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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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What are Closing Costs?

When you sit down to sign the papers to buy a home, you will most likely be required to pay closing costs. Mortgage closing costs are the fees associated with the home buying and lending process.   What is included in my closing costs? The types of closing cost fees can vary based on region, property type, and loan type. There are a few basics that most everyone has to pay. These include things like an appraisal fee, for sending an appraiser out to determine the fair market value of the property. Closing or escrow fees are also common, which compensate the title company, escrow fir...

August 22nd, 2018 | Mortgage Basics, What are Closing Costs?

What's the Difference Between FHA Loans and Conventional Mortgages?

If you are just getting started in the home buying process, you have probably come across several different types of Utah mortgage loans as you have researched your options. Two of the most common home loan types are conventional and FHA mortgages. What are the differences between them and when does each make the most sense?   FHA Loans FHA or Federal Housing Administration, loans are government-insurance programs that make it easier for Americans without great credit or large down payments to become homeowners. When a borrower is approved for an FHA loan with an approved...

July 11th, 2018 | FHA Loans, Conventional Loans, Loan Programs, Mortgage Basics, What's the Difference Between FHA Loans and Conventional Mortgages?

4 Things Every Borrower Needs to Know About Mortgage Brokers in Utah

Buying a home in Utah, whether for the first time or the last, is an exciting event. Yet before you even take a look at a single home for sale, it is a smart idea to have your mortgage financing lined up. While it is possible to get a home loan directly with your local credit union or bank, the most common mortgage-makers are mortgage brokers. If you are ready to apply for a home loan, here are four things you need to know about how to find a mortgage broker in Utah before starting the process.   A mortgage broker is a middleman Utah mortgage brokers act as go-betweens for you...

June 20th, 2018 | Saving Money, Mortgage Basics, 4 Things Every Borrower Needs to Know About Mortgage Brokers in Utah

Understanding Your Loan Estimate

Buying or refinancing a home represents the largest financial transaction many of us will ever make. Therefore, it makes sense that you’d want to understand the details of the loan you’re getting. As part of your mortgage transaction, the Consumer Financial Protection Bureau (CFPB) requires that you receive a Loan Estimate at the beginning of your loan application process. Let’s look at the details of the Loan Estimate and discuss what you need to look for when applying for a new home loan.   Purpose and Timing of Your Loan Estimate Your Loan Estimate s...

June 6th, 2018 | Home Buying or Selling, Refinance, Mortgage Basics, Understanding Your Loan Estimate

Does Being Married Matter When You're Getting a Utah Mortgage

This post was originally published on Neighborhoods.com SARA WATSON - National Homeownership There’s an old-school order to things. Couple meets. Couple marries. Couple buys a house. Couple has kids. But this is 2018. As millennials are increasingly waiting to get married and have children, they may prefer to put a mortgage on it instead of a ring. In fact, a recent marriage and homebuying study from Coldwell Banker showed that one in four couples between ages 18-34 purchased a home together before they got married. When it comes to mortgage loans, howev...

April 20th, 2018 | Home Buying or Selling, Refinance, Mortgage Basics, Lifestyle, Family, Does Being Married Matter When You're Getting a Utah Mortgage

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