Your Local Mortgage Lender
Located in Providence, Rhode Island
Personalized Mortgage Experience
I joined the mortgage industry in 2002 after serving overseas with the U.S. Army. Since then I have helped thousands of clients purchase or refinance their homes.
I pride myself on being accessible and dependable. Whether purchasing a new home or refinancing an existing mortgage, choosing your mortgage professional is an important step. My goal is to act as a trusted advisor, providing personalized service helping you through every step of the loan process from application to closing and beyond. From first homes to dream homes I can help you get there quicker using our Upfront underwriting and ultra-efficient process.
I am a VA loan expert and I also offer a wide portfolio of programs such as FHA, Conventional, VA, Jumbo, Renovation, First Time Homebuyer, Down payment assistance, HELOC, HEloan, Reverse, Non QM , and residential commerical loan progams.
I take pride in thoroughly educating my customers throughout the mortgage transaction, so they fully understand their options and feel comfortable with their chosen loan program. Whether you are a first time home buyer or seasoned owner, you can trust me and my team with all of your home financing needs.
Please reach out anytime using the contact information located on this page and use this website as a resource as you start your home financing journey.
The Home Loan Process
Mortgage Pre-Approval
Get pre-approved from one of our Loan Officers to see how much you can afford.
House Shopping
Work with a trusted Real Estate Agent to find a home you would like to move into.
Loan Application
Complete your home loan application to get the lending process started.
Don't take my word for it
Mortgage Programs
Experience the best mortgage experience located in Providence, Rhode Island}.
Home Loan Options
Our experienced mortgage advisors will walk you through the best mortgage loan program that will fit your specific scenario.
Conventional Home Loans.
FHA Home Loans.
USDA Home Loans.
VA Home Loans.
Frequently Asked Questions
How often can I refinance my mortgage?
There is no limit to the number of times you can refinance. However, you must qualify every time you apply and there will be costs associated with closing the loan each time.
Can I buy a home if I do not have money for a down payment?
Yes! There are a number of bond programs that offer low or no down payment financing options.
How do I know which mortgage is right for me?
The key to choosing the right mortgage is to understand the range of options and features available to you, as well as your budget, circumstances, and goals. Our licensed mortgage professionals are here to help you navigate that process. The more you know, the more comfortable and confident you will be choosing the best option for you and your family.
How long will the loan process take?
The Truth in Lending Act (TILA) does not permit a lender to close a loan until at least seven (7) business days have passed from the date your application was received. A typical home loan takes 30 days, as a number of third-party services such as appraisals, title work, and credit are required in conjunction with the mortgage process. Once you familiarize your Loan Officer with the details of your specific loan scenario, they will be able to provide you with a more specific timeline.
Will I qualify for a home loan?
The only way to find out is to speak with a qualified mortgage professional. Our Loan Officers have helped numerous clients who didn’t know if they could qualify to become home owners. We take the time to understand your financial situation and long-term financial goals, and then match you with the loan program that best fits your needs. Your approval for a loan may also largely depend on the price of the home you are financing. Getting pre-qualified prior to beginning your home search can give you an idea of what you may be able to afford.
Why do people refinance their mortgages?
Homeowners typically refinance to save money, either by obtaining a lower interest rate or by reducing the term of their loan. Refinancing is also a way to convert an adjustable loan to a fixed loan or to consolidate debts.
How much money will I have to pay upfront to buy a home?
This question does not have a simple, one-size-fits-all answer. The exact amount will depend on the price of the home you buy as well the type of mortgage financing you choose. Depending on your loan program, your down payment could be as much as 20% of the home’s price or as little as 3%, while some loans require no down payment at all.
Can I get a mortgage after bankruptcy?
You may still qualify for a home loan even if you have experienced a bankruptcy. The best way to find out if you qualify is to talk with a Loan Officer to discuss your options. Be sure to bring all paperwork regarding your bankruptcy so your Loan Officer can find the program that best fits your situation.
Should I lock my interest rate now, or wait until we are closer to our closing?
