If purchasing for a house or funding property is in your to-do record, 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. Be taught extra about her 15 years within the credit score union trade and method to mortgage mortgage origination.
Alicia Bustamante helps Elevations members discover the most effective dwelling 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 supreme home fee appears to be like like and reminding them that there are lots of types of mortgages accessible, helps her construct each a stable working relationship and the perfect mortgage.
“I’m shocked at how many individuals will really inform me, ‘We’ve talked with different mortgage officers, and no person’s ever defined these varieties of issues to us,’” she stated. “That’s simply form of baffling to me.”
Bustamante merely doesn’t go away any questions unanswered. In any case, a mortgage might be the most important mortgage an individual will ever tackle of their lifetime. It’s finest to grasp each step of the method.
“I really 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 stated. “I like it right here. Everyone 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, home equity lines of credit and mortgages. She additionally labored in enterprise improvement.
Explaining the mortgage approval course of and mortgage decisions
Bustamante stated serving to folks get into a wide range of mortgage sorts and instructing them about their credit score helped her understand how a lot she enjoys the schooling part of mortgage origination.
Whether or not you’re a first-time homebuyer, rental property investor or property proprietor trying to refinance an existing loan, Bustamante is able to discover all of your choices. She’s blissful to clarify the ins and outs of every mortgage kind and recommend which of them could be finest on your particular person situation.
“I really 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 absolutely perceive what they’re entering into,” she stated. “’Listed here 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 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 will probably be there for them for the following steps within the home-buying journey, whether or not it’s a refinance in a couple of years, or upsizing or downsizing as life strikes ahead.
“It’s not, you recognize, one and completed,” Bustamante stated in regards to the dwelling shopping for course of. “I at all times inform folks, ‘You’re form of caught with me.’ Even after the mortgage is closed, I’m at all times prepared to inform folks to name me when you have hassle along with your funds, or when you’ve obtained questions in your escrow accounts. Even when it’s not mortgage-related, name me and I’ll get you to the precise individual.”
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 all the way 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 folks she works with.
Just a few ideas for mortgage buyers
In case you’re a first-time dwelling purchaser, or it’s been years because you’ve navigated the mortgage course of, Bustamante provides a couple of ideas and reminders to achieve success:
- There aren’t any dumb questions — particularly if you’re taking over a big monetary duty like a mortgage. So, ask away!
- Get a mortgage pre-approval earlier than you get too far into house hunting. This helps you understand how a lot of a house you may afford.
- Ask about present charges and mortgage sorts, together with applications which will profit your state of affairs 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 take pleasure in. You’ll be collaborating for a number of months and have to get alongside.
“I encourage folks to buy round, make sure that the lender you’re working with understands your wants, on the similar time offering you the most effective mortgage choice,” Bustamante stated, including that this helps members know what’s on the market and understand 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 every week in the course of the season. Once they aren’t on the golf green, they’re lacing up their sneakers to go on a nature hike with their three children and prolonged relations.
In the course of the college 12 months, the household is targeted 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 cellphone 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 firstname.lastname@example.org.
Elevations is an equal alternative lender.