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.
Mortgage Credit Availability Jumped to Highest Level in 10 Years
Mortgage lenders loosened their mortgage credit standards in October, according to data from the Mortgage Bankers Association. The MBA’s Mortgage Credit Availability Index rose to 186.7, up 2.5% from 182.1 in September and 181 in October 2017. That index reading indicates that there is now more mortgage credit available than at any time since the housing market crashed back in 2008. Lenders appear to be making credit standards slightly more attainable in order to accommodate increased demand among first-time home buyers in Utah.
November 7th, 2018 | Mortgage News, Mortgage Credit Availability Jumped to Highest Level in 10 Years
ALERT: Wire Fraud at Closing
The Federal Trade Commission (FTC) and the National Association of REALTORS® have announced concerns over closing cost scams, including scams in Utah. Here's how the scam works: Hackers break into a consumer's or real estate professional's email account to search for upcoming real estate transactions and closing dates. Then, hackers pose as the agent or title officer and email the homebuyer with a last-minute change to the wiring instructions. Should buyers wire money to the account, they will lose the money and likely lose the home they've been waiting for due to a lack...
November 7th, 2018 | Home Buying Tips, Real Estate Agent Tools, ALERT: Wire Fraud at Closing
How to Time Block as a Real Estate Professional
As a Utah real estate professional, you know that your greatest resource is your time. And time, if left unchecked, has a tendency to slip away under the stress of the day-to-day grind. Between texts, emails, phone calls, and meetings, it’s easy to get lost in unproductive business. When you’re in the business of real estate, you know that every second counts. Make the most of what you do by blocking out your time so that it works for you. Don’t devote your day to distractions. Spend a few moments each week preparing what’s most important for your goals, and then tak...
November 6th, 2018 | Real Estate Agent Tools, How to Time Block as a Real Estate Professional
Home Price Gains Remained Solid in September 2018
CoreLogic reports that home prices nationwide, including distressed sales, rose 5.6 percent year over year in September 2018 compared to September 2017. The 5.6 percent is down from June's 7.1 percent year over year increase as home price gains moderate to more historical levels. Month over month saw a 0.4 percent rise. From September 2018 to September 2019, CoreLogic forecasts a 4.7 percent gain ... still a great story with rates at historically low levels.
November 6th, 2018 | Mortgage News, Home Price Gains Remained Solid in September 2018
Workin' 9 to 5, What a Way to Make a Livin'
"Workin' 9 to 5, what a way to make a livin'"- 9 to 5, Dolly Parton This past week showed more and more people working 9 to 5 and home loan rates didn't like it. First, the ADP Report on Wednesday showed 224,000 private jobs created, well above the 184,000 expected. Then on Friday, the Bureau of Labor Statistics (BLS) Jobs Report showed 250,000 job creations in October, well above expectations. This sent Utah mortgage rates up. Within that report, Hourly Earnings (wages) rose 3.10% year over year, the highest rate since April 2009. The pickup in wages is infla...
November 2nd, 2018 | Mortgage News, Workin' 9 to 5, What a Way to Make a Livin'
Using Gift Money for Your Down Payment: What You Need to Know
You're planning on buying a home in the new future when your lease is up. You don't have much saved for a down payment due to recently getting married. So you're considering asking a family member for a gift for your down payment. You might think that you can just use whatever financial gifts your friends and family give you for a down payment, but using gift money is not as cut and dry as you might think. Whether you have $20 or $20,000, the source of the funds in your bank account will matter just as much as how much money you actually have. To understand why the sou...
November 2nd, 2018 | First-time Homebuyers, Home Buying Tips, Using Gift Money for Your Down Payment: What You Need to Know