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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com



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?

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?

Tips to Avoid Identity Theft

Your credit score is an important part of getting a mortgage, your Utah mortgage will want to see your history of using and repaying credit to assess your viability as a borrower beforehand. Some extremely unfortunate souls have run into a worrisome issue in recent years, however: They’ve gone to complete a mortgage deal, only to find that their credit score was torpedoed by identity theft. Identity theft is on the rise, with hackers looking for your personal information and using it to empty your accounts and impact your credit profile. At Advanced Funding Home Mortgage Loans, we'...

January 28th, 2019 | Credit and Debt, Tips to Avoid Identity Theft

How Do Inquiries Affect My Credit Score?

You have probably been cautioned that anytime your credit is checked your credit score is negatively impacted. While this issue is more complicated than it seems, there is some truth to this advice. Your credit score is affected in part by the number of inquiries made into your credit history, but there are different categories of inquiries and some count while others do not. The credit bureaus that collect and score your credit call these two types hard and soft inquiries.   Soft Credit Inquiries Soft credit inquiries are when you personally check your credit score, or when a busi...

December 30th, 2018 | Credit and Debt, How Do Inquiries Affect My Credit Score?

When Should I Check My Credit Report?

Your credit report is a very important document. Your credit score will be used in all sorts of weighty financial purchases. Checking your credit periodically is essential to maintaining a healthy score and being able to qualify for big loans. How often is periodical? Are there other times when it is important to check your report? You may have heard that you can pull your own credit report for free once a year from all three of the major credit reporting bureaus. These are Experian, Equifax, and TransUnion. Each collects data on your credit individually which means each agency ma...

December 29th, 2018 | Credit and Debt, When Should I Check My Credit Report?

Understanding Your Credit Score

Your credit score can impact you in a number of different ways. It will affect the interest rate you pay on your mortgage, your insurance premiums, as well as the cost of consumer loans. Having a clear understanding of credit scores and knowing how to achieve the highest rating possible can help save you tens of thousands of dollars in the long run.   A credit score is a number that helps lenders determine how likely you are to make your proposed monthly payments on time.   A FICO score on a mortgage credit report will range from 300-850, and is made up of the following: &...

October 30th, 2018 | Mortgage Basics, Credit and Debt, Understanding Your Credit Score