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Mortgage BLOG

Advanced Funding Home Mortgage Loans' mortgage blog is chock full of mortgage loan advice, tips, and the latest mortgage and housing news. Whether you're considering a Utah refinance or thinking of buying a home. We have the experience and expertise to assist you as you prepare for your homeowner journey. Our mission is to help you understand how the mortgage loan process works so that you can make decisions that will maximize your savings, qualify you for the amount you desire, and avoid costly missteps.

 

VA Loans - Residual Income Requirements

For eligible active-duty service members, veterans and surviving spouses, the VA loan is a really good deal if you’re looking to buy a home in Utah. Its benefits include a 0% down payment and a funding fee that can be paid at closing or rolled into the loan instead of mortgage insurance. You may be familiar with the fact that lenders take a look at your monthly debt payments in order to help determine how much house you can afford. However, VA loans also take into account the concept of residual income. Before we get to that, let’s touch on the basics.   What&...

December 1st, 2018 | VA Loans, VA Loans - Residual Income Requirements

Fed Chair Powell, a Prince to the Markets

"This is what it sounds like when doves cry"... Prince We heard "doves cry" this week when Fed Chairman Jerome Powell spoke in NYC on Wednesday. Doves are people who offer peaceful polices, so upon Mr. Powell's soothing speech both Stocks and Bonds moved nicely higher, with home loan rates hitting their best levels in nearly two months. Some of Mr. Powell's market-comforting words included: We know that moving too fast (hiking rates) will risk expansion It may take a year or more to fully realize the effects of hikes The Fed doesn't see "d...

November 30th, 2018 | Mortgage News, Fed Chair Powell, a Prince to the Markets

What Are Seller Concessions?

The dance between home buyer and seller is a tricky one. Although it might seem like a match made in heaven – one person wants to buy a house, the other has a house to sell – there are a lot of factors that go into whether a sale will be successful or not. One such factor is the seller concession. If you’re looking for a home, seller concessions can be a way to lighten the load of all the loan costs you’ll have to deal with as a buyer. However, approach with caution, as not all sellers are amenable to concessions, and asking for them could sour your deal....

November 29th, 2018 | Home Buying Tips, What Are Seller Concessions?

4 Documents You Need for Mortgage Pre-approval

Getting a mortgage pre-approval is a smart step before you go out looking for a home. A pre-approval letter shows sellers that you have already proven to a mortgage company that you have the income and down payment to qualify for a mortgage loan. This allows sellers to take you seriously, especially in a hot seller’s market. Pre-approvals can be quick and painless if you have the right documents lined up. While each mortgage lender may require slightly different paperwork, there are at least four documents that almost all mortgage brokers will need.   Income and Employmen...

November 28th, 2018 | Purchasing a Home, Home Buying Tips, First-time Homebuyers, 4 Documents You Need for Mortgage Pre-approval

FHFA Announces Maximum Conforming Loan Limits for 2019

Fannie Mae and Freddie Mac Baseline Limit Will Increase to $484,350 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 2019.  In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.  Baseline limit The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the ave...

November 27th, 2018 | Conventional Loans, Mortgage News, FHFA Announces Maximum Conforming Loan Limits for 2019

Home Price Gains Solid in September 2018

The September Case-Shiller 20-City Index rose 5.1 percent from September 2017, just below the 5.3 percent expected and down from 5.5 percent in August. Month over month was unchanged. The slower pace of gains is to be expected and with faster-rising wages, it represents a healthier market. "Home prices plus data on house sales and construction confirm the slowdown in housing with one factor contributing to the weaker housing market is the recent increase in mortgage rates," says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices.

November 27th, 2018 | Mortgage News, Home Price Gains Solid in September 2018

Advanced Funding Home Mortgage Loans



Your Local Mortgage Company

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

Experience Matters

As one of the most trusted and respected mortgage companies in Utah, Advanced Funding Home Mortgage Loans offers a variety of purchase mortgage and refinance products. Our licensed mortgage brokers are both knowledgeable and experienced to ensure you a pleasant home loan experience at the best interest rates available. We combine the use of technology, impeccable service, a dynamic management team, along with a well-trained, and experienced staff to produce results, such as great mortgage rates, low fees, and most importantly, a fast and pleasant loan experience.

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

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