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Nathan Pierce

Loan Officer

NMLS ID 12920

801-272-0600 nathan@advancedfunding.com

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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

Title Insurance: A Must-Have for Home Buyers

If you are buying a Utah home, you are also entering the world of title insurance. That’s because buyers of a home are, in a sense, actually buyers of that home’s title — the paperwork that proves that the existing owners do in fact own the property, and have the clear right to sell it. According to experts, nearly one third of all title searches turns up a problem with the property’s title — a problem that has to be dealt with and resolved before any home sale can transaction can be completed. That’s where title insurance comes in. To establish a sell...

September 12th, 2017 | Mortgage Basics, Title Insurance: A Must-Have for Home Buyers

9 Mortgage Terms You Should Know

It’s like a different language, APR, Fannie Mae, FHA, Freddie Mac, CFPB, PMI, HELOC—you can get lost in the terms of the lending industry. Don’t worry. Your Utah mortgage broker can help you understand the ones relevant to your situation. But it’s a good idea to understand some basic terms that apply in many circumstances. Here are nine to get you started. Amortization Paying off principal (see below) over time. You normally pay off the principal in a mortgage loan over the loan’s term through a fixed schedule. Appraisal A written report by a qualif...

December 13th, 2015 | Mortgage Basics, 9 Mortgage Terms You Should Know