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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Benefits of Using a Utah Mortgage Broker

Shopping for a mortgage can be a frustrating ordeal, but you don’t have to do it alone. The one sure-fire way to reduce the amount of legwork needed to find a better deal for your mortgage is to hire the right Utah mortgage broker. A mortgage broker is a sort of matchmaker who wants to connect you to a lender who meets your specific needs. There are several reasons to hire a mortgage broker instead of going straight to the lender yourself. The following blog will offer you a little more insight.   Access to a Multitude of Loan Lenders When it comes to a broker, they have acce...

July 19th, 2019 | Saving Money, Mortgage Basics, Benefits of Using a Utah Mortgage Broker

Benefits to Mortgage Debt

In order to buy a house, most Americans, including Utahns, take on a mortgage loan. While debt is usually to be avoided if possible, when it comes to a mortgage there may actually be some financial benefits for borrowers.   Liquidity If you dump all your extra funds into paying off your mortgage, you may be in a tight spot if you face a financial emergency. Family deaths, divorce, and health traumas are just a few things that can quickly rack up enormous debts. If you do not have a sizable emergency save up and you have been sinking all disposable cash into your home, you may ...

June 5th, 2019 | Credit and Debt, Mortgage Basics, Benefits to Mortgage Debt

What is Mortgage Amortization?

If you have a fixed-rate home mortgage, you pay the exact same amount of principal and interest each month. But did you know that the amount of principal you pay toward the balance of your loan changes from month to month? This is called mortgage amortization and it is a method of distributing the interest and principal over the course of a loan so that it is completely paid off by the end of the loan term. Understanding how it works could help save you plenty of interest on your mortgage.   How does it work? When you agree to buy a house at a certain price, in reality, you will en...

May 8th, 2019 | Credit and Debt, Interest Rates, Mortgage Basics, What is Mortgage Amortization?

How to Calculate Your Debt-to-Income Ratio

When you are ready to apply for a mortgage loan, your mortgage broker will ask you for all sorts of financial information. One of the things lenders do with this data is to calculate your debt-to-income (DTI) ratio. A DTI ratio is one of the most basic methods lenders use to determine how much of a monthly mortgage payment you can afford. You can calculate this number before talking to a lender so that there will be no surprises about how much you might expect to borrow. First, total all your monthly liabilities – including the potential housing payment - and divide that number by you...

April 17th, 2019 | Mortgage Basics, Credit and Debt, How to Calculate Your Debt-to-Income Ratio

Home Appraisal FAQs

A home appraisal is an important part of the home-buying process. If you're ready for this step, you may have some questions about what happens.   What is a home appraisal? A home appraisal is a professional evaluation of the value of a property. It's typically conducted by a licensed, certified professional. The appraiser is an unbiased individual with the necessary knowledge and experience to determine the fair current value of a home.   Who pays for a home appraisal? A home appraisal that's conducted as part of the home buying process is typically paid fo...

March 19th, 2019 | Mortgage Basics, Home Appraisal FAQs

5 Things to Do After Your Mortgage Closes

After sitting down at the mortgage closing table to sign all the paperwork, you get the keys and can breathe a sigh of relief. But before you tuck all those mortgage papers away for good, there are at least five things you still need to do after closing to make sure everything is on track.   1. Figure Out the Date of the First Mortgage Payment Your mortgage broker or title company should have let you know this important fact before or at closing, but with so many papers and numbers being thrown at you, it might get missed. Your escrow account often requires enough money f...

March 13th, 2019 | Mortgage Basics, Homeowner Tips, 5 Things to Do After Your Mortgage Closes