If purchasing for a house or funding property is in your to-do checklist, the Mortgage Workforce at Elevations Credit score Union would like to be your lending associate. Mortgage Mortgage Officer Alicia Bustamante has been educating Elevations members about their residential mortgage choices on the Denver Tech Middle (DTC) Mortgage Manufacturing Workplace since November 2021. Study extra about her 15 years within the credit score union business and method to mortgage mortgage origination.
Alicia Bustamante helps Elevations members discover the perfect residence loans, however she isn’t one to solely depend on checklists and spreadsheets. She additionally likes to speak.
Studying about members and discovering what their ultimate home cost seems like and reminding them that there are various kinds of mortgages obtainable, helps her construct each a stable working relationship and the perfect mortgage.
“I’m stunned at how many individuals will truly inform me, ‘We’ve talked with different mortgage officers, and no one’s ever defined these kinds of issues to us,’” she mentioned. “That’s simply form of baffling to me.”
Bustamante merely doesn’t depart any questions unanswered. In any case, a mortgage might be the most important mortgage an individual will ever tackle of their lifetime. It’s greatest to know each step of the method.
“I like how a lot Elevations permits us to tailor loans to suit the wants of the people we’re working with and the way a lot they actually care about their membership base and workers,” she mentioned. “I adore it right here. All people is super-duper good.”
Previous to becoming a member of the Elevations Mortgage Workforce, Bustamante labored at one other credit score union from 2007 to 2021. She began within the client lending division and finally migrated to mortgage lending in 2017. Throughout these years, she labored with Coloradans to safe private loans, auto loans, residence fairness traces of credit score and mortgages. She additionally labored in enterprise improvement.
Explaining the mortgage approval course of and mortgage decisions
Bustamante mentioned serving to individuals get into quite a lot of mortgage sorts and educating them about their credit score helped her notice how a lot she enjoys the training element of mortgage origination.
Whether or not you’re a first-time homebuyer, rental property investor or property proprietor trying to refinance an current mortgage, Bustamante is able to discover all of your choices. She’s comfortable to elucidate the ins and outs of every mortgage kind and recommend which of them could be greatest on your particular person state of affairs.
“I like working with first-time homebuyers as a result of I like educating them on the completely different merchandise just like the adjustable-rate mortgage (ARM), the standard or the FHA, and explaining the variations in order that they absolutely perceive what they’re moving into,” she mentioned. “’Listed below are all of the choices on the desk. You choose which one you want essentially the most as a result of, on the finish of the day, you’re the one making the cost.’”
There for you earlier than and after closing
It’s not unusual for Bustamante to verify in with members after they get the keys to their residence. She desires to verify they’re proud of their expertise, are nonetheless getting their questions answered and know that she will probably be there for them for the subsequent steps within the home-buying journey, whether or not it’s a refinance in just a few years, or upsizing or downsizing as life strikes ahead.
“It’s not, you recognize, one and finished,” Bustamante mentioned concerning the residence shopping for course of. “I all the time inform individuals, ‘You’re form of caught with me.’ Even after the mortgage is closed, I’m all the time keen to inform individuals to name me when you have hassle along with your funds, or in the event you’ve acquired questions in your escrow accounts. Even when it’s not mortgage-related, name me and I’ll get you to the suitable particular person.”
And if the questions are math-based, it’s a bonus. Bustamante’s dad is a trigonometry trainer for honors highschool math college students. That love of numbers was handed right down to her, which explains why she enjoys diving deep into the calculations and percentages to make the mortgage course of a bit simpler for the individuals she works with.
A number of ideas for mortgage buyers
When you’re a first-time residence purchaser, or it’s been years because you’ve navigated the mortgage course of, Bustamante provides just a few ideas and reminders to achieve success:
- There are not any dumb questions — particularly if you’re taking up a big monetary duty like a mortgage. So, ask away!
- Get a mortgage pre-approval earlier than you get too far into home searching. This helps you understand how a lot of a house you’ll be able to afford.
- Ask about present charges and mortgage sorts, together with packages which will profit your scenario like down cost help or low-income financing choices.
- Shopping for a house brings up a rollercoaster of feelings from pleasure and happiness to emphasize and frustration. However, on the finish of the day, signing these closing papers makes all of it value it.
- Work with a lender who has a persona you get pleasure from. You’ll be collaborating for a number of months and must get alongside.
“I encourage individuals to buy round, be certain the lender you’re working with understands your wants, on the identical time offering you the perfect mortgage choice,” Bustamante mentioned, including that this helps members know what’s on the market and notice the worth and private consideration they obtain at Elevations.
Having enjoyable past crunching numbers
Bustamante and her husband are avid golfers and attempt to hit the course no less than as soon as per week in the course of the season. After they aren’t on the golf green, they’re lacing up their sneakers to go on a nature hike with their three youngsters and prolonged relations.
In the course of the faculty yr, the household is concentrated on soccer practices and video games for the 2 boys and cheering on their daughter at softball or volleyball video games.
Are you prepared to speak about your house financing choices? Contact Alicia Bustamante (NMLS# 1026613) by telephone at (720) 951-6427 or schedule an in-person go to on the Denver Tech Middle (DTC) Mortgage Manufacturing Workplace. You may as well ship her an e mail at email@example.com.
Elevations is an equal alternative lender.