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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: How to Cancel FHA Mortgage Insurance

How to Cancel FHA Mortgage Insurance

Mortgage loans made by the Federal Housing Administration can be a huge help to homebuyers without a large down payment. FHA loans require down payments of as little as 3.5%. Traditional loans often require 20%. Yet FHA mortgages come with some strings attached, namely FHA mortgage insurance. Almost all mortgage loans made with less than a 20% down payment require some form of mortgage insurance. This insurance protects the lender against losses from the borrower defaulting in the first several years of the loan. It is typically paid monthly and is tacked onto the mortgage payment. With con...

December 4th, 2019 | FHA Loans, Refinance, Homeowner Tips, How to Cancel FHA Mortgage Insurance

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

Blog Image: FHFA Announces Maximum Conforming Loan Limits for 2020

FHFA Announces Maximum Conforming Loan Limits for 2020

Fannie Mae and Freddie Mac Conventional Loan Limit Will Increase to $510,400 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020. In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an increase from $484,350 in 2019.   Baseline Limit The Housing and Economic Recovery Act (HERA) requires that the baseline conventional loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the...

November 26th, 2019 | Conventional Loans, Mortgage News, Loan Programs, FHFA Announces Maximum Conforming Loan Limits for 2020

Blog Image: Happy Thanksgiving

Happy Thanksgiving

We would like to thank all of our customers and wish them a Happy Thanksgiving. We are so grateful for your business and most importantly your friendship. Please remember if you are traveling, to be safe.

November 21st, 2019 | Lifestyle, Mortgage News, Happy Thanksgiving

Blog Image: 4 Common Mortgage Refinancing Myths

4 Common Mortgage Refinancing Myths

Refinancing is a word thrown around in the mortgage world and can be a very useful tool for homeowners. But there are plenty of misconceptions about what a mortgage refinance is and what it entails. By understanding the four most common myths about refinancing, you can learn the truth about how a refinance loan could benefit your situation.   Myth #1: You Should Only Refinance If You Can Get A Lower Interest Rate Many homeowners think that refinance loans only make sense if current interest rates are lower than their mortgage rate. There are other reasons to refinance though. Borro...

November 13th, 2019 | Refinance, Loan Programs, 4 Common Mortgage Refinancing Myths

Blog Image: 6 Homebuying Mistakes to Avoid

6 Homebuying Mistakes to Avoid

Forgoing an Agent Some homebuyers think they can navigate the buying waters alone, but as complex as the real estate market is today, that strategy is risky. One of your first steps should be to find a trusted real estate professional who will represent your interests. An agent’s experience can give you valuable insights into things like which neighborhoods are good and bad, or how to craft an attractive offer for sellers. Even if you are buying a new home from a builder, a real estate agent could help you make sure you are getting the best deal and terms.   Overlooking ...

November 6th, 2019 | First-time Homebuyers, Home Buying or Selling, Mortgage Basics, 6 Homebuying Mistakes to Avoid