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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: September Mortgage Rates Show Market Volatility

September Mortgage Rates Show Market Volatility

Average interest rates on long-term U.S. mortgage loans fell dramatically last week, making September the most volatile month since March, according to Freddie Mac. The average rate on a 30-year fixed-rate mortgage dropped to 3.64% with 0.6 point for the week ended September 26, down 9 basis points from the previous week and down much more from 4.72% the year before. As investor moods have been yanked around by global markets, September rates have had big swings up and down with weekly rate movement averaging 11 basis points.

October 2nd, 2019 | Mortgage News, September Mortgage Rates Show Market Volatility

Blog Image: Is a Bigger Down Payment Always Better?

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?

Blog Image: Can I Get a Mortgage Without a Credit Score?

Can I Get a Mortgage Without a Credit Score?

You need a good credit score to get the best rates on mortgage loans. Less-than-perfect scores will mean higher interest rates and subprime credit scores will make borrowing money very expensive. But what if you have no credit score at all? Is it possible to get a mortgage without a credit score?   The Credit Score-free Population According to the Consumer Financial Protection Bureau (CFPB), there are approximately 26 million American adults without a credit history and another 19 million whose credit histories are too outdated or limited to be scored with the traditional methods b...

September 18th, 2019 | FHA Loans, Credit and Debt, First-time Homebuyers, Loan Programs, Can I Get a Mortgage Without a Credit Score?

Blog Image: 9/11 A Day We Will Never Forget

9/11 A Day We Will Never Forget

"As we commemorate the ... anniversary of the 9/11 terrorist attacks in New York, Shanksville, Pennsylvania, and at the Pentagon, it is a time for remembrance, resolve, and renewal. We reverently recall those who were most directly affected by this tragedy—those who died, were injured or lost loved ones. In a special way, we recall the selfless first responders—firefighters, police, chaplains, emergency workers, and other brave persons—who risked, and many times lost, their lives in their courageous efforts to save others. We also remember how our na...

September 11th, 2019 | Lifestyle, Family, Health and Wellness, 9/11 A Day We Will Never Forget

Blog Image: How Does the Stock Market Affect Mortgage Rates?

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?

Blog Image: What is the CHOICERenovation Mortgage?

What is the CHOICERenovation Mortgage?

Freddie Mac has announced the creation of a new home renovation loan program called the CHOICERenovation Mortgage.  This product is replacing Freddie Mac’s previous Renovation Mortgage and is very similar to Fannie Mae’s HomeStyle Renovation and FHA’s 203k loan. It offers many benefits to borrowers looking to make updates to their properties.   How Does It Work? The CHOICERenovation Mortgage breaks from its predecessor by eliminating the need for Interim Construction Finance and allows borrowers to take out one loan at closing to pay for both the home pu...

August 28th, 2019 | Loan Programs, Home Improvement, What is the CHOICERenovation Mortgage?