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- Purchase
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Renee Coleman
I’ll be with you every step of the way
Hi, I’m Renee Guidaboni Coleman, and since 2012, I’ve been educating consumers about their home financing options. Whether you’re a first-time homebuyer or looking to upsize or downsize, I’m here to help you long before you ever make an offer on a property. At the Wilmington, MA branch of America’s #1 Retail Mortgage Lender, I’m dedicated to finding a viable mortgage option that fits your goals and financial situation.
There are many factors to consider when it comes to a home loan, with interest rates being just one of them. I’ll sit down with you, review your budget, income, and savings, and help you get a clear picture of what program is realistic. Together, we’ll explore all your options to ensure you make the best decision for your homeownership dreams. In addition to conventional mortgage products, I specialize in reverse mortgages, which enable homeowners 62 and older to maximize their home equity and enjoy living in their home for as long as possible.
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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.
Inspiration for your home loan journey
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.