801-272-0600
nathan@advancedfunding.com
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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Should I Pay Mortgage Points?

If you're buying a home or refinancing your Utah mortgage, you have probably heard about “mortgage points or discount points.” This form of pre-paid interest can save you thousands of dollars over the course of your loan but in many circumstances is not worth the upfront cost. How do you know whether to pay points or not? Here’s a quick guide to help you figure it out.   What are Mortgage Points? Mortgage points – also known as discount points - are essentially a way to pay some of the mortgage interest upfront on your home loan. One point is equal to 1%...

July 18th, 2018 | Interest Rates, Home Buying or Selling, Should I Pay Mortgage Points?

Discount and Origination Points Explained

Do you know the difference between discount points and origination points? These are two important terms any home buyer should understand. Each type of point is equal to one percent of your total loan amount. For example, on a $200,000 loan, one point would be equivalent to $2,000. Discount and origination points, however, do different things. Origination points are paid to either the mortgage lender or mortgage broker for their services. Some mortgage companies in Salt Lake City charge origination fees in the form of a point, while others just charge a set amount for originating a ...

April 4th, 2018 | Refinance, Interest Rates, Home Buying or Selling, Mortgage Basics, Discount and Origination Points Explained

What Drives Utah Mortgage Rates?

When you’re buying a home or refinancing, Utah mortgage rates can often seem pretty mysterious. They can move up and down each day —sometimes changing several times in just one day!  Here’s why: Mortgage rates are highly dependent on economic news. In many cases, good news for the economy is often bad news for interest rates. Know those reports that the government issues each month to gauge economic activity? Each of those can affect mortgage rates. One of the most influential is the employment data released monthly by the Bureau of Labor Statistics. Mortgage rat...

May 20th, 2015 | Interest Rates, Mortgage Basics, What Drives Utah Mortgage Rates?

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