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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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?

Blog Image: How To Consolidate Debt with a Refinance Loan

How To Consolidate Debt with a Refinance Loan

Americans have a lot of debt. As of mid-2019, U.S. borrowers owed a total of $1.4 trillion in student loans and another $1.07 trillion in consumer credit card debt. And then, of course, there’s the $1.28 trillion in auto loan debt. Add in first and second mortgages, home equity loans, boat and RV loans, medical bills, and personal loans and it's clear that many Americans, are carrying a heavy debt burden. If you are a homeowner and fall into that category, you might consider consolidating your debts by refinancing your Utah mortgage.   What is Consolidating? Consolidating...

August 21st, 2019 | Homeowner Tips, Refinance, How To Consolidate Debt with a Refinance Loan

Blog Image: Should You Buy an Investment Property?

Should You Buy an Investment Property?

Real estate can be a very profitable source of investment. Property values generally rise over time, giving owners equity and rental income at the same time. Owning a Utah investment property is not without risks and challenges though. There are several factors to consider in deciding whether an investment property is right for you.   Pros Investment properties can provide many financial benefits. They can produce a steady, fixed stream of income for you and plenty of equity should you decide to sell down the road. In addition to increasing equity over time, rental properti...

August 14th, 2019 | Home Buying or Selling, Should You Buy an Investment Property?

Blog Image: Housing Affordability on the Rise

Housing Affordability on the Rise

As rates fall and incomes rise, homebuyers’ buying power has reached its highest level in 18 months, according to data from property data company Black Knight. Even though actual prices have climbed an average of $12,000 over the past eight months, sub-4% mortgage interest rates have increased housing affordability by 15% in that time. A buyer could now purchase a home for $45,000 more than last fall and still get the same mortgage payment.   Get More Information Inquire Now

August 12th, 2019 | Mortgage News, Housing Affordability on the Rise

Blog Image: How to Avoid Wire Fraud at Mortgage Closing

How to Avoid Wire Fraud at Mortgage Closing

You have found the perfect property and made it all the way through the home buying process. The only thing left to do is wire the down payment and closing costs to your mortgage lender. Right before you are supposed to wire the money, you get an email from your title company or mortgage broker giving you different instructions about where to send your funds. Since the email is clearly from your them, you follow the instructions. You expect to be handed the keys at the end of the day, only to discover that you have been scammed and your entire down payment has vanished into the hands of an inv...

August 7th, 2019 | Mortgage Basics, Mortgage News, How to Avoid Wire Fraud at Mortgage Closing

Blog Image: Fed Cuts Rate for the First Time in 11 Years

Fed Cuts Rate for the First Time in 11 Years

The Federal Reserve decided to lower its target interest rate to the range of 2% to 2.25%, down from a range of 2.25% to 2.50%. It is the first rate cut since December 2008, at the beginning of the Great Recession. The move was spurred by concerns about a slowing global economy. The Fed’s rate is tied to most other consumer credit interest rates and will likely put downward pressure on long-term mortgage rates.

August 5th, 2019 | Mortgage News, Fed Cuts Rate for the First Time in 11 Years