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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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Blog Image: 3 Things Lenders Don’t Want to See on Your Bank Statements

3 Things Lenders Don’t Want to See on Your Bank Statements

When you take out a mortgage loan, your lender puts a lot of trust in you to repay the loan. Lenders can do this because they do thorough financial background checks on borrowers before agreeing to lend money. Your interest rate will be based on how credit-worthy you are based on those checks. Examining bank statements is one of the ways lenders check for eligibility.  If you want to have better odds of being approved for a mortgage, before you apply, make sure that your bank accounts do not include these three things in the last two months of statements:   1. Non-Sufficient Fund...

January 1st, 2020 | Home Buying or Selling, Mortgage Basics, 3 Things Lenders Don’t Want to See on Your Bank Statements

Blog Image: What Fees Are Included in My Monthly Mortgage Payment?

What Fees Are Included in My Monthly Mortgage Payment?

You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you expected. What are all the fees in your monthly mortgage bill?   Mortgage Principal Your mortgage principal is the base amount of money you needed to borrow to buy a home. For example, if you are buying a $200,000 home and you put down 20%, your principal is $160,000. Almost all home loans are amortized, meaning they are structured so that the amount of principal you repay each month starts out small and increases over time....

December 18th, 2019 | Home Buying or Selling, Mortgage Basics, What Fees Are Included in My Monthly Mortgage Payment?

Blog Image: 6 Tips to Get a Rock-Bottom Home Loan Payment

6 Tips to Get a Rock-Bottom Home Loan Payment

Buying a home can be an overwhelming process, especially if it is your first time.  It can be easy to get swept along in the process without stopping to make sure you are getting the best deal on your mortgage payment. There are at least six ways to ensure that at the end of the homebuying adventure you end up with the absolute possible lowest home loan payment.   Negotiate for the Lowest Interest Rate Once you have been approved for a mortgage, you will be offered a mortgage interest rate by your lender. That rate can sometimes be negotiated. Your lender may suggest ways yo...

December 11th, 2019 | Home Buying or Selling, Refinance, Mortgage Basics, Homeowner Tips, Saving Money, 6 Tips to Get a Rock-Bottom Home Loan Payment

Blog Image: How to Make the Most of a Home Inspection Before You Buy

How to Make the Most of a Home Inspection Before You Buy

Once you’ve put an offer on a home, the excitement sets in and you can’t wait to close. But there are some important things that need to take place before that day, namely a home inspection. You cannot see all a home’s issues from a walk-through. You need a professional to dig deep by checking all the inner workings. In fact, a home inspection is typically required by your mortgage lender so that you do not end up with major repairs after the loan closes that might compromise your financial situation. Here’s how you can make the most of your home inspection:   ...

November 27th, 2019 | Mortgage Basics, Home Buying or Selling, Homeowner Tips, Real Estate Agent Tools, How to Make the Most of a Home Inspection Before You Buy

Blog Image: 6 Homebuying Mistakes to Avoid

6 Homebuying Mistakes to Avoid

Forgoing an Agent Some homebuyers think they can navigate the buying waters alone, but as complex as the real estate market is today, that strategy is risky. One of your first steps should be to find a trusted real estate professional who will represent your interests. An agent’s experience can give you valuable insights into things like which neighborhoods are good and bad, or how to craft an attractive offer for sellers. Even if you are buying a new home from a builder, a real estate agent could help you make sure you are getting the best deal and terms.   Overlooking ...

November 6th, 2019 | First-time Homebuyers, Home Buying or Selling, Mortgage Basics, 6 Homebuying Mistakes to Avoid

Blog Image: Is a Bigger Down Payment Always Better?

Is a Bigger Down Payment Always Better?

In the homebuying process, if you find yourself in the enviable position of having more cash than needed for a minimum down payment, it may be difficult to know just how much you should put down. A larger down payment can bring plenty of benefits, but is it always best to contribute the biggest down payment possible? First, remember that every loan program has its own down payment requirements. FHA loans, for example, require a minimum of 3.5% while jumbo loans will require at least 5%. To get a conventional loan without PMI you’ll need 20%. USDA and VA, by contrast, do not require an...

September 25th, 2019 | Home Buying or Selling, Mortgage Basics, Is a Bigger Down Payment Always Better?