Entries by Steve Furlong

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MN Mortgage Approval Types and Process: An Overview

Introduction When applying for a mortgage in MN, there are a number of approval processes that prospective borrowers should be aware of. It is essential that future borrowers understand the information/documentation required for each mortgage approval process in addition to the level of scrutiny that will be applied with each approval process. We will discuss […]


Remodeling financing

Several options are available for construction financing. The first option is a new first mortgage intended for rehabilitation finance – the programs are called HomeStyle and 203k, are offered by Fannie Mae and FHA, respectively, and allow up to 97% of the as-completed value of your home in total financing. The benefits to these programs […]

Unfreezing Your Credit Report

Frozen credit should be “unfrozen” before you submit a loan application. This can be done easily by calling the three credit repositories here: Experian: 888-397-3742 Equifax: 888-298-0045 Transunion: 888-909-8872 Equifax also has an online system on their website at www.trustedid.com, as does Transunion at freeze.transunion.com.

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Mortgage Underwriting Tidbits

Mortgage programs are becoming more flexible for different scenarios.  Although guidelines are strict and offer little variance from the rules, at least we are starting to see rule changes.  Some of these may help you get approved for a loan when you couldn’t before.  Others might present obstacles.  Let’s take a look at a few […]