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413 N. Carpenter St., Suite 1W Chicago, IL 60642 Mobile (773) 230-8656 Tel (312) 319-8701 [email protected]
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- saturday: 9:00AM – 4:00PM
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- Conventional Loan
- Purchase
- Refinance
- VA Loan
Jeff Baker
I’ll be with you every step of the way
Hi, I’m Jeff Baker, known as the “Chicago Loan Coach.” I’ve advised clients in search of residential mortgages for over fifteen years. Based in our Chicago, IL branch, my honest, consultative style stems from an unwavering commitment to putting my clients first. Whether you’re a first-time homebuyer or seasoned veteran, my goal is to get your loan to the closing table with minimal stress and under the best terms available.
As part of America’s #1 Retail Mortgage Lender, I’m well-recognized in the industry, placing in the top 1% of all lenders in Scotsman Guide. I regularly provide radio commentary, articles, and speeches on my areas of expertise, including jumbo loans, investor loan products, and the first-time home buying experience. I graduated from the University of Notre Dame, where I was a member of the 1988 National Championship football team, and received an MBA in finance from the Kellogg School of Management at Northwestern University.
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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.