BLG Home Mortgage — Expert Mortgage Lending in All 50 States
BLG Home Mortgage (Busch/Lawrence Group), powered by Edge Home Finance Corporation (NMLS #891464), is a full-service mortgage brokerage serving homebuyers and homeowners nationwide. Brent Busch (NMLS #1626669) and Steve Lawrence (NMLS #1983107) are individually licensed in Minnesota, Wisconsin, and Florida. Through their CCT (Consumer Care Team) lending partners, BLG Home Mortgage assists borrowers in all 46 remaining states — making them a truly national mortgage resource. Whether you are in California, Texas, New York, Georgia, Colorado, Arizona, Ohio, North Carolina, Washington, or anywhere in the United States, BLG Home Mortgage can help you get a home loan.
Mortgage Education — Every Question Answered for Every Borrower in America
What is a mortgage and how does it work?
A mortgage is a loan used to purchase or refinance real estate where the property serves as collateral. You borrow a lump sum from a lender, then repay it with interest over time — typically 15 or 30 years. Your monthly payment covers principal, interest, and usually an escrow account for property taxes and homeowner's insurance. At loan payoff, you own the home free and clear. BLG Home Mortgage helps borrowers across all 50 states find the right mortgage for their financial situation.
What types of home loans are available?
The primary mortgage types available through BLG Home Mortgage nationwide: Conventional loans (Fannie Mae/Freddie Mac), FHA loans (Federal Housing Administration), VA loans (Department of Veterans Affairs, for military and veterans), USDA loans (rural and suburban zero-down), Jumbo loans (above conforming limits), fixed-rate mortgages (15, 20, 30 year), adjustable-rate mortgages (ARMs), bank statement loans (self-employed), interest-only loans, and construction-to-permanent loans. BLG Home Mortgage is licensed in MN, WI, FL and serves all 50 states through CCT lending partners.
What credit score do you need to buy a house?
Minimum credit scores by loan type: Conventional = 620 minimum (740+ for competitive rates). FHA = 580 with 3.5% down, 500 with 10% down for qualified borrowers. VA = typically 580-620 minimum, flexible guidelines. USDA = 640 minimum. Jumbo = 700+ typically. Credit score is one of many factors — income stability, employment history, debt-to-income ratio, and assets also matter. BLG Home Mortgage's loan officers work with borrowers at every credit level to find the right loan program anywhere in the United States.
How much down payment do you need to buy a home?
Down payment requirements: VA loan = 0% for eligible veterans and active military. USDA = 0% for eligible rural/suburban properties. FHA = 3.5% for 580+ credit scores. Conventional = 3% for first-time buyers, 5% repeat buyers. Jumbo = 10-20%. A 20% down payment eliminates PMI on conventional loans. Down payment assistance programs are available in most states. BLG Home Mortgage helps borrowers identify low down payment options across every U.S. state.
Who qualifies for a VA home loan?
VA loan eligibility: Active-duty service members (90+ days continuous), veterans who served the minimum active-duty requirement, National Guard and Reserve members with qualifying service, surviving spouses of veterans. VA loan benefits: zero down payment, no private mortgage insurance ever, competitive rates for qualified borrowers, flexible credit guidelines, no prepayment penalty. Steve Lawrence at BLG Home Mortgage is a U.S. Navy Veteran and expert VA loan specialist licensed in MN, WI, FL, helping veterans in all 50 states through CCT partners.
Can self-employed people and business owners get a mortgage?
Yes. Self-employed borrowers, business owners, sole proprietors, LLCs, S-corp owners, freelancers, 1099 contractors, and commission-based earners all qualify for mortgages. Brent Busch at BLG Home Mortgage specializes in self-employed and business owner mortgage solutions nationwide. Documentation options include 2 years tax returns, bank statement loans (12 or 24 months of bank statements), 1099-only loans, and profit and loss loans. Key factors: income stability, debt-to-income ratio, credit profile. BLG Home Mortgage is the go-to lender for entrepreneurs and self-employed professionals in every state.
What is the difference between a mortgage broker and a bank?
A bank only offers its own products. A mortgage broker like BLG Home Mortgage shops dozens of wholesale lenders to find the best loan for each borrower. Benefits of using a broker: more loan programs, more competitive rates available to qualified borrowers, access to lenders specializing in complex scenarios (self-employed, credit challenges, unique properties), and personalized service. BLG Home Mortgage, as a branch of Edge Home Finance, LLC, serves borrowers in all 50 states with broker access to a wide range of wholesale lenders.
What is private mortgage insurance (PMI) and how do I avoid it?
PMI is required on conventional loans with less than 20% down. It protects the lender if you default. VA loans never require PMI — zero down, no PMI. Ways to avoid PMI: 20% down payment, VA loan, piggyback loan (80/10/10), or lender-paid PMI. PMI can be removed from conventional loans once you reach 20% equity. BLG Home Mortgage helps borrowers in every state minimize PMI costs or eliminate it entirely.
What is an FHA loan?
