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Mortgage Blog

Advanced Funding Home Mortgage Loans' weekly Utah mortgage blog is chock full of mortgage advice, tips, and the latest Utah mortgage and housing news. Whether you're considering a Utah refinance mortgage or the purchase of a new home in Salt Lake City or surrounding areas, we have the information and expertise to assist you in preparing for your homeowner journey. Our mission is to help you better understand how a mortgage in Salt Lake City  works, so that you can make decisions that will maximize your savings, qualify you for the amount you desire, and avoid costly missteps. And when the time comes to begin the loan process we will be here to assist you throughout the entire mortgage process.
 

Things You Shouldn’t Do Before Applying for a Mortgage in Utah

If you’re getting ready to buy a home, there are a lot of things you should do, such as getting pre-approved for a home loan. But there are also a few things you don’t want to do. Change your job. Now is not the right time to become self-employed, to quit your job or to even switch jobs. Utah mortgage brokers want to see job stability, which means you’re less likely to default on your loan. Co-sign on a loan. Even if you’re not the one who will be making the payments on a loan, if you’re a co-signer, you’re financially responsible for repayme...

April 30th, 2015 | Home Buying Tips, First-Time Homebuyers, Things You Shouldn’t Do Before Applying for a Mortgage in Utah

Inexpensive Ways to Get Your Home Ready to Sell in Utah

You want to sell your Utah home, but you don’t have a lot of money to invest in repairs and upgrades before it hits the market. You’re in luck! There’s a lot you can do to make your home more inviting to potential buyers that doesn’t cost a fortune. Here are some fairly inexpensive steps you can take before you list your home: Clean the carpets. Investing in a professional carpet cleaning can be a great move, especially if you have small children and pets. Stained carpets aren’t exactly aesthetically appealing, and carpets can harbor all kinds of odors. Make...

April 20th, 2015 | Home Renovation, Home Selling Tips, Inexpensive Ways to Get Your Home Ready to Sell in Utah

Distressed Properties: What’s Changed for Home Buyers

Interested in buying a distressed property in Salt Lake City? You’ll still find these types of homes on the market. But there are definitely fewer bank-owned properties and short sales available for sale today than there were a couple of years ago. Beyond a smaller supply of available properties, here’s what else has changed for home buyers: Discounts aren’t as deep. Foreclosures are selling for less of a discount than in the past – in general, between 12 percent and 16 percent off market prices compared with discounts of 20 percent or more in the past. That’s ...

April 16th, 2015 | Home Buying Tips, Distressed Properties, Distressed Properties: What’s Changed for Home Buyers

Appraisal Anxiety Have You Down? Here’s How to Cope

If you’re buying or selling a home in Utah, you may be worried about the appraisal. What should you do if the appraisal comes up short? Here are some options for both buyers and sellers: For Sellers: Walk away. If the appraised value comes in lower than what a buyer is willing to pay, that buyer may want you to lower your price. You can do that, or you can walk away and put the property back on the market with hopes that a new buyer, new lender and new appraiser could yield different results. There is a chance, of course, you’ll end up in the same situation. Order a new ap...

April 12th, 2015 | Appraisals, Appraisal Anxiety Have You Down? Here’s How to Cope

The Most Common Homebuying Mistakes

In the market for a new home? You’ll want to avoid these common mistakes made by first-time buyers – and even those who already have purchased a home or two before. Shopping before getting pre-approved. Without consulting with mortgage companies in Utah first, you aren’t going to know how much house you can afford. And if you find a home you want to buy, sellers in today’s market may disregard your offer if you aren’t pre-qualified by a Utah mortgage broker. Looking for homes on your own. Tap the experience and knowledge of a good Realtor. Esp...

April 8th, 2015 | Home Buying Tips, The Most Common Homebuying Mistakes

The Benefits of a 203(k) Home Renovation Loan

Have you heard about the FHA 203(k) home renovation loan? This innovative loan program is designed to make it much easier to purchase a home in Salt Lake City that needs a lot of repair work or updating. With a 203(k) loan, home buyers are able to take out one loan for the purchase and improvement of a property. As with the popular FHA home loan program, borrowers can make only a minimal downpayment. Another plus: With only one loan, there’s only one set of closing costs. And once the loan closes, the homeowner then has the funds to immediately begin repair or renovation work. ...

April 5th, 2015 | Home Renovation, FHA, The Benefits of a 203(k) Home Renovation Loan



Your Local Utah Mortgage Broker

As a Utah mortgage broker we work with several different mortgage lenders, enabling us to offer you a variety of mortgage programs at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more options to help you achieve your goals. Whether you're buying a new home or refinance your current home, Advanced Funding is here to help. Our loan professionals are available to help you during regular business hours or time that is more suitable to your needs. Call today for more information, 801-272-0600.

Utah VA LOAN ADVANTAGE

Veterans Affairs mortgages, better known as VA loans, make it easier for veterans to get financing to buy a home. Utah VA loans usually do not require a down payment and are available to military veterans and active military members. The Utah VA mortgage remains one of the few mortgage options for borrowers who don’t have the money for a down payment. VA loans are somewhat easier to qualify for than conventional mortgages. It offers a great benefit to those who are serving or have served our country.

Advanced Funding Home Mortgage Loans
6589 South 1300 East, Suite 200
Salt Lake City, UT 84121

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