Interest rates fluctuate all day, every day. If an interest rate is good, it may be in your best interest to lock now. If you wait, you run the risk of an increase in rates later. If you are concerned that rates may go down after you lock, contact your Loan Officer to discuss your options. Some programs allow you to lock for an extended period and choose to lower your rate should a better one become available.
Most Recent Blog Updates
VA Loan Sellers Can Pay Up to 4 Percent in Concessions and Most Veterans Never Know to Ask
VA Loan Sellers Can Pay Up to 4 Percent in Concessions and Most Veterans Never Know to Ask
The VA Loan Advantage That Goes Well Beyond Zero Down Payment
Most veterans who know about the VA loan know about the zero down payment benefit. Fewer know about the seller concession rules that can dramatically reduce the cash a veteran needs to bring to closing and in some cases eliminate it almost entirely.
This is one of the most underutilized and most impactful features of the VA loan program and it is worth understanding clearly before you start house hunting.
How VA Seller Concessions Work
Most homebuyers know that sellers can agree to cover some of the buyer's closing costs as part of a negotiated transaction. That is a standard feature of most loan programs and it is commonly used in markets where sellers have motivation to make deals happen.
VA loans take this a significant step further. With a VA loan sellers can pay all of the veteran's normal closing costs plus additional seller-paid concessions of up to 4 percent of the purchase price on top of that. The 4 percent concession allowance is separate from and in addition to the standard closing cost contribution and it can be used for a range of purposes that go well beyond simply covering loan fees.
What That 4 Percent Can Actually Be Used For
As Keith Calabro explains as a military veteran and VA loan specialist this is where the concession structure becomes genuinely powerful for veterans who understand how to use it.
The VA funding fee which is a required government fee on most VA loan transactions can be paid by the seller using the concession allowance. On a first-use VA loan the funding fee represents a meaningful upfront cost and having the seller cover it eliminates that obligation from the veteran's cash requirement entirely.
Collections and judgments that appear on the veteran's credit report and that would otherwise need to be paid before closing can be paid by the seller using the 4 percent concession. This is a strategy that can resolve credit issues that might otherwise complicate or delay the loan approval process.
Temporary or permanent rate buydowns can be funded by the seller using the concession allowance. A seller-funded rate buydown reduces the veteran's monthly payment for a defined period or for the life of the loan depending on the structure chosen. That monthly payment reduction can be substantial and it directly improves the veteran's long-term affordability in the home.
Credit card debt and other loan balances can be paid off at closing using seller concessions. Paying off existing debt at closing accomplishes two things simultaneously. It reduces the veteran's monthly obligations which improves the debt-to-income ratio and it can either help the veteran qualify for financing they might not have otherwise qualified for or help them qualify for a larger loan amount that better matches the home they actually want to buy.
What This Looks Like in Dollar Terms
On a $500,000 home purchase the 4 percent concession allowance represents up to $20,000 in additional seller contributions above and beyond normal closing cost coverage. That is a significant sum that can be directed toward any combination of the purposes above based on what produces the greatest benefit for the individual veteran's financial situation.
In markets where sellers are motivated to make deals happen and where concession requests are a realistic and regularly negotiated outcome the VA concession structure gives veteran buyers a tool that no other loan program provides at the same level.
Have This Conversation Before You Start House Hunting
The key insight Keith Calabro wants every veteran to take from this is timing. Understanding the full scope of what seller concessions can accomplish with a VA loan before you start house hunting allows you to build that strategy into every offer from the beginning rather than discovering it after the fact.
Keith Calabro is a military veteran and VA loan specialist who works with veterans to build purchasing strategies that capture every available dollar of benefit the VA loan program makes possible. Reach out to Keith Calabro before you start house hunting to find out how to structure your approach and save thousands of dollars at closing. Follow along for more VA home loan tips and guidance built specifically for those who have served.
Sources
VA.gov
MilitaryOneSource.mil
ConsumerFinancialProtectionBureau.gov
MortgageNewsDaily.com
NAR.realtor
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