Billy Burns

Vice President of Mortgage Lending
115 Adelaide Street, Elmhurst, IL 60126
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NMLS: 217320
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"My wife and I are first time home buyers and we worked with Billy Burns and his team at Guaranteed Rate on our mortgage. They really made our experience a positive one. Billy was very supportive throughout the process and was very responsive to any questions or concerns that we had. Billy also did a great job in getting our closing costs down as much as possible. He even sent us a pair of movie tickets to help relieve some of the stress of home-buying! If you are looking for a mortgage broker,...

Yangzhi Z. -- Chicago, IL -- 9/2014

"Billy Burns is hands down one of the best! He was awesome to work with and knows what he is talking about. He understands the worries that his customers go through and is all about managing expectations and creating transparency around the process. For anyone thinking of buying a home, Billy is your guy! He is rock solid, with a great work ethic and an incredible willingness to help customers out."

Diego G. -- Chicago, IL -- 9/2014

The other members of his team were also very helpful with anything else that I needed.  Contact between everyone was very quick and they were all very helpful.  I would definitely recommend Billy Burns and his staff to anyone looking for a mortgage!

Kyle K. -- Crestil Hill, IL 9/16/2014

Billy really made sure I understood everything and always called when I needed help or had a question. He was super friendly and helpful! 

Abigail P. -- 8/31/2014

“Billy Burns was extremely helpful throughout the process. We got everything done in a very short time period. He was even able to get the mortgage ready for closing on a very short time table without any major delays. I would definitely recommend Billy and Guaranteed Rate to anyone looking to buy a home!”

Jimmy L. – Chicago, IL – 7/2014

Billy was extremely helpful throughout the process. We got everything done in a very short time period. He was even able to get the mortgage ready for closing on a very short time table without any major delays. I would definitely recommend Billy and GR to anyone looking to buy a home!

James L. -- Chicago, IL 6/30/2014

I am very satisfied with the experience that I had with Guaranteed Rate! Billy was cooperative and very quality-oriented! He made the process much smoother than I was anticipating.

Matthew B. -- Chicago, IL 4/23/2014

“Billy Burns from Guaranteed Rate was fantastic! He went over each and every page of the loan documents and explained to me what and why I was signing. He made me feel very comfortable during the process, which was reassuring compared to my previous experience. Billy was able to give me the best deal along with low closing costs. He was upfront about everything! He answered almost all of my calls or called me back within 15 minutes! His team was also very friendly. I would definitely recommend...

Katelyn S. – Batavia, IL – 4/2014

Awesome, Billy is very good at what he does. I was a first time home buyer and he was so good about taking the time to meet with me and really walk me through the process.

Ramona I. -- Chicago, IL 3/20/2014

Billy Burns and his team did our loan in a little over three weeks start to finish. The appraisal report didn't come in until the morning of the closing, and we had our final approval by noon. I couldn't be more pleased with our experience. We got an excellent rate and superior service.

Michael M. -- Chicago, IL, 2/10/2014

“After waiting six months on a short sale, the lending bank suddenly decided to accept our offer but gave us a four-week deadline to secure financing. Billy Burns and his team got our loan secured at a great rate and a good price. After problems turned up with the previous owner not wanting to allow access to the property for the appraiser, Billy completed the final approval the morning of the closing at the absolute last minute. Their hard work really paid off for us. I'd recommend them to...

K.G. – Chicago, IL – 2/2014

Hey, check out this amazing review from Reddy about Billy! “Wow, these guys rock! I first went to a traditional bank in order to obtain a preapproval mortgage. After having multiple appointments canceled on me I decided to look for a good mortgage broker. My realtor friend recommended me to Billy Burns. I have worked with Billy and Megan Hanley…trust me, they are super good! They are fast, efficient and on time. They will definitely help you get the best rate. I am extremely happy and...

Reddy G. -- Chicago, IL – 6/2013

Hey, check out this amazing review from Emily about Billy! “We used Billy Burns as our mortgage broker for the purchase of our first house -- his customer service really is extraordinary. He was always available and walked us through each step towards what was admittedly a very complicated closing process. There was even an issue following closing, of which I contacted Billy and he took care of it immediately. He knows the business, knows what he is doing and can walk you through it all! ...

Emily E. -- Aurora, IL – 6/2013

Hey, check out this amazing review from Jim about Billy! “A friend recommended me to Billy Burns. He was professional and honest from day one. The best part was that he refinanced my townhouse with zero down! I am now saving over $375 a month on my new mortgage payment. It all seemed too good to be true, but it was true! I highly recommend Guaranteed Rate!”

Jim M. – Naperville, IL – 6/2013

Hey, check out this amazing review from Matt about Billy! “My experience with Guaranteed Rate, and specifically Billy Burns, was quick, easy and painless! They gave me several different options based on my refinancing needs/wants and were able to get me the best rate. They were also able to cover most of the closing costs which was far beyond what other "big banks" were offering. I have already recommended Billy Burns and Guaranteed Rate to my friends and family!”

Matt B. – Chicago, IL – 5/2013

Hey, check out this amazing review from Rene about Billy! “A friend of mine from Edwards Jones highly recommended Billy Burns. In the beginning, it all sounded too good to be true but my experience proved otherwise! Billy was excellent at answering all questions and concerns. He worked with us throughout our entire process to make sure we were 100% satisfied. Thank you, Billy!”

