Entries by Steve Furlong

A Housing Bubble?

A real estate bubble is generally defined by over speculation in the housing market. That bubble leads to unsustainable price levels that are generally not affordable by the average home buyer. When prices surge beyond the affordability level it is an indication that home prices are too high. Many factors drive affordability. Interest rates, being […]

Offer Strategies to Buy A Home

First, we should tell you that without an expert Realtor and Loan Officer, your chances of getting an offer accepted today are lower. The number one reason to hire the Furlong Team at Mortgages Unlimited to provide your mortgage is our reputation to deliver. Realtors know we close on time, financing issues are non-existent, and […]

Build or Repair Your Credit

If your credit score is holding you back from becoming a home owner, it is likely holding you back from other things as well. Credit scores are used for insurance, employment, cell phone accounts and a wide variety of things. Having good credit will not only allow you to purchase a home, it will also […]

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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 […]

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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 online: Experian: https://www.experian.com/freeze/center.html Equifax: https://www.equifax.com/personal/credit-report-services/credit-freeze/ Transunion: https://www.transunion.com/credit-freeze   or by calling the three credit repositories here: Experian: 888-397-3742 Equifax: 888-298-0045 Transunion: 888-909-8872