Kelly Gleason is a Senior Mortgage Loan Officer at First Centennial Mortgage, with over 35 years of experience in the mortgage industry. She has played several roles in her mortgage career, including processing, underwriting, training, post-closing and management. Through Kelly’s experience, she has come to learn the ins and outs of the entire mortgage process, as well as how important communication is with her clients. She focuses on her clients first and assesses their needs and financial goals. With her extensive knowledge in loan programs, she is able to make the best financing recommendation to meet her clients’ needs.
Kelly offers many loan programs, including FHA, VA, USDA, Conventional, first-time homebuyer, jumbo and rehabilitation options. However, she especially excels with first-time homebuyers because of her innate level of patience. Kelly provides information to help her clients form a solid understanding of the mortgage process to build upon while they learn the basics of financing a home.
Call Kelly today to begin your home buying journey!
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Types of LoansWhich type is right for you?
First Centennial Mortgage offers a full menu of loan products. Whether you are buying your first home, moving up to a nicer home, relocating or want to refinance your current home, we have a loan that will fit your needs. To get started, contact me online or call 630.880.6286 to get in touch.
Fixed-rate home loans are the most common type of home loan in the mortgage industry. This option is low-risk and gives you predictable monthly principle and interest (P&I) payments for the next 15 or 30 years, depending on which loan term you choose. Fixed-rate loans are reliable for long-term owners ready to settle in one place for a long period of time.
An adjustable rate mortgage (ARM) is ideal for borrowers who plan to move within five years. ARMs take advantage of a low "introductory" interest rate so the loan stays at the same rate typically for 5, 7 or 10 years. Once the introductory period expires, the interest rate changes with the movement of an "index" (major interest rate). Following this movement, the amount of monthly interest either increases or decreases.
Conventional home loans are not backed by a federal agency, such as the U.S. Department of Veteran Affairs, U.S. Department of Agriculture or Federal Housing Administration. Conventional loans are idea for people with a stable job, income and good credit. Conventional home loans are more flexible in their terms and have fewer restrictions compared to government-backed products.
Federal Housing Authority (FHA) loans are government assured and are ideal for people with limited income or money for a down payment. These loans typically help first-time homebuyers, seniors or others with limits on what they can afford.
Jumbo home loans are considered non-conforming mortgages. They are for purchases with a loan value above the federal standard of $548,250, although that number varies based on location. For a home with a purchase price above this limit, a jumbo loan is needed.
Veterans Affairs (VA) home loans are a great benefit to military personnel during and after their service. These loans are partly guaranteed (typically a quarter of loan value) by the U.S. Department of Veterans Affairs.