26 min

Financial Spring Cleaning: Securing your mortgage or home equity line of credit Financial Tea in the Morning

    • Self-Improvement

Home is more than walls and a roof; it’s where we create memories and plan for the future. Home is also a major source of collateral that can be tapped to meet long-term financial goals or cover life’s unexpected expenses. Financial Tea in the Morning is back with a new season, new hosts, and spring cleaning tips to refresh your money mindset. Where better to start than at home? Hosts Andrea Klunder and Josh Stringer discover strategies for turning one of life’s biggest investments into instant cash. They also learn how credit unions ensure that members get the best fiscal fit––with guests Marco Padilla, Chief Lending Officer, Del Norte Credit Union, and Ever Acosta, home equity loan specialist, Del Norte Credit Union. 
Two of the most popular lending options at a homeowner’s disposal are the home equity loan and home equity line of credit, or HELOC. A home equity loan allows borrowing at a fixed rate with a locked-in monthly payment. 
On the other hand, HELOCs are attached to fluctuating or variable interest rates. These funds remain accessible via a line of credit, allowing folks to plan, within reason, for the unexpected.
No home yet? No problem! Credit unions provide first-time mortgage applicants with competitive rates and community-focused financial literacy.
“Even if you don't do the loan with us, I'll actually sit with members and say, ‘Let's go over the paperwork, so you make sure you understand what you're getting,’” says Marco. “That's not a sales technique; that's just us. We want our members to get the best.”
Financial Tea Hot Sip: Now’s the time to spring into economic action! Pick up the phone or visit your local credit union to learn how you can become a member. At DNCU, you can get started with as little as a $5 deposit. Already a member? Let one of our loan specialists recommend the best home loan product to suit your needs. You might be closer than you think to securing that mortgage!
FEATURED GUESTS Ever Acosta
Home Equity Loan Specialist
Del Norte Credit Union
Marco Padilla
Chief Lending Officer
Del Norte Credit Union
Learn more and send your feedback and questions at: http://www.financialteainthemorning.com
***
Financial Tea in the Morning is brought to you by Del Norte Credit Union.
Produced and Edited by Andrea Klunder at The Creative Impostor Studios
Technical Director: Edwin R. Ruiz
Recording Engineer: Kabby at Kabby Sound Studios in Santa Fe
Hosted by Josh Stringer & Andrea Klunder
Theme music by Ricardo Lambert
Logo design by Charlie Gonzalez at Axess Multimedia
Disclosures 
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice. 
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice. 
Rates effective as of 3/28/2022 are subject to change. APR may vary. Stated rates are based on the following scenario: Home purchase transaction, $300,000 purchase price, 20% down payment, 45-day lock period, 740+ credit score, and estimated prepaid finance charged by the lender ($1,250). Estimated prepaid finance charges do not include all costs associated with originating a mortgage and may vary. Not all borrowers qualify for all programs, must meet underwriting guidelines, and are subject to credit review and approval. This does not constitute a commitment to lend. For mortgage loans other than fixed rate loans, it is possible that the borrower’s payment may increase substantially after consummation. The information contained is subject to change without notice. For an exact quote, contact Del Norte Credit Union.

Home is more than walls and a roof; it’s where we create memories and plan for the future. Home is also a major source of collateral that can be tapped to meet long-term financial goals or cover life’s unexpected expenses. Financial Tea in the Morning is back with a new season, new hosts, and spring cleaning tips to refresh your money mindset. Where better to start than at home? Hosts Andrea Klunder and Josh Stringer discover strategies for turning one of life’s biggest investments into instant cash. They also learn how credit unions ensure that members get the best fiscal fit––with guests Marco Padilla, Chief Lending Officer, Del Norte Credit Union, and Ever Acosta, home equity loan specialist, Del Norte Credit Union. 
Two of the most popular lending options at a homeowner’s disposal are the home equity loan and home equity line of credit, or HELOC. A home equity loan allows borrowing at a fixed rate with a locked-in monthly payment. 
On the other hand, HELOCs are attached to fluctuating or variable interest rates. These funds remain accessible via a line of credit, allowing folks to plan, within reason, for the unexpected.
No home yet? No problem! Credit unions provide first-time mortgage applicants with competitive rates and community-focused financial literacy.
“Even if you don't do the loan with us, I'll actually sit with members and say, ‘Let's go over the paperwork, so you make sure you understand what you're getting,’” says Marco. “That's not a sales technique; that's just us. We want our members to get the best.”
Financial Tea Hot Sip: Now’s the time to spring into economic action! Pick up the phone or visit your local credit union to learn how you can become a member. At DNCU, you can get started with as little as a $5 deposit. Already a member? Let one of our loan specialists recommend the best home loan product to suit your needs. You might be closer than you think to securing that mortgage!
FEATURED GUESTS Ever Acosta
Home Equity Loan Specialist
Del Norte Credit Union
Marco Padilla
Chief Lending Officer
Del Norte Credit Union
Learn more and send your feedback and questions at: http://www.financialteainthemorning.com
***
Financial Tea in the Morning is brought to you by Del Norte Credit Union.
Produced and Edited by Andrea Klunder at The Creative Impostor Studios
Technical Director: Edwin R. Ruiz
Recording Engineer: Kabby at Kabby Sound Studios in Santa Fe
Hosted by Josh Stringer & Andrea Klunder
Theme music by Ricardo Lambert
Logo design by Charlie Gonzalez at Axess Multimedia
Disclosures 
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice. 
Del Norte Credit Union is Federally insured by NCUA and is an Equal Housing Opportunity Lender, NMLS ID 500583. Content in this episode is for entertainment purposes only and not financial advice. 
Rates effective as of 3/28/2022 are subject to change. APR may vary. Stated rates are based on the following scenario: Home purchase transaction, $300,000 purchase price, 20% down payment, 45-day lock period, 740+ credit score, and estimated prepaid finance charged by the lender ($1,250). Estimated prepaid finance charges do not include all costs associated with originating a mortgage and may vary. Not all borrowers qualify for all programs, must meet underwriting guidelines, and are subject to credit review and approval. This does not constitute a commitment to lend. For mortgage loans other than fixed rate loans, it is possible that the borrower’s payment may increase substantially after consummation. The information contained is subject to change without notice. For an exact quote, contact Del Norte Credit Union.

26 min