If purchasing for a house or funding property is in your to-do checklist, the Mortgage Crew at Elevations Credit score Union would like to be your lending companion. 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 strategy to mortgage mortgage origination.
Alicia Bustamante helps Elevations members discover the very best dwelling loans, however she isn’t one to solely depend on checklists and spreadsheets. She additionally likes to talk.
Studying about members and discovering what their superb home fee appears to be like like and reminding them that there are numerous sorts of mortgages accessible, helps her construct each a strong working relationship and the best mortgage.
“I’m stunned at how many individuals will truly inform me, ‘We’ve talked with different mortgage officers, and no person’s ever defined these sorts of issues to us,’” she mentioned. “That’s simply type of baffling to me.”
Bustamante merely doesn’t go away any questions unanswered. In spite of everything, a mortgage might be the biggest mortgage an individual will ever tackle of their lifetime. It’s finest 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 staff,” she mentioned. “I find it irresistible right here. All people is super-duper good.”
Previous to becoming a member of the Elevations Mortgage Crew, Bustamante labored at one other credit score union from 2007 to 2021. She began within the shopper lending division and ultimately migrated to mortgage lending in 2017. Throughout these years, she labored with Coloradans to safe private loans, auto loans, dwelling fairness traces of credit score and mortgages. She additionally labored in enterprise growth.
Explaining the mortgage approval course of and mortgage decisions
Bustamante mentioned serving to individuals get into a wide range of mortgage sorts and educating them about their credit score helped her notice how a lot she enjoys the training part of mortgage origination.
Whether or not you’re a first-time homebuyer, rental property investor or property proprietor seeking to refinance an present mortgage, Bustamante is able to discover all of your choices. She’s glad to clarify the ins and outs of every mortgage kind and counsel which of them could be finest on your particular person state of affairs.
“I like working with first-time homebuyers as a result of I like educating them on the totally different merchandise just like the adjustable-rate mortgage (ARM), the standard or the FHA, and explaining the variations so that they totally perceive what they’re moving into,” she mentioned. “’Listed here are all of the choices on the desk. You decide which one you want essentially the most as a result of, on the finish of the day, you’re the one making the fee.’”
There for you earlier than and after closing
It’s not unusual for Bustamante to test in with members after they get the keys to their dwelling. She needs to verify they’re proud of their expertise, are nonetheless getting their questions answered and know that she shall be there for them for the following 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 achieved,” Bustamante mentioned in regards to the dwelling shopping for course of. “I at all times inform individuals, ‘You’re type of caught with me.’ Even after the mortgage is closed, I’m at all times keen to inform individuals to name me if in case you have bother together 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 best individual.”
And if the questions are math-based, it’s a bonus. Bustamante’s dad is a trigonometry instructor 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
In the event you’re a first-time dwelling purchaser, or it’s been years because you’ve navigated the mortgage course of, Bustamante presents just a few ideas and reminders to achieve success:
- There are not any dumb questions — particularly while you’re taking a look at taking up a big monetary accountability like a mortgage. So, ask away!
- Get a mortgage pre-approval earlier than you get too far into home looking. 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 applications which will profit your scenario like down fee 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 price it.
- Work with a lender who has a character you get pleasure from. You’ll be collaborating for a number of months and have to get alongside.
“I encourage individuals to buy round, ensure the lender you’re working with understands your wants, on the similar time offering you the very best 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 at the least as soon as every week throughout the season. After they aren’t on the green, they’re lacing up their sneakers to go on a nature hike with their three children and prolonged members of the family.
In the course of the college 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 talk 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. It’s also possible to ship her an e-mail at [email protected].
Elevations is an equal alternative lender.