Your Local CrossCountry Mortgage Loan Officer
Tom Gates
Your biggest decision is my biggest passion
Hello! I’m Tom Gates, a veteran of over 30 years in home financing. Over the years, I’ve consistently enjoyed President’s Club and Chairman Elite recognition. Our son Ren partnered with me in 2020, and we are proud to serve clients with a wink and a smile at America’s #1 Retail Mortgage Lender.
A native of Princeton, my wife, Tracey, and our two kids moved home from the Boston area in 1993. You’ll find me volunteering weekly at Double Brook, a sustainable farm in Hopewell, and playing tennis.
Boards & Committees
· Former Chair of the Real Estate Business Alliance at the Princeton Regional Chamber of Commerce
· Executive Board of The WorkWell Partnership, a nonprofit helping formerly incarcerated people get into the workforce
· Elder & Trustee of the Presbyterian Church of Lawrenceville
· Board of Governors at Pretty Brook Tennis Club
· Golf & Tennis Committee for the Princeton Mercer Regional Chamber of Commerce
· Steering Committee for the Blood Donor Program at Princeton Healthcare System
Tom’s Reviews
Guides and resources
My social posts
Calculate how much you can save if you refinance your mortgage.
Enter the basic terms for your current loan and a new loan to calculate the differences and see the refinance savings over the life of the loan.
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.
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.