Success Stories

You Have Nothing to Lose with a Refinance

A recent borrower we worked with bought a townhome 18 months ago with a 4.75% rate. After running the numbers we found that we could refinance to drop her rate down to 2.625% and save her $350 per month. At first she was super hesitant to do the refinance because she was only planning to live in Utah for another 2 years. She was interested in the idea of keeping the property as a rental when she moves out of state but had not fully made up her mind yet. She spent hours running numbers this way and that to work out if refinancing would benefit her long term For me it was a super easy decision because her breakeven point was only 10 months. Meaning that 10 months of saving $350 paid all of her refinance costs. She is definitely staying in Utah for another 2 years so she will save $350 every month after month 10. And if she does decide to keep the property and convert it to a rental down the road she is in a much better position to have cash flow. She had nothing to lose with this refinance and in the long run it saved her thousands. If you are wondering what a refinance could do for you, give me a call. I'd love to price out some scenarios to show you what potential savings a refinance could provide for you.
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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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Anthony’s Office: Where There’s a Will, There’s a Way

Recently I had a client in my office brainstorming ways she could acquire more rental properties. She was 64 years old and was dressed somewhere between homeless and casual. She already owned 12 properties, seven of which were owned free and clear, but she wanted more. I was amazed and wanted to learn more about how she acquired and paid off so many investment properties, so I asked how she did it. She told me her story as she was double dunking a week old donut into her coffee (don’t ask me why we had week old donuts in the office, we just did). I warned her the donuts were a week old and she still ate two. It was 1976, she was 22 years old, and living in an apartment building across the street from the University. She had the bright idea that she would like to own the apartment building. She strolled into her bank, sat down with the bank officer and told her she would like to buy the apartment building she was living in. The bank officer started rolling in his chair with laughter; he couldn’t believe his ears. He brought the bank manager into his office to have her tell him what she came in for and they both started laughing and cracking jokes at her. She had never been so humiliated, crushed in her life. She walked out of there feeling devasted, but also with a profound sense of vengeance and “Screw you!” attitude towards the bank officers. She promised herself she would purchase those apartments and nobody would ever treat her like that again. In the following year, she bought her very first condo. A couple years later, she bought another condo, then another, as well as a single-family home. In the 42 years since her first rejection, she has acquired a total of 12 properties – Did I say seven of which are now owned free and clear? She has not sold a single property. Her average monthly income as a result is over $15,000, a gross income over $180,000 per year. Roadblocks have not been an option for her! Her resulting success is middle finger enough to the nay-sayers that threatened to thwart her from her path. If she would have accepted her initial “no” answer, she surely would not be where she is today. Refusing to take “no” for an answer clearly afforded my client the life she has always dreamed about, perhaps more. At some point in every one of our lives, we face rejection as a natural reaction to be being in alignment with our goals. Life puts many roadblocks in front of us and it is our job as individuals to either let those blocks separate us from what we want or accept them and find ways to overcome them. Challenging the odds and refusing to give up hones our character to be able to defeat obstacles standing in our way. My client’s success did not come overnight. It came brick upon brick or condo upon condo over 42 years. It’s amazing to me what we can accomplish slowly and over time with diligence and staying close to our goals.
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“Shining Star in Our Home Purchase Process”

Anthony with ALV Mortgage was a fantastic broker to work with! He was the shining star in our home purchase process. We are first time home buyers. Anthony not only worked with me to make sure I know what the process was supposed to look like, but he also worked to ensure that the process happened quickly and smoothly. Interest rates went up during the process, but Anthony worked his magic and was able to get us the rate we were after! Our loan processor (Rhoda) was incredibly professional and quick on the phone. We had a couple calls and sent several emails along the way with updates. I would recommend Anthony and ALV Mortgage to everyone! He was able to beat Rocket Mortgage's rates and fees, and was much quicker! Jeffrey Green - Salt Lake City  
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Success Story

Josh K was referred to me by a real estate agent in July of 2014. I found during the initial interview that Josh had a 484 credit score, but he was willing to work with our program. Josh was just starting a new full-time job and was carrying a lot of credit card debt. As a recent graduate with a Masters, he also had four kids and a real need for housing. Josh did not know what to do or how to raise his credit score. We created a clear written plan and met monthly to keep him on track. By working closely with Josh month-by-month, we watched his score climb 190 points to a 674. We referred Josh back to the realtor who thought he had a dead lead. Instead, the agent earned a $10,000 commission and a very happy client. If you have any clients that were turned down due to a terrible credit score I would love to speak to them. As with Josh, even a score as low as 484 can often be repaired with our comprehensive approach and monthly follow up. We offer a free Second-Chance Review, which includes a detailed written plan, free credit repair, and monthly follow up. We help them stay on target until they have a score that will qualify. Send us one lead and we’ll work to deliver you a qualified buyer. Justin Udy License #- 5644452-SA00 from Century 21 Everest Realty Group said “I knew this buyer’s credit was a challenge. There is only one person I knew I could trust to get this done. If there is anyone that can resurrect a dead deal it’s my go to lender Anthony.”          
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