Axiom Financial Review

2.3/5 - (3 votes)

This is an archive of a consumer complaint published against Axiom Financial at


Business Details –

  • Name: Axiom Financial
  • Address: West 2180 South
  • City: West Valley City
  • State: UT
  • Phone: (801) 563-2900
  • Website:
  • Reported Loss: 3958 $
  • Severity of Scam: Extremely High


Original Complaint against Axiom Financial published at says, verbatim –


In short, Axiom Financial broker, Tom Grant, failed to disclose essential information regarding loans he procured for two of my rental properties, directly resulting in $18,637 in additional expense to me and $6,468 in additional compensation for him.Those who care to know more are welcome to read the explanation below.In March 2016 I purchased two rental properties with loans procured by Tom.At the beginning of the financing process Tom provided me with disclosures indicating that the rates on the loans would be 4.625%, with 0.379 points payable for his commission.I never received any other disclosures. Partway through the financing process Tom informed me that he was not confident that he would be able to finance me in-house through Axiom Financial due to my income, and encouraged me to switch to a different lender.I reminded Tom that if he included my wife’s income I would easily qualify for financing with Axiom, but Tom told me that would not be necessary and insisted that switching lenders was the right choice.Tom never disclosed to me that the original rates and terms he disclosed would not apply to the new loans.My attorney later informed me that this was a direct violation of Utah law (Title 61 Chapter 2C Part 3 Section 301).When I arrived at closing I learned that the rates on the loans Tom procured would not be 4.625% as disclosed, but 6.375% and 5.875% instead. Additionally, the commission owed for Tom’s services would be 1.5 points instead of the 0.379 points disclosed; a difference of $6,468.Also, a pre-payment penalty of $5,770 would apply if I refinanced.If I did not close using the loans Tom procured, I would lose $7,000 in earnest money and roughly $30,000 due to 1031 exchange restrictions.Tom was on vacation in Hawaii at the time and was not present at the closing to comment on the matter.I closed using the loans Tom procured for me and immediately sought refinancing.The first lender I contacted was able to easily refinance me at 4.25% on both loans (it was not necessary to include my wife’s income).I have now incurred $18,637 in unnecessary expense due to Tom’s behavior: $6,468 in paid for Tom’s compensation above what was promised, $5,770 in pre-payment penalties, $1,460 in additional loan interest due to the rates being higher than the 4.625% Tom disclosed, and $4,939 in closing costs for the new loans.When I contacted Tom about the matter he blamed the lender for failing to disclose and refused to refund the additional amount paid for his commission as he is required to do by law. (My attorney later informed me that Tom had full responsibility to disclose, regardless of the lender’s actions.)My experience with Tom has been that his behavior is unprofessional and unethical. According to my attorney his behavior is also illegal. If you are seeking financing for real estate, I highly recommend contacting Granite Federal Credit Union instead.


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