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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Mortgage Amortization: Understanding Your Mortgage Payment

Mortgage amortization is intimidating-sounding (the word “amortization” literally means “to kill off”) that has to do with paying off your home loan. While it can be kind of tricky to understand exactly what amortization is and what it means for your monthly mortgage payments, it’s worth figuring out. Knowing what your amortization schedule looks like can help you decide if it would be more cost-efficient for you to be making additional payments on your mortgage.   What Is Amortization? Mortgage amortization refers to a lo...

October 5th, 2018 | Loan Programs, Mortgage Basics, Mortgage Amortization: Understanding Your Mortgage Payment

Conforming vs Non-Conforming Mortgage Loans: What’s the Difference?

There’s a lot of unfamiliar, and often confusing, vocabulary in the mortgage process, and it’s important to know your terminology. If you’re looking to buy or refinance a home, it’s important to understand mortgage terms that may be used. What’s the difference between a conforming and a non-conforming loan? What are the benefits of each?   What Is a Conforming Loan? A conforming loan is a loan that meets the requirements so that it can be sold to Fannie Mae, Freddie Mac, the Federal Housing Administration (FHA), USDA (Rural Housing Development) or D...

October 1st, 2018 | Conventional Loans, Loan Programs, Conforming vs Non-Conforming Mortgage Loans: What’s the Difference?

Should I Make a Bi-Weekly Mortgage Payment?

Many homeowners are eager to pay off or pay down their mortgages in order to save themselves money in interest charges. Many lenders have even anticipated this situation by offering buyers a bi-weekly payment program.   What is a Bi-Weekly Mortgage Payment? Most mortgages are paid once a month, making 12 payments every year. With a bi-weekly payment schedule, the monthly mortgage amount is split into two and paid every two weeks instead. Since there are 52 weeks in a year, this results in 26 half payments annually, totaling 13 whole payments. This means borrowers basically pay...

September 19th, 2018 | Refinance, Home Buying or Selling, Loan Programs, Saving Money, Should I Make a Bi-Weekly Mortgage Payment?

Benefits of No Cost Mortgages

At Advanced Funding Home Mortgage Loans, it’s our mission to get you the best mortgage option for your situation. Our mortgage brokers are trained to spot the details that might make a certain type of mortgage or refinance more prudent for you and your family, and to guide you through every step of the loan process. One of the mortgage types that is often a good fit is a no-cost mortgage. This option is where closing cost and fees are paid by the mortgage company by rolling them into your interest rate and monthly payments, allowing you to get out the door for much less...

September 2nd, 2018 | Refinance, Home Buying or Selling, Saving Money, Loan Programs, Benefits of No Cost Mortgages

Is a Fixed Rate Mortgage or Adjustable Rate Mortgage Better for Me?

When you are in the market for a Utah mortgage, one of the many decisions you’ll have to make is whether to apply for a fixed-rate loan or an adjustable rate mortgage (ARM). Both can be beneficial, depending on your situation. Learning the difference between them can ensure you get the right product for your financial goals.   Fixed-Rate Mortgages Fixed-rate mortgages (FRMs) are just as their name suggests - a loan with a fixed mortgage rate, an interest rate that never changes over the course of the mortgage. The obvious benefit of this type of loan is that your monthly paym...

August 15th, 2018 | Refinance, Loan Programs, Home Buying or Selling, Interest Rates, Is a Fixed Rate Mortgage or Adjustable Rate Mortgage Better for Me?

Top 4 Reasons You Should Get a VA Loan

If you are a military veteran or are currently serving active-duty, there is an incredible mortgage loan available to you through the Department of Veterans Affairs – the VA loan. VA mortgages are made through regular lenders but backed by the Department of Veteran Affairs, reducing the risk to the lenders themselves. Here are the top 4 reasons you should look into buying a home with a VA loan:   Lower Interest Rates VA mortgage loans were designed to give veterans a leg-up in the home buying process as a way to thank them for their service. One of the loan perks is that the ...

August 1st, 2018 | VA Loans, Loan Programs, Top 4 Reasons You Should Get a VA Loan