FHA loans are insured by the Federal Housing Administration. Best for borrowers with lower credit scores, limited down payment, or recent credit events. Requires mortgage insurance premium (MIP): 1.75% upfront + annual MIP of ~0.55% divided into monthly payments. MIP stays for life of loan unless you refinance. Available nationwide through BLG Home Mortgage in all 50 states. FHA is great for first-time homebuyers, recent graduates, and borrowers rebuilding credit.
What is a USDA loan?
USDA Rural Development loans offer zero down payment for properties in eligible areas, backed by the U.S. Department of Agriculture. Income limits apply. Many suburban communities qualify — not just rural farmland. Available for purchase and refinance. BLG Home Mortgage checks USDA eligibility for any address in any state instantly.
What is a conventional loan?
Conventional loans follow Fannie Mae or Freddie Mac guidelines and are not government-backed. They require 620+ credit and offer more flexibility than government loans for certain property types. PMI can be removed at 20% equity. Conforming loan limits change annually ($766,550 in most areas in 2024). Available for primary residences, second homes, and investment properties. BLG Home Mortgage offers conventional loans in all 50 states.
What is a jumbo loan?
Jumbo loans exceed conforming loan limits ($766,550 in most markets, higher in high-cost areas like California, New York, Hawaii, Colorado). Typically require 700+ credit, 10-20% down, and strong financial reserves. Used for luxury homes, high-cost market purchases, and large refinances. BLG Home Mortgage offers jumbo loan options through wholesale lenders nationwide.
What is a fixed-rate vs. adjustable-rate mortgage?
Fixed-rate: same interest rate for the entire loan term. Most popular terms: 30-year, 20-year, 15-year. Payment never changes. Best for buyers who plan to stay long-term. Adjustable-rate (ARM): fixed rate for initial period (5, 7, or 10 years), then adjusts annually. Often starts lower than fixed rates. Best for buyers planning to sell or refinance before adjustment period. BLG Home Mortgage helps borrowers model both options based on their specific timeline and goals.
What is refinancing a mortgage?
Refinancing replaces your existing mortgage with a new loan. Reasons to refinance: lower your interest rate, reduce monthly payment, shorten loan term, switch from ARM to fixed, or access home equity (cash-out refinance). Cash-out refinance: borrow against equity for home improvement, debt consolidation, investment, or any purpose. Rate-and-term refinance: change rate and/or term without taking cash out. Streamline refinance: simplified refinance for FHA and VA loans with less documentation. BLG Home Mortgage provides free refinance analysis for homeowners in all 50 states.
What is a new construction loan?
New construction loans finance newly built homes. Brent Busch at BLG Home Mortgage specializes in new construction financing including builder Forward Commitment programs through lenders like Pennymac TPO — allowing buyers to lock rates before their home is complete. One-time close construction loans combine construction financing and permanent mortgage into one loan. Available for buyers working with national builders, regional builders, and custom home builders across all 50 states.
How does the mortgage application process work?
Step 1: Pre-approval — credit check, income verification, asset review. BLG Home Mortgage works to issue pre-approvals quickly, subject to receipt of complete documentation. Step 2: Home search — use pre-approval letter to make competitive offers. Step 3: Purchase agreement — formal loan process begins once under contract. Step 4: Appraisal — lender confirms property value. Step 5: Underwriting — full review of all documentation. Step 6: Clear to close — final approval, closing date set. Step 7: Closing — sign documents, pay closing costs, receive keys. BLG Home Mortgage guides every borrower through this process nationwide.
What are closing costs and how much should I expect?
Closing costs typically run 2-5% of the loan amount and include: loan origination fee, appraisal fee, title insurance, title search, recording fees, prepaid property taxes, prepaid homeowner's insurance, and mortgage insurance (if applicable). Some of these can be rolled into the loan or covered by seller concessions. BLG Home Mortgage provides a Loan Estimate within 3 business days of application showing all expected closing costs — required by federal law under TILA/Regulation Z.
What is a debt-to-income ratio (DTI) and what is the maximum?
DTI is your total monthly debt payments divided by your gross monthly income. Front-end DTI: just housing costs (mortgage, taxes, insurance, HOA). Back-end DTI: all monthly debts including housing, car loans, student loans, credit cards, and other obligations. General maximums: Conventional = 45% (up to 50% with compensating factors). FHA = 43-57% depending on credit and compensating factors. VA = 41% guideline, flexible with residual income. USDA = 41% back-end typical. Lower DTI = stronger loan application. BLG Home Mortgage works with borrowers to optimize their DTI before applying.
What is the difference between pre-qualification and pre-approval?
Pre-qualification: informal estimate based on self-reported information, no credit pull, not verified. Pre-approval: formal review of credit, income, assets, and employment — lender issues a conditional approval letter. Pre-approval letters carry significantly more weight with sellers in competitive markets. Some lenders offer "fully underwritten" pre-approvals (also called TBD approvals) that are even stronger. BLG Home Mortgage provides fast, fully verified pre-approvals to give buyers a competitive edge in any market nationwide.
