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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: Mortgage Lingo 101

Mortgage Lingo 101

As a first-time home buyer, you will hear lots of words that you may not be familiar with. Just like every industry, the real estate market has its own lingo, and it can be confusing for newbies. Here is a list of the most common mortgage jargon to help you navigate the home loan process:   Adjustable Rate Mortgage (ARM) – loans that provide an extra-low interest rate for an initial period of 5,7, or 10 years, after which the rate is allowed to move up or down once a year based on market indexes.   Amortization – spreading the principal and interest into equal pay...

January 6th, 2021 | First-time Homebuyers, Mortgage Basics, Mortgage Lingo 101

Blog Image: Questions to Ask Your Utah Mortgage Broker

Questions to Ask Your Utah Mortgage Broker

Buying a home or refinancing usually involves taking out the biggest loan of your life. It's important to make sure you understand everything that goes into that mortgage and what will be required of you as a borrower. Here are the most essential questions to ask your Utah mortgag broker before you sign on the dotted line.   What types of mortgage loans are available? There are dozens of mortgage types out there: conventional or government-backed (FHA, VA, and USDA), fixed-rate or adjustable-rate, jumbo, reverse, etc. Ask your broker to explain your options and which one...

December 16th, 2020 | Mortgage Basics, First-time Homebuyers, Home Buying or Selling, Questions to Ask Your Utah Mortgage Broker

Blog Image: Why a Mortgage is Good Debt

Why a Mortgage is Good Debt

In today’s coronavirus-crisis economy, many Americans may be regretting taking on debt in the past or facing new debt to cover expenses during unemployment. And yet millions of consumers continue to apply for mortgages for home purchases, one of the largest debts most people will ever assume. The reason for this is that some debt is actually considered “good debt.” Here’s how to tell the difference between good and bad debt and why mortgage loans fall under that category.   Good Debt There are several crucial factors that determine good debt. First, financin...

September 2nd, 2020 | Credit and Debt, Mortgage Basics, Why a Mortgage is Good Debt

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

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