The McElroy Team
Your Future Our Focus
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3871 Plaza Drive, Unit 28 Fairfax, VA 22030 Mobile (703) 201-9393 Tel (703) 291-0936 [email protected]
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- Purchase
- Refinance
We’ll be with you every step of the way
Our commitment to excellence in home financing spans decades in the Washington, D.C. metro area and beyond. As part of America’s #1 Retail Mortgage Lender, we put you at ease throughout the entire mortgage process—from the very beginning of your search for a home, through the simple, streamlined process of obtaining your home financing.
We have long specialized in helping a broad range of borrowers—from first-time buyers to self-employed borrowers, experienced high-end investors, and any other unique situations that may arise. We are accessible 24 hours a day, 7 days a week, and will be pleased to assist you with the purchase or refinance of your home.
Specializing in all areas of home financing:
- First-Time Homebuyers
- Experienced Investors
- Construction-to-Permanent Financing
- Primary Residence Purchases/Refinances
- Second Home Purchases/Refinances
- Investment Property Purchases/Refinances
- Reverse Mortgages
Contact
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.
Inspiration for your home loan journey
Rob’s testimonials
Meet our team
Rob McElroy
- Senior Vice President of Lending/Branch Manager
- NMLS #20408
- 3871 Plaza Drive
- Unit 28
- Fairfax, VA 22030
- [email protected]
- mobile 703-201-9393
- tel 703-291-0936
Liz McElroy- Filan
- Senior Vice President of Lending
- NMLS #659461
- 3871 Plaza Drive
- Unit 28
- Fairfax, VA 22030
- [email protected]
- mobile 703-856-7247
- tel 703-672-3254
Our support staff
Larkin Petrelles
Loan PartnerMy social posts
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.