Denver Tech Center
In 2007, Gavin Ekstrom brought Citywide Home Loans to Denver, Colorado, where he grew the organization from one employee to more than 175. Currently serving as the firm’s senior area manager, he was named a Five Star Mortgage Professional by the Five Star Professional organization as well as 5280 Magazine. To help him stay connected locally, Gavin Ekstrom belongs to the Denver Tech Center (DTC) Greenwood Village Chamber of Commerce.
As a way for businesses and residents to connect with each other, share ideas and resources, the DTC Greenwood Village Chamber of Commerce offers access to personal and business development ideas. The organization believes that the typical chamber of commerce models are out-of-date, so it encourages members to challenge the status quo in a positive manner to better the community.
In order to reach those goals, the organization offers numerous gatherings for members to share their ideas and meet other like-minded individuals. On October 20, 2016, the chamber of commerce participated in the 16th annual Taste of Greenwood Village. The Taste, which benefitted the Cherry Creek Schools Foundation, featured contemporary jazz artist Jennifer Lane. Visitors enjoyed food from local eateries, craft beer from local breweries, and an event sommelier who paired wines with cuisine.
Colorado Mortgage Lenders Association
Since 2007 Gavin Ekstrom has worked as an area branch manager for Citywide Home Loans located in Denver, Colorado. In this role, he deals with all branch operations, including training, marketing, and loan officer certification. To help him remain informed on changes made within the mortgage industry, Gavin Ekstrom maintains membership with the Colorado Mortgage Lenders Association (CMLA).
Founded in 1956, the CMLA is a nonprofit trade organization that includes members who work in Colorado’s mortgage lending industry. These members include mortgage brokers, commercial bankers, and mortgage loan originators, among others. The CMLA strives to monitor integrity-based lending by setting ethical standards. It also offers networking opportunities and educational sessions.
One event that combines networking and learning is the CMLA’s annual convention. The 44th annual convention, scheduled from August 9 through 11, 2017, at the Vail Marriott Mountain Resort, offers an opportunity for compliance professionals, mortgage company owners, and loan originators to meet with top mortgage industry leaders. Participants also partake in breakout sessions and attend keynote speeches. Two speakers who attended the 2016 event included renowned lecturer and best-selling author Tommy Spaulding along with chairman-elect of the Mortgage Bankers Association Rodrigo Lopez.
With over 20 years of experience helping people with their mortgages, Gavin Ekstrom serves as senior area manager at Citywide Home Loans in Colorado. Since he began in 2010, Gavin Ekstrom has built the company from a single employee to more than 175, over five locations.
There are many different options available to those seeking a loan for their first home. Conventional loans often require a down payment of around 5 percent as well as reasonably good credit, but there are many ways to get a homeowner’s loan that Citywide can help with.
State bond programs offer a low-cost loan option with low interest rates that may be more accessible to many people than a conventional loan. There are also mortgages available that are insured by the Federal Housing Administration (FHA) that tend to have lower down-payment requirements as well as flexible terms, so many people who may not qualify for a conventional loan could find this option very attractive.
The US Veterans Affairs office can provide longer-term loans with favorable terms to veterans as well as to those in active service and surviving spouses. If your home is under construction, special loans are also available that can help finance the home being built. Citywide works to ensure that people find a loan from these options and others, so that they can comfortably invest in their own home.
As an experienced mortgage professional, Gavin Ekstrom draws on an in-depth knowledge of federal loan programs. Gavin Ekstrom serves as senior area manager with Citywide Home Loans, where he helps clients understand such opportunities as the Veterans Affairs Home Loan Guarantee Program.
Through its Home Loan Guarantee program, the Department of Veterans Affairs (VA) works with lenders to make borrowing more affordable to qualified borrowers. This includes current members of the armed forces as well as non-dishonorably discharged veterans, surviving spouses, and members of the Reserves or National Guard.
Qualifying individuals borrow directly from lenders but benefit from the VA’s backing. This leads to a number of more favorable terms, including less stringent down payment and mortgage insurance requirements.
The VA Home Loan Guarantee Program also allows eligible borrowers to finance closing costs. This can enable a borrower to finance every aspect of the loan. Approval does depend on the borrower’s credit history and ability to qualify through a lender.
Fortunately, the VA’s relationship with lenders allows for more generous qualification benchmarks as compared to traditional mortgage applications. Rates are competitive within the market, and approved debt-to-income ratios are typically about 3 percent higher than those required on the open market.
As senior area manager for Citywide Home Loans, Gavin Ekstrom oversees the origination and processing of lending in the Denver, Colorado, region. Gavin Ekstrom draws on an in-depth knowledge of United States Department of Agriculture (USDA) loans and other federal programs.
The United States Department of Agriculture, or USDA, offers its guaranteed loan program for single-family housing as a way to improve ownership affordability in rural areas. The program offers 90 percent note guarantees for low- to moderate-income applicants who wish to build, improve, or relocate housing in eligible areas. These guarantees make it possible for banks to offer loans to these potential buyers.
The program is available to nationals, citizens, and qualified aliens who intend to maintain the purchased residence as their primary dwelling. Funds may go toward the purchase of a new or existing property or toward repairs of a residence in an eligible area. Repairs may range from structural rehabilitation to the connection of utility lines and can include the installation of accommodations for residents with disabilities.
Gavin Ekstrom has led as senior manager for Citywide Home Loans in the Denver, Colorado, area since 2005. Gavin Ekstrom comes to his role following 15 years as a loan officer, during which time he helped numerous clients apply for and understand mortgage lending.
The complex process of mortgage rate fluctuation begins with the basic rules of supply and demand. If there is a high demand for mortgages, rates are likely to rise so that lenders can take advantage of consumer interest. Similarly, if homeowners show a greater interest in selling, rates often rise commensurately with increased home availability.
Mortgage rates also depend on the overall health of the economy. When indicators such as job availability reports and consumer confidence show a thriving economy, mortgage rates tend to rise in turn. Inflation tends to have a similar effect, as fears of a limited money supply causes a rise in interest rates.
Banks offer additional consideration to the likelihood of finding buyers for mortgage-backed securities. A rise in loan origination can lead to a drop in prices, which drives rates higher. For this reason, federal buyers often step in and purchase securities to keep prices low and thus benefit the consumer. The overall process is extremely intricate, but demand remains a primary driving force.
A professional mortgage lender in Greenwood Village, Colorado, Gavin Ekstrom serves as the senior area manager for Citywide Home Loans. Gavin Ekstrom is also a member of the Boulder Chamber, the region’s key business support and advocacy organization.
In November, the Boulder Chamber’s Business Women’s Leadership Group (BWLG) will host the BWLG WOW, which offers marketing and public relations professionals an opportunity to improve their businesses’ marketing and publicity tactics. The session focuses on teaching participants how to implement a “wow” factor that draws in new clients. Covered topics include building solid marketing plans, developing strategies for working with the media, and creating public-relations policies. Additionally, participants will receive coaching on some of the industry’s newest and most effective marketing techniques.
One of the Boulder Chamber’s most active groups, the BWLG strives to provide education, leadership, and networking opportunities for business women. Its sessions focus on the professional development of women throughout the country.