Rene C. – Carol Stream, IL – 4/2013

Hey, check out this amazing review from Brad about Billy! “I am a broker in the downtown area and I have given every client of mine the option of Billy Burns with Guaranteed Rate, and will continue to do so. His customer service outshines any mortgage broker I have dealt with in the city! He educates each client and walks them through the loan process as if they were his own friends or family. If you're wondering which mortgage broker to use, do yourself a favor and ask for Billy. He has...

Brad R. – Chicago, IL – 5/2013

Hey, check this amazing review from Ashish about Billy! “It is really hard to describe the amazing experience I had working with Billy Burns from Guaranteed Rate. He answered all of my questions even after office hours. We even closed within 3 weeks. Billy and his team delivered results and crossed all major milestones. We received the cheapest, fastest and most customer-friendly service! I highly recommend Billy and his team to all!!”

Ashish G. – Lemont, IL – 6/2013

Hey check out the amazing review from Srikanth about Reddy! “Billy went above and beyond for us, getting us an extension on our loan without an additional charge, and we really appreciate his help throughout the process. We got locked in with a very low interest rate and were extremely satisfied! Thanks Billy!”

Srikanth R. -- Chicago, IL-- 03/2013

Wrapped up my mortgage with Billy Burns from Guaranteed Rate. If you need mortgage help get with him. Great guy, honest and detailed!

Chris C.

Many many thanks for getting me through this refinance process. Not only did I get a great rate and a savings in my monthly mortgage costs, I had the opportunity to work with solid professionals like you. The amount of document collection and verification of funds and payment history along with timing and project management is daunting to say the least. I don’t know how you keep it all straight. If I hear of anyone looking to refinance you know I will refer your team with high praise.

Carla C., Chicago, IL

Everything went great...we were first time home buyers and we felt like Billy Burns and his team was just working for us. Every time we had a question about anything we got an immediate response or call back. They supplemented us with all the proper requests on documentation. I am very pleased with how everything went and would definitely use Guaranteed Rate again for a new home purchase or re-financing. And, I already have recommended you to friends and family.

Giovanni O. - Lockport, IL 9/2012

About Billy


Billy interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I have been in the mortgage business for 6 years. When I first got into the industry there was a lot of fear and concern about the economy and where mortgage lending was heading. I found this to be a great opportunity to get into the home lending industry and inform first time home buyers along with all other purchasers about the ever changing process. I feel that by properly educating the borrowers about the process today will ensure a pleasant experience.
Who is your typical customer and what questions do they typically have?
I handle customers that are out looking at homes for the first time ever. Along with home buyers looking to upgrade to a multimillion dollar home. The questions all seem to be the same. "How long will this take" along with "how does the process work today". I answer both questions the same. I explain the entire financing process to them from getting approved and looking at homes, all the way through making their first mortgage payment. If the clients are willing to work with myself and my amazing team by getting all required docs in on time. Then getting the deal to close on time is never an issue. This is why proper education up-front is key, along with open lines of communication.
What specific steps do you use to help your customers find the best home loan for them?
It is important that the client fully understands all home financing options available to them per their credit score, income and down payment. Once this information is provided I will show my clients all of the home financing programs that they are approved to purchase a home. From there I again educate the buyer on all of the pros and cons of each program. I feel it is best for the home buyer to select the program that best fits their desires for future purposes. A good example maybe a borrower getting a loan with a slightly higher rate, but have the lender prepay mortgage insurance if they are putting less than 20% down. FHA rates maybe lower, but if the client is looking to have the lowest payment and move before the Loan-To-Value reaches a point to which PMI is removed. Then there is no point in getting the lower rate, yet paying more over the short time period in the property.
How has the mortgage industry changed since you started, and what would you expect in the future?
When I first got into the industry. State Asset/Stated Income loans were available for borrowers. These loans are no longer available and underwriting guidelines have gotten tighter. This is why it is extremely important to work with a lender that will always return phone calls and e-mails promptly. This allows the borrower time to get required docs requested from underwriting along with alleviating stress in a process that can be stressful yet exciting as it is.
What part of the home loan process do customers find most difficult and how do you help them through it?
The number 1 thing most buyers find most difficult is finding the right lender to work with. It is extremely important to understand how the process works from beginning to end along with understanding the fees involved from the Good Faith Estimate. Many lenders try to simply inform the client that the process is easy and all fees are customary. When in fact many lenders may add in additional fees not needed or fail to communicate with the borrower during the transaction, thus making the process strenuous. I pride myself on always being available, along with being extremely transparent about the cost involved.
Summary of where you grew up: family, affiliations, college, high school, etc.
I grew up in Joliet IL where I attended Joliet Catholic Academy. After high school I went on to play football at Western Illinois University. I learned how to properly communicate and work with others from my playing experience. I also learned that there is always a way to get things done. I have taking this mind frame and applied it to my profession of mortgage banking by always getting my borrowers into their home or refinancing their current loan. I always make sure and complete the job so that my borrowers can attain their goals of owning a new home.
Tell us something that makes you unique or something wacky, yet interesting about you?
I am a very social person. I love spending my time with my wife and daughter along with all of our family and friends. I currently live in the Fox Valley area, so I always do my best to get out on the Fox River. If not on the river then I love to be up in the North Woods of Wisconsin. In my spare time at home, I love doing Crossfit and golfing.

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