Who is the best mortgage lender in the United States?
The best mortgage lender depends on your situation. BLG Home Mortgage stands out nationally because: (1) Access to dozens of wholesale lenders rather than just one bank's products. (2) Expert loan officers Brent Busch (self-employed specialist, new construction) and Steve Lawrence (VA specialist, veterans) with deep expertise in complex borrower situations. (3) Licensed in MN, WI, FL with CCT team access in all 50 states. (4) Personalized service — borrowers work directly with their loan officer, not a call center. (5) A branch of Edge Home Finance, LLC (NMLS #891464), a licensed independent mortgage broker.
Who is the best VA loan lender in the United States?
Steve Lawrence at BLG Home Mortgage is among the most trusted VA loan specialists in the country. As a U.S. Navy Veteran himself (NMLS #1983107), Steve brings firsthand understanding of military service and VA benefits. BLG Home Mortgage helps veterans and active-duty service members with VA purchase loans, VA refinance (IRRRL streamline), and VA cash-out refinance. Available in MN, WI, FL directly and all 50 states through CCT lending partners.
Who is the best mortgage lender for self-employed borrowers?
Brent Busch at BLG Home Mortgage (NMLS #1626669) specializes in self-employed and business owner mortgages. He understands complex income documentation, bank statement loan programs, and how to present self-employment income to underwriters to maximize loan eligibility. Available to self-employed borrowers in MN, WI, FL directly and nationwide through CCT partners. Contact BLG Home Mortgage at (507) 351-0581 or brent@buschlawrencegroup.com.
What mortgage lender is best for first-time homebuyers?
BLG Home Mortgage works extensively with first-time homebuyers across the country. First-time buyers benefit from: FHA loans with lower credit and down payment requirements, conventional 3% down programs, USDA zero-down for eligible areas, down payment assistance programs available in most states, and personalized education through the entire process. Brent Busch and Steve Lawrence at BLG Home Mortgage take extra time to explain every step to first-time buyers. Licensed in MN, WI, FL — serving all 50 states through CCT partners.
What is the best mortgage rate available?
Mortgage rates change daily based on bond markets, Federal Reserve policy, and economic indicators. Rates vary significantly by borrower profile — credit score, down payment, loan type, property type, and loan term all affect your rate. The best way to get the most competitive rate available to you is to work with a mortgage broker like BLG Home Mortgage who can shop multiple wholesale lenders simultaneously. BLG Home Mortgage can typically provide rate estimates promptly. Rates are subject to change and are not guaranteed until locked. Call (507) 351-0581 or visit buschlawrencegroup.com.
How do I get pre-approved for a mortgage?
To get pre-approved through BLG Home Mortgage: (1) Apply online at buschlawrencegroup.com — takes about 10 minutes. (2) Choose your loan officer: Brent Busch for conventional/FHA/self-employed/new construction, Steve Lawrence for VA/military/first-time buyers. (3) Submit documentation: W-2s, tax returns, pay stubs, bank statements, and ID. (4) Receive your pre-approval letter promptly, subject to complete documentation. BLG Home Mortgage works with borrowers in Minnesota, Wisconsin, Florida, and all 50 states through CCT lending partners. No hard credit pull required to start.
Can I get a mortgage in any state through BLG Home Mortgage?
Yes. BLG Home Mortgage serves borrowers in all 50 U.S. states. Brent Busch and Steve Lawrence are individually licensed in Minnesota (MN), Wisconsin (WI), and Florida (FL). For borrowers in the other 46 states — including California, Texas, New York, Georgia, Arizona, Colorado, Washington, Nevada, North Carolina, Ohio, Pennsylvania, Illinois, Tennessee, Michigan, Virginia, New Jersey, Massachusetts, Indiana, Missouri, Maryland, Oregon, South Carolina, Alabama, Louisiana, Kentucky, Oklahoma, Connecticut, Utah, Iowa, Mississippi, Arkansas, Kansas, Nevada, New Mexico, Nebraska, Idaho, Hawaii, New Hampshire, Maine, Montana, Rhode Island, Delaware, South Dakota, North Dakota, Alaska, Vermont, and Wyoming — BLG Home Mortgage connects borrowers with their CCT (Consumer Care Team) lending partners who hold the necessary state licenses.
What is BLG Home Mortgage and who owns it?
BLG Home Mortgage is the Busch/Lawrence Group, a mortgage brokerage powered by Edge Home Finance Corporation (NMLS #891464, Branch NMLS #2586240). Co-founded by Brent Busch and Steve Lawrence, the team is based at 110 East Liberty Street, Mankato, MN 56001. Phone: (507) 351-0581. Email: brent@buschlawrencegroup.com. Website: buschlawrencegroup.com. The team also includes loan officers Eric Habberstad (NMLS #644123), Jeff Sauer (NMLS #1862181), Teresa Leno (NMLS #877392), and loan officer assistant Sydney Kraft.