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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

Blog

 

Euro Pain, US Bonds Gain

"It's a small world after all" If inflation moves lower or is expected to move lower - rates must go lower as well. That's the situation right now. The financial markets and interest rates also follow inflation on a global scale. Why is this important to homeowners? If disinflation or the rate of inflation moderates in places like Europe, interest rates in those countries move lower and tend to drag US interest rates lower as well. This past week we watched home loan rates revisit one-year lows upon news that the European Central Bank or ECB downgraded their ...

March 8th, 2019 | Mortgage News, Euro Pain, US Bonds Gain

How Does My Credit Score Affect My Mortgage Rate?

How much you will pay for a mortgage loan and even whether you can qualify for a mortgage will have a lot to do with your credit score. Higher credit scores will help you get the best terms possible while lower scores could keep you from your dream of homeownership. Lower scores can also impact your mortgage interest rate.   What Makes Up a Credit Score? Most lenders use FICO scores to determine creditworthiness. These are three-digit numbers put together using data from the Fair Isaac Co. that are supposed to determine the likelihood of you keeping up with your financial obligatio...

March 6th, 2019 | Interest Rates, Credit and Debt, How Does My Credit Score Affect My Mortgage Rate?

New Home Sales Rise in December

The Census Bureau reports that New Home Sales rose 3.7% in December to an annual rate of 621,000 units, a seven-month high and above the 572,000 expected. Sales were down 2.4% from December 2017 to December 2018 while sales for November were revised lower to 599,000 from 657,000. The Northeast saw a 44.8% gain in New Home Sales, a 5% increase in the South, up 1.4% in the West and down 15.3% in the Midwest. The median sales price fell to $318,600 from $343,300 in December 2017.   Get a Lower Interest Rate Get Quote Vantage Production, LLC is the copyright owner or licensee of the...

March 5th, 2019 | Mortgage News, New Home Sales Rise in December

What's Included in My Monthly Mortgage Payment?

When you get a mortgage to buy a home it’s important to understand the breakdown of your monthly mortgage payment. This will help you keep track of your finances, and to help you figure out your timeline of when you should be able to pay off your Utah home loan.   The Different Costs Of course, you pay your mortgage each month, but have you ever taken a deep dive into what your mortgage payment actually includes? There’s a handy acronym to help you remember what’s all incorporated in your monthly mortgage payment—PITI. Let’s take a look.   Pri...

March 4th, 2019 | Home Buying or Selling, Refinance, Mortgage Basics, What's Included in My Monthly Mortgage Payment?

U.S. Gross Domestic Product Not So Gross

This past week, the Bureau of Economic Analysis (BEA) reported the U.S. economy, as defined by Gross Domestic Product (GDP), grew at a 2.6% rate in the fourth quarter of 2018. Economists and the markets were expecting 2.0% to 2.3%, so this was a nice upside surprise.  This left GDP for all of 2018 at 2.9%. Consumer spending, which makes up nearly two-thirds of GDP, expanded by a solid 2.8% in the fourth quarter - yet slower than the previous quarter.  Another solid number within the report was business investment which grew at a swift 6.2% pace. This Q4 GDP reading was the f...

March 1st, 2019 | Mortgage News, U.S. Gross Domestic Product Not So Gross

How long after bankruptcy should I wait before applying for a mortgage?

Going through a bankruptcy, either personally or with your business, can affect your ability to qualify for a mortgage. Your credit score may drop, and you may need to wait before applying for a home loan. It all depends on the size of your down payment and how high of an interest rate you can tolerate. Here’s what you need to know if you have been through a bankruptcy:   Types of Bankruptcy There are three common types of bankruptcy: Chapter 7, Chapter 11 and Chapter 13. Chapter 7 and 13 are for personal debts while Chapter 11 is for business debts. With Chapter 7, most of y...

February 27th, 2019 | Credit and Debt, Home Buying or Selling, How long after bankruptcy should I wait before applying for a mortgage?