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- thursday: 8:00AM – 5:00PM
- friday: 8:00AM – 5:00PM
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- Home Equity
- Purchase
- Refinance
- Reverse Mortgage
Kathy Burns
- Reverse Mortgage Specialist
- Newport Beach, CA Mortgage Loan Officer
- NMLS #288457
Let’s take advantage of your home equity
Hi, I’m Kathy, a reverse mortgage specialist with over 20 years of experience. I take a personalized approach to retirement planning, collaborating closely with financial advisors and families to listen and understand each unique situation. Throughout my career, I’ve seen how a well-structured reverse mortgage can transform the lives of homeowners, providing them with the financial flexibility and security they need during retirement.
As part of our Newport Beach, CA branch of America’s #1 Retail Mortgage Lender, I’ve assisted and informed many homeowners aged 62 or older on how their home equity can be used to improve cash flow and enhance their financial well-being. I take pride in explaining reverse mortgage refinance and purchase options in a clear and easily understood manner, ensuring that you feel confident and well-informed about your choices. Whether it’s reducing monthly expenses, paying off debts, or creating an additional income stream, I’ll help you reach a more secure future and achieve your retirement dreams!
Kathy’s testimonials
Guides and resources
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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.