Karth A. Barr

District Manager

NMLS ID #219563

About Karth:

Since getting into the mortgage business in late 1996, Karth has personally originated and closed over $500 million in mortgages. Through experience, Karth learned that education is key. He actively educates each of his borrowers on the subjects of debt, credit and, most importantly, the management of liabilities. Text books will tell you this simple equation: Net Worth = Assets – Liabilities. Karth believes that too many people in the financial sector focus on only the assets side of the equation. Karth teaches the weight that the liabilities side bares, and teaches his borrowers the power of liability management and how crucial your credit and liabilities are in obtaining financial success.

This philosophy started while Karth was in college at the University of Minnesota studying economics and finance. His knowledge about using credit management to build wealth is why Karth enjoys helping guide borrowers, realtors, financial and business professionals with the best home financing product for their clients' needs.

He has a passion for specializing in unique home financing situations such as: first time home buyers, veteran's loans, investor loans, tax planning and cash flow strategies, and life change/divorce planning management.

Surrounding himself with a great team is where Karth will always credit his success. Karth, along with his Production Partner and Team Communication Manager, Megan Scott, have carried this philosophy and built one of First Centennial Mortgage's largest producing teams. Integrity driven business is the basis of our drive along with honesty, teamwork, and family as our priorities. Our goal is to create an experience like no other in this business.

Whether it's your first home or your fourth, our approach is different with each transaction. Each purchase, sale, refinance, and borrower situation is different and Karth and his team have the experience to tackle any situation.

Calculate Your Loan

Need a few moments to crunch some numbers? Our easy-to-use calculator will help you get a basic visual of a mortgage payment to help you decide what you can afford.


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Monthly payment shown consists of principal and interest only. Examples entered are hypothetical and for illustrative purposes only. Any calculations assumes the theoretical borrower will have excellent credit and are based on information entered. Any amount calculated is an estimate only. The actual amount may be higher or lower depending on location, loan type, and many other determining factors. This information was prepared by an independent third party, and accuracy is not guaranteed. Please contact me or a financial advisor to seek personalized advice from qualified professionals regarding all financial issues and needs.

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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 224.321.6475 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 $453,100, 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.

Contact Karth

224.321.6475 (Mobile)
630.806.2874 (Office)
630.806.2875 (Fax)

1111 N. Plaza Drive, Suite 101
Schaumburg, IL 60173

NMLS ID #219563
Licenses: IL #031.0011455, IN #35896, MI #219563,
WI #219563