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A Year to be Thankful

At this time of year I like to make a list of everything I am thankful for. With everything going on this year I especially wanted to take some time to think of all the good things I am grateful for despite the events of 2020. This year I am thankful for: -My Home, I am thankful for the beautiful home we own and all the amazing memoires we have made there -Our government and that we can vote, No matter who you voted for the simple freedom of being able to vote for our leaders and live in a Democracy is something to be thankful for. -Parking Garages because there is nothing worse than scrapping the snow off your car, especially in Utah where we can get a lot of snow with little warning -My Team, This year I have been able to grow my team. I am thankful for all their hard work and dedication, we had our best year yet at ALV Mortgage and I couldn't have done it without them. -My Family, Although we won't be able to see them for Thanksgiving this year, I know that I can count on them for anything and I can't wait for the day we can go back to see our extended family without the worry of COVID19. -Lastly, I am thankful each and every day for my wife Edita and our two children Neal and Daisy. Getting to go home to them each day makes everything I do worth it. Edita is an an amazing mother and I am thankful to be sharing life, love, and parenthood with such an incredible women. "Be thankful for all the struggles you go through. They make you stronger, wiser and humble. Don’t let it break you let it make you." – Anonymous
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“Sent a notary to my house so I wouldn’t have to drive 45 mins. They exceeded my expectations!”

"Anthony at AVL made this process straightforward and answered my many questions. The AVL team even sent a notary to my house so I wouldn’t have to drive 45 mins. They exceeded my expectations!" Delmer B.
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“Completed my refinance in the time I waited to hear back from the credit union”

"I had applied at a America First for a refinance spoke to 3 different people about it and then a few weeks went by and I hadn’t heard anything so I called them and they told me they had no record of it. I was furious. Anthony and his group had done my original mortgage so called them and Anthony and his group had my refinance completed in the time I waited to hear back from the credit union it was amazing." Linda W.
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“Very timely and organized. Would definitely recommend!”

"Anthony is great! I’ve used him for both my first home purchase and refinancing. He has given me the best deal and made everything work out perfectly for me. He’s very timely and organized. Would definitely recommend!" -Braden R.
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Biden’s Proposed Tax Credit Could Drive up Home Prices

President Elect Joe Biden has proposed a $15,000 tax credit to help first-time homebuyers purchase a property. The proposed First Down Payment Tax Credit is meant to help families offset the costs of homebuying. Buyers will receive the tax credit when they make the purchase instead of waiting to receive the assistance when they file taxes the following year. The National Association of Realtors Chief Economist Lawrence Yun responded to the proposed tax plan by saying that the $15,000 tax credit is good news since it can go a long way in terms of helping first-time homebuyers and minority households. However, this is only one part of the solution. Although this plan seems like a good path to take to increase homeownership in America, there are also dangers to the tax credit. “The full story is that stimulating the demand just by itself is insufficient,” Yun said. “The $15,000 will certainly help the possibility for the potential first-time buyers, but the only way to make that impactful is to ensure that we have sufficient supply available as we go into 2021.” Yun fears that Biden’s proposed tax credit will add more fuel to the housing demand without addressing the lack of supply. Which could result in home prices accelerating much higher; partly negating some of the benefits of the $15,000 tax credit. Currently we are experiencing a historic home shortage and record-low mortgage rates are pushing prices to new heights. The housing supply shortage continues to get tighter as not enough homes are being built to face the demand from buyers. “If we add further stimulus to the demand without addressing the supply… it will simply bump up the prices even higher.” As we move forward into the new year it is important to be cautious that this tax credit could drive home prices higher. If you are wanting to get ahead of this tax plan now is the time to act. Contact us today to discuss your options for a home purchase.
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“Complete the loan in a timely manner and they pay close attention to detail”

"Anthony and his team do an amazing job of completing the loan in a timely manner and they pay close attention to detail I will be seeing them in the future" -Thomas
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“We’ve saved so much money!”

"We've saved so much money! When my wife and I bought our home it was about $200 more per month than we could really afford, essentially we got screwed by the previous lender. However, we've refinanced with Josh twice now and by so doing have dropped our mortgage payment by $188. Both times Josh has been the key component for our ability to save money. The first time he was very aware of the market and helped lock in our interest rate right before is started climbing again. The second time he reached out to us knowing the market was low and it might benefit us, which it totally did. Thank you Josh!" -Nathaniel M.
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“My expectations were more than met! Thank you ALV Mortgage!”

"This was a very smooth refinance and my expectations were more than met! Thank you ALV Mortgage! In these days of 2020 it's nice to have something positive and Leandro is a pleasure to work with ♡" -Karen R.
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Refinance Today, Save Cash for the Holidays

The holiday season is quickly approaching. Although it is deemed the best time of the year, it can also be the most stressful season when it comes to finances. Whether it be holiday décor, Christmas gifts, or travel plans the end of the year can involve a lot of expenses. Throw in the fact that we are in a pandemic and people’s budgets may be tighter than ever. According to an online survey by the Ascent in 2019 it was reported that the average consumer who bought Christmas gifts spent over $925 and that 21.5% of Americans surveyed went into debt from Christmas. Whether it be through personal loans, maxing out credit card limits, or opening new store cards many Americans do whatever it takes to pay for their holiday. But why put yourself into a debt right at the beginning of a new year, when you could find a better way to get some extra funds this December? A lot of people don’t know that a cash out refinance can be more beneficial than taking out a personal loan or maxing out credit cards. We want to help you by exploring the potential advantages of a cash out refinance on your home. A cash out refinance allows you to pay off your existing mortgage and begin a new loan, just like a traditional refinance. But instead of refinancing for what you currently owe on your mortgage, you refinance for a higher loan amount. You then get the extra amount in the form of a lump-sum payment after your loan closes. Another bonus of a cash out refinance is if interest rates have dropped since you took out your original loan, a cash out refinance could also lower your rate at the same time. Like a recent borrower we worked with who worked for a company that had been hit hard by COVID19. His hours were cut at work, simultaneously lowering the family’s monthly income. They reached out to see if there was a refinance option that could help them lower their mortgage payment to save money monthly. After running the numbers, we decided to move forward with a cash out refinance. We were able to drop their interest rate from 3.75% to 2.75%, saving them $200 a month. However, the best part is that not only did we refinance them to a lower rate and monthly payment ultimately saving them thousands over the life of their mortgage, but they were able to skip 2 months of payments and use that money in other areas of their life, like to check a few more people off their Christmas list. The borrowers were getting by despite their income drop due to COVID, but skipping the two mortgage payments and lowering their monthly payment by $200 is really going to help them out long term and allow them to put together a terrific holiday this year! If you are not sure if a cash out refinance is right for you, reach out! ALV Mortgage can help you explore your options and see what would be best for your individual situation.
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