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- monday: 8:00AM – 5:00PM
- tuesday: 8:00AM – 5:00PM
- wednesday: 8:00AM – 5:00PM
- thursday: 8:00AM – 5:00PM
- friday: 8:00AM – 5:00PM
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- Jumbo Loan
- Non-QM Loans
Your Local CrossCountry Mortgage Loan Officer
Joe Magallanes
- Senior Vice President of Lending
- Newport Beach, CA Mortgage Loan Officer
- NMLS #491678
Hello! My name is Joe. I’ve worked at several of the nation’s largest banks and wealth management firms. Today, I’m Senior Vice President of Lending at the Newport Beach, CA branch of America’s #1 Retail Mortgage Lender. With 20 years of experience in the mortgage industry, I specialize in helping clients secure financing through jumbo and Non-QM (Non-Qualified Mortgage) loan solutions. I work closely with self-employed borrowers, high-net-worth individuals, real estate investors and those with unique income situations who may not meet traditional underwriting guidelines.
My expertise includes navigating intricate loan structures such as bank statement programs, asset depletion loans, DSCR investor products and interest-only jumbo loans. I pride myself on delivering creative, personalized solutions with speed, transparency and a expertise. Whether you’re purchasing a luxury home, refinancing a high-value property or exploring flexible financing options, l’ m here to guide you.
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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.
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.