Whether you’re looking for a new investment property, a getaway in the mountains, or that coveted first home, the Elevations Credit Union mortgage team can help. Chris Milbrath, Mortgage Loan Officer, has been assisting Elevations members with their home loans, including new purchases and loan refinancing, since 2012. Learn more about his approach to mortgage lending on this blog.
Chris Milbrath loves dreamers. He says the best part of his job is when an excited member visits his office to learn how to make his home dream come true. Second best moment? To see them get the keys at the locker table.
“For me, this part is always a fulfilling piece because it is the end of the journey where you finally get the reward,” he explains.
Chris began working in mortgage loan origination in 2002. Since joining the Elevations Mortgage team in 2012, he has handled almost everything – from first time home purchases and jumbo second home loans to investors looking to diversify their portfolios and retirees looking to downsize on condominiums. If your plans involve buying a home or rescheduling an ongoing loan, Chris can help.
How to prepare to get a mortgage
With 19 years of experience in the mortgage loan business, Chris has visited numerous first-time home buyers. He says you don’t have to come to your first meeting with a folder full of bank statements and tax documents. Instead, bring an open mind and be ready to talk about your shopping goals, current commitments, and financial history. Together, Chris and his homebuyers can work through the online loan application and answer any questions that come up.
To prepare for the meeting, there are a few things you can think about on your own, such as:
- How much of a house payment do you want to manage each month?
- How much can you offer as a deposit?
- What is your credit score like?
- Have you checked your credit report for accuracy?
Chris also recommends that borrowers make a list of questions they can think of, such as “How much do I need to bring to the graduation table?” Together you will work out the answers to your questions and find out which type of loan makes the most sense for your current goals in life and your budget.
Sometimes the conversation turns into a financial wellness coaching session to best prepare the member for home ownership in the near future. Chris notes, “We’re talking about what we can do to help them get a better financial picture, to buy and get the best prices and options possible.”
Each applicant has their own unique story
Chris says he listens closely to every member who contacts him for mortgage advice. He wants to achieve their goals and learn what they hope to find for themselves and their families. Every buyer is unique. Some want to buy a fixation top and work on remodeling projects every weekend because it makes them feel complete and happy. Others want a home payment that is below their means so they can travel or exercise on the weekend.
He also likes to know how long the buyer would like to stay in the house. Is it a stepping stone or a permanent residence? Are buyers looking for a second home planning to sell first or rent it out for extra income each month? This helps him to find out which type of loan (or refinancing) is most economical in the current interest rate environment and informs him of his offers for the buyer. After all, there is so much more than a 30 year fixed-rate mortgage.
Elevations puts people before profit, which fits perfectly with Chris’ approach to lending. “They stand behind their loan officers and their members to make sure they are careful,” he said.
Beyond rates and refis
When he’s not finding the perfect loan, Chris and his 25-year-old wife look after their two kids who are in college or having fun out in the Rockies. They enjoy mountain biking, hiking, and hanging out with their older golden retriever dog.
Soon they hope to visit Chamonix, France, in the foothills of the Swiss Alps, where their daughter spent some time and fell in love with the culture and cafes.
Are you ready to start pre-approving your mortgage? Chat with Chris (NMLS # 306002) at the Elevations Mortgage Office in Longmont in person or via video chat. He can also be reached by email at firstname.lastname@example.org or by phone at (720) 652-7109.