your loan. What does this mean and how does it affect your mortgage? Here’s what you need to know about mortgage servicers: It is very common for your lender to sell your loan soon after originating it. Many lenders and brokers do not have enough reserves to keep mortgage loans on their books. Instead they sell them to investors or government-backed enterpri...

July 24th, 2019 | Mortgage Basics, What is a Mortgage Servicer?

Benefits of Using a Utah Mortgage Broker

Shopping for a mortgage can be a frustrating ordeal, but you don’t have to do it alone. The one sure-fire way to reduce the amount of legwork needed to find a better deal for your mortgage is to hire the right Utah mortgage broker. A mortgage broker is a sort of matchmaker who wants to connect you to a lender who meets your specific needs. There are several reasons to hire a mortgage broker instead of going straight to the lender yourself. The following blog will offer you a little more insight.   Access to a Multitude of Loan Lenders When it comes to a broker, they have acce...

July 19th, 2019 | Saving Money, Mortgage Basics, Benefits of Using a Utah Mortgage Broker

Benefits to Mortgage Debt

In order to buy a house, most Americans, including Utahns, take on a mortgage loan. While debt is usually to be avoided if possible, when it comes to a mortgage there may actually be some financial benefits for borrowers.   Liquidity If you dump all your extra funds into paying off your mortgage, you may be in a tight spot if you face a financial emergency. Family deaths, divorce, and health traumas are just a few things that can quickly rack up enormous debts. If you do not have a sizable emergency save up and you have been sinking all disposable cash into your home, you may ...

June 5th, 2019 | Credit and Debt, Mortgage Basics, Benefits to Mortgage Debt

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