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275 E Rivulon Blvd, Suite 200
Gilbert, AZ 85297
KevinB@BarrettFinancial.com
(480) 330-7252
Hello! My name is Kevin Burrus, and I'm a dedicated mortgage loan officer with a passion for helping clients navigate the often complex world of home financing. With a focus on providing tailored solutions, I understand that each client has unique needs and financial situations. My goal is to empower you by offering personalized guidance throughout your journey, whether you are a first-time homebuyer or looking to refinance an existing loan. I pride myself on being a reliable resource and partner in the home purchasing process, ensuring you feel confident every step of the way.
Working with Barrett Financial Group, LLC, I have the opportunity to offer a wide array of loan products designed to suit various financial backgrounds. From FHA loans to conventional loans and everything in between, I have the knowledge and expertise to help you find the right home purchase loan that fits your needs. I understand the nuances of each loan type, making it easier for you to understand your options and the benefits they bring. My commitment is to provide transparent information so you are equipped to make informed decisions.
In addition to home purchase loans, I also specialize in various refinance programs. Whether you're looking to take advantage of lower interest rates or tap into your home equity through options like cash-out refinances, my aim is to help you achieve your financial goals. I recognize that refinancing can seem daunting, but I'm here to simplify the process and ensure you understand each step. My comprehensive knowledge of the different refinance options allows me to tailor solutions that best fit your financial situation.
Living and working in Chandler and Gilbert, I truly appreciate the unique qualities each city brings to the table. Chandler is a vibrant community known for its family-friendly atmosphere and excellent schools. With a variety of parks and recreational facilities, its an ideal place for families and individuals alike. The real estate market here is thriving, and I enjoy helping clients find their dream homes in this beautiful area. Whether you are looking for a cozy starter home or a spacious property, I'm here to help you navigate the Chandler housing market, ensuring you find a home that fits your lifestyle.
Gilbert, on the other hand, is renowned for its strong sense of community and dynamic growth. With a mix of suburban charm and modern amenities, Gilbert attracts a wide range of residents, from young professionals to growing families. The local economy is robust, and the housing market reflects that vitality. As a mortgage loan officer, I take pride in assisting clients in Gilbert, guiding them through the process of securing home purchase loans tailored to their specific needs. The diverse neighborhoods and homes available in Gilbert make it a fantastic place to live, and I am committed to helping you find the perfect fit.
In both Chandler and Gilbert, my approach is centered around building lasting relationships with my clients. I believe that open communication is key to a successful lending experience. My clients often tell me that they appreciate my friendly demeanor and willingness to go the extra mile to ensure they feel supported. It is this dedication to service that sets me apart and allows me to effectively assist clients in achieving their homeownership dreams in these wonderful cities. Whether you have questions about loan options or are ready to start the application process, I am here to help you realize your goals.
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A conventional loan is a type of loan that doesn't have government backing or insurance, unlike FHA, VA, and USDA loans, which are insured by the government. Conventional mortgage loans, whether conforming or non-conforming, usually require a slightly larger down payment than some government loans. However, conventional loans offer more flexibility and fewer restrictions for borrowers, especially those borrowers with good credit and steady income.
Your credit payment history is recorded in a file or report. These files or reports are maintained and sold by "consumer reporting agencies" (CRAs). One type of CRA is commonly known as a credit bureau. You have a credit record on file at a credit bureau if you have ever applied for a credit or charge account, a personal loan, insurance, or a job. Your credit record contains information about your income, debts, and credit payment history. It also indicates whether you have been sued, arrested, or have filed for bankruptcy.
On a conventional mortgage, when your down payment is less than 20% of the purchase price of the home mortgage lenders usually require you get Private Mortgage Insurance (PMI) to protect them in case you default on your mortgage. Sometimes you may need to pay up to 1-year's worth of PMI premiums at closing which can cost several hundred dollars. The best way to avoid this extra expense is to make a 20% down payment, or ask about other loan program options.
It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month. Your savings depends on your income, budget, loan amount, and interest rate changes. Your trusted lender can help you calculate your options.
An Appraisal is an estimate of a property's fair market value. It's a document generally required (depending on the loan program) by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property. The Appraisal is performed by an "Appraiser" typically a state-licensed professional who is trained to render expert opinions concerning property values, its location, amenities, and physical conditions.
Senior Home Loan Officer
Barrett Financial Group, L.L.C. | NMLS: 745375