Shopping for a New Home? Or are you thinking about refinancing your current home loan? The Elevations Credit Union mortgage team will be happy to help you along the way. Today we’re talking to Sarah Reams, a mortgage lender from our mortgage office in Broomfield. Since September 2011, she has been helping Colorado residents with their home loan needs at Elevations. This is how she works with Elevations members.
Sarah Reams’ philosophy when it comes to home loans is to educate and educate members. She is also very creative in finding terms, rates, and payments that take into account other expenses and life plans of our members.
As she explained it, she paused and laughed, “It’s funny because my manager has told me several times that you get very creative. The word I would use to describe my style is definitely that creative. «
Each member has a unique circumstance and their own journey to buy a home. Sarah recognizes this and looks at all applicants with fresh eyes and loan ideas.
“I see each member’s situation as a story problem. There are all of these little details that you need to consider so that you can figure out the best way to achieve your end goal, ”she said. “I’ve always been such a nerd. Story problems have always been one of my favorites. I try to get every detail to make sure everything works. «
Prior to joining the Elevations team, Sarah worked on mortgage processing and closing for Countrywide Home Loans, which eventually became Bank of America. She has also worked with a credit union handling home equity lines and prime mortgages. The bottom line is that Sarah knows mortgages inside and out, from every angle.
“I’m not very pushy. I just want to give you what you need to make a good decision, ”Sarah explained. «I really like first-time buyers because they have a lot of great questions and I am happy to help.»
Tips for first time home buyers
With regards to those looking for their first home loan, Sarah happily shared a few ideas to make securing a mortgage easier. At first she says not to be afraid to ask questions, and any question is good. Ask how down payments work, what happens when you close, how an appraisal affects the loan application and what you can learn about buying a home.
Second, it encourages buyers to educate themselves and gather as much information as possible from your mortgage lender, real estate agent, and anyone else you involve in this process, such as a home inspector, insurance agent, or sales person that you work with during the shopping period.
When it comes to choosing your mortgage lender, «You need to find someone you work well with – who you will live with as a mortgage loan partner – because you will work closely with them on this important decision.»
Sarah tells you got to Trust your mortgage team. A home loan security is probably the biggest loan you will ever take out in your life. Hence, open, honest conversations must be had throughout the process if you are to have a good experience.
Insight for seasoned homebuyers too
On the other end of the spectrum, Sarah also works with seasoned homeowners looking to buy investment property, refinance an ongoing home loan, or downsize to a smaller property in preparation for retirement.
She says that while these people are smart about mortgages, it has likely been a few years since they went through the application process, presented financial records, and drawn on a hard loan. The rules change frequently in this industry so by partnering with a local lender you can learn more about the current buying and selling climate in your community and how the process is now working.
And what if you’ve secured a home purchase loan through Elevations in the past?
“You are still qualifying for a new mortgage, which means there will be documentation and then likely to update that documentation before you close it. They know we’re going to make it as pain free as possible, ”she explained.
think in other directions
One of Sarah’s specialties is creative loan options. There is more than the usual 30 year fixed rate that is widely discussed.
She enjoys speaking to members to find out how long they’d like to stay in the house, how quickly they’d like it paid off, and what type of monthly mortgage payment would make sense for them during this period. Sarah is working on configuring loan options members likely haven’t even thought of to complement their life plans.
Sarah says she enjoys being part of the Elevations Mortgage team because the philosophy is to do the best for the member. They are not pushy with numbers and sales targets, but prefer that the staff focus on what is right for the mortgage applicant.
A classic Colorado family
When she’s not helping Elevations members, Sarah and her husband raise two daughters and a dog in Arvada.
Like many Colorado families, they love the outdoors and spend the summer camping as often as possible. They also love to drive off-road in their decorated Jeep.
Want to learn more about buying a home or refinancing your current loan? Call Sarah (NMLS # 501271) at the Broomfield Mortgage Office at (303) 402-5448. You can also email your questions to firstname.lastname@example.org.