When you’re ready to buy a home or refinance your current property, Elevations Credit Union’s mortgage team will walk you through the process. John Gilfedder, Mortgage Loan Officer, has worked with individuals, families and real estate professionals on the Broomfield / Westminster Branch since September 2018.
It’s the excitement in a shopper’s eyes at the closing table – a realization that the home ownership goal is being achieved – that motivates John to help Elevations members every day.
With nearly 25 years of experience in the financial services industry, John uses his background in banking, annuity, retirement, and 401 (k) s to help home buyers organize their finances and prepare to manage a mortgage.
“It’s very closely related because you usually keep members informed of their financial situation. And that’s why I like Elevations so much – coming from the atmosphere of a larger bank, I can now identify and identify needs by sitting down with members and looking through their financial situation. Then we put them on a path to finally get into a home in the future, ”he explains.
John says a loan should take into account both a member’s work budget and the lifestyle desired. To do this, he discovers the applicant’s entire life plan and how a mortgage can fit into the mix alongside other life goals such as saving for retirement, starting a family, or paying a car loan.
How members can prepare for a mortgage
In order to get the best rates and the ideal loan for a new home or refinance, John offers some tips to his members. First and foremost, keep an eye on your credit score. This valuable number will let a lender know if your history suggests that you may be able to make a long-term mortgage payment. If you’ve had a few financial problems – such as B. Late credit card payments – that’s fine. However, be aware how this will affect your credit score and know that there are ways to increase your numbers!
John also helps members understand their overall flow of income. In addition to an employer’s paycheck, this includes additional income such as spouse support, part-time employment, income from freelance secondary employment or payments from a legal settlement. All of these considerations give your lender a complete picture of how to manage a down payment and monthly mortgage payments.
Finally, he explains the importance of disclosing your currently outstanding debt such as car payments, credit card balances, student loans, or other ongoing bills like a gym membership or golf club fees. When you have all of these numbers, not only can you better qualify for a home loan, but John can recommend a comfortable spending limit on a home so that your monthly expenses are reasonable.
“What the mortgage process doesn’t take into account is your lifestyle before buying a home. You don’t want to have to cut everything down to get into a house. So it’s important to look not just at the things we’re going to measure for your qualification, but also your general lifestyle and other expenses, as well as what you will enjoy as a mortgage, ”added John. “I always try to put myself in the shoes of the member. You know, it gives me an idea of what they might be dealing with. ”
A connection to real estate professionals
In 1990, John moved to Colorado from New York City to pursue his career in the financial services sector, eventually switching to mortgage loan making, which he has been doing for about six years.
During his time focusing on home loans and refinancing, he was anxious to establish trusting relationships with real estate professionals in Colorado. Their clients need mortgages, so they work together as a team to make the dream of owning a home for Colorado residents a reality. And the opposite is true. When an Elevations member contacts John for information on starting the home buying process, he will have a list of brokers® He can recommend friends.
John went on to explain how he loves the community spirit at Elevations. From banking and financial planning to mortgages and refinancing, members have all the services they need under one roof to prepare for and enjoy a home. Working behind the scenes with Elevations staff on various teams makes each member’s experience as streamlined and educational as possible.
“I think what sets Elevations apart from most places is the culture and team concept. I can honestly say that everyone on my team or in mortgage production has the same common goals to get this buyer on target, ”he explains.
Family time and fresh air
When he’s not helping members become homeowners, John is active with his family and hobbies. On a sunny afternoon, he could take his teenage son through soccer practice, tee off nine holes on the local golf course, or go for a walk with his wife, son, daughter and their two miniature Australian shepherds.
“Golf has always been one of those sports that is very individual and you can work on your skills at your leisure. And hopefully you will see the results on the course. It’s also a great way to hang out with friends, hang out and have a good time, ”adds John.
Do you have any questions about home loan? John would love to meet you in person at our Broomfield office by phone or video chat. You can reach John (NMLS # 743450) at (720) 285-9854 or email firstname.lastname@example.org.