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474 Lowell Street, Store #10 Peabody, MA 01960 Mobile (978) 979-8372 Tel (978) 955-2328 [email protected]
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- monday: 9:00AM – 9:00PM
- tuesday: 9:30AM – 9:00PM
- wednesday: 9:00AM – 9:00PM
- thursday: 9:00AM – 9:00PM
- friday: 9:00AM – 9:00PM
- saturday: 8:00AM – 5:00PM
- sunday: 8:00AM – 5:00PM
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- FHA Loan
- Jumbo Loan
- Purchase
- Refinance
- VA Loan
Michael Caras
I’ll be with you every step of the way
Hi, I’m Michael. My business is defined by the quote, “Homeownership is the cornerstone to a strong community.” I take pride in giving back through home financing and various car events tied to charities close to my heart. Whether you’re a first-time homebuyer or finding a new place to call home, I’m dedicated to helping you every step of the way.
From the start, I’ll listen to your goals and circumstances. If you’re a first-time homebuyer, I’ll walk you through the loan process and answer your questions. For those with previous mortgages, we’ll discuss new products like conventional, jumbo, FHA, and VA programs to fit your needs.
From our first discussion to closing day, I look forward to providing you with an outstanding mortgage experience. Let’s achieve your homeownership goals together with America’s #1 Retail Mortgage Lender.
Guides and resources
How much will my mortgage payment be?
This calculator is being provided for educational purposes only. The results are estimates based on information you provided and may not reflect CrossCountry Mortgage, LLC product terms. The information cannot be used by CrossCountry Mortgage, LLC to determine a customer’s eligibility for a specific product or service.
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Frequently asked questions
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Refinancing costs typically range from 2% to 6% of the loan amount and include fees such as appraisal, title insurance, and closing costs. Factors like your loan type, location, and credit score can significantly impact these expenses. Our team can help to provide strategies that can help minimize costs.
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To determine how much home you can afford, you’ll want to assess your financial situation. This includes your income, expenses, and debt-to-income ratio, to ensure your mortgage fits comfortably within your budget. A general guideline is to spend no more than 28% of your gross monthly income on housing costs and 36% on total debt.
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A good credit score typically starts at 620 for conventional loans, while FHA and VA loans may accept scores as low as 500, though higher scores offer better terms. A strong credit score can help you secure lower interest rates, saving you significant money over the life of a home loan.
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A Home Equity Line of Credit (HELOC) is a revolving line of credit that allows homeowners to borrow against the equity in their home. HELOCs function like a credit card, giving access to funds up to a set limit, which can be used for expenses like renovations or debt consolidation. You only pay interest on the amount you borrow, and the repayment terms typically include a draw period followed by a repayment period.
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To calculate your mortgage payments, start with your loan amount, interest rate, and loan term. Your payment will depend on the interest charged over time and the repayment schedule. You can use a monthly mortgage payment calculator or connect with us to learn more.