Ask the Experts: Home Loans

Oct 20, 2022 3:14:43 PM

With so much information available, it can be overwhelming trying to find answers to our financial questions. That’s why we launched our Thrive Ask the Experts webinars where members can submit their questions to our in-house experts.

Most recently two of our mortgage loan experts, Sharon Cummings and Mike Levine, answered your frequently asked questions regarding Home Buying and provided tips to navigate the process. Below are some of the Home Buying Tips Sharon and Mike shared with attendees.

You may also view the full webinar on our YouTube channel.

How much house can I afford?

Sharon discussed that determining your housing budget is a great starting point to the home buying process. The Mortgage Loan Originators (MLO) can help you identify what amount you feel comfortable with, what impact credit will have on your pre-approval amount and what the next steps would be to become a homeowner.

Who do you work with at HUECU?
Sharon went on to explain that the credit union offers great benefits and we pride ourselves in personalized service. For the most part, you'll work with one originators from the very beginning to the very end of the process. The MLO will help you through navigating, explaining, and working with both you and the realtors. Mike also added that MLOs are available nights and weekends to help you.

What happens after you submit the mortgage application?

Mike stated that one of the important steps after submitting the application is receiving a loan estimate document. The loan estimate will give you a breakdown of all the closing costs associated with the mortgage. In addition to your down payment, you'll also need to have a specific amount for the closing. You can learn more about closing costs, and what happens at a closing here.

What loan options are available to homebuyers?
According to Sharon, HUECU has a range of mortgage products- including first-time homebuyer products and discounts. We offer three percent down products, conventional loans, adjustable-rate mortgages, and a wide variety of mortgages at competitive rates. You can view our home loan products and rates at

Our experts have decades of experience and are focused on helping you navigate the home buying process. Have a question or want tips for your specific situation? Contact our Home Loan team at

Tags: Home Buying, Loans