Jim Cahill Mortgages NMLS #272459

08/17/2026

Two weeks ago today, I received a purchase application for a transaction that fell apart at another lender for a myriad of reasons. They had already missed the initial closing date and needed to close ASAP. There were backup offers and it was imperative that we needed to execute in a timely fashion--or in this case as fast as federal regulations permit. I restructured the file from the ground up and within 4 days I had a clear to close from underwriting and we closed last Wednesday, a mere 9 calendar days from the application date. Special thanks for in order for Lisa Scheldt of Stone Arch Title for getting the title work to me within 24 hours and handling a closing with unique circumstances! Special thanks to Michele Meredith with the Huerkamp Home Group of Keller Williams Preferred Realty for the opportunity to serve your clients!
Who you work with matters.
Jim Cahill
Edge Home Finance, LLC
612-201-3685
[email protected]
NMLS #272459
Company NMLS #891464 See less

07/15/2026

I recently closed a purchase transaction for clients that were turned down by a well-known local mortgage lender. The reason: They didn't like that he had 2 significant job gaps in the past 24 months. After putting an accurate employment timeline together and asking the right questions with the client himself and also the past employer, I realized that the second job gap was indeed due to circumstances beyond the client's control. The second job gap was completely justified and he was able to write a compelling letter of explanation so that underwriting approved the loan!

Here is the moral of the story: Every client has a unique story to tell, and it's my responsibility to ask the right questions and align them with the appropriate lender. With access to well over 100 lenders, there are very few scenarios that I can't work with. This loan was roughly $100,000, but they deserve as much time and focus as a $1,000,000 transaction. Who you work with matters.

Jim Cahill
Edge Home Finance LLC
NMLS #272459
Company NMLS #891464
[email protected]
612-201-3685

Call now to connect with business.

02/24/2026

https://www.foxbusiness.com/economy/american-homebuyers-gain-most-purchasing-power-since-2022

Homebuyers' purchasing power rose over $30,300 in past year as median-income households can now afford $331,483 homes with mortgage payments 8.4% lower than last year, Zillow found.

08/16/2025

Homebuyers, especially move-up buyers, have mentioned 3 things to me this year:

1. They don't want to pay 7% rates.
2. They don't want to take 30 years to pay off their home.
3. They are frustrated by the lack of seller paid closing costs/concessions and are reluctant to ask for concessions due to the competitive market.

On August 4th, the average 30 year fixed rate was 6.74% per Bankrate. On August 4th, I locked a move-up buyer on a 20 year fixed at a note rate of 6.125% with an APR of 6.133%. The loan amount was $540,000.

But it gets better. On this scenario, I was able to give a lender credit of 2.03% of the loan amount ($10,962) to cover all of the non-recurring third party closing costs, and even a part of the new escrow account! I was able to do all this without the need to ask for seller paid closing costs.

The biggest benefit is that when compared to a traditional 30 year term, the payment shock is minimal:
$540,000 @ 6.625% (6.74% APR) has a payment of $3,457.68
$540,000 @ 6.125% (6.133% APR) has a payment of $3,907.77
This is a payment increase of just $450.09, and your home is paid off 10 years earlier!

On the 30 year term, $3,457.68 x 360 = $1,244,764.80
On the 20 year term, $3,907.77 x 240 = $937,864.48
TOTAL SAVINGS: $306,900.32 over the 20 year term
All for the additional payment of a modest used car.

These are scenarios and options that are made possible by having access to over 100 of the best lenders in the mortgage industry. Every client scenario that I see is thoroughly researched, analyzed and shopped with the tools and lenders I have access to.

Who you work with matters.

James Cahill
Edge Home Finance
NMLS #272459

06/13/2025

This is a very special opportunity to buy a home with only 1% down. Call me for details.

05/12/2025

Two frequent questions that borrowers often ask me:

1. How fast can you close?
2. What happens if rates drop after we lock?

Here is a real-life example of a transaction I had last summer that addresses both of these issues. Last August, there was a very brief 24-48 hour window where rates literally dropped half a percentage point. At the time, I was clear to close on a $1.4M new construction home with a good lender. On Friday, August 2nd, rates fell dramatically and the client called me seeing if we could renegotiate the rate. It was late Friday evening, and the renegotiation didn't yield anything worth of how much rates had improved. We were scheduled to close on Friday, August 16th, just 10 business days away. The following Monday, we locked, uploaded and disclosed the file with a new investor at a note rate of 4.99% with an APR of 5.17%. At the time, the national average on a 15 year fixed conventional was 5.88% per Mortgage News Daily. We got the clear to close in 7 business days on a new construction purchase that also required a final inspection from the appraiser and an escrow agreement for items that weren't finished by the closing date. We closed on time and the client saved half a point in rate and over $2,000 in closing costs.
This type of transaction isn't typical, but I can honestly say that it was possible because of the platform and investors that I have access to at Edge Home Finance. It doesn't matter if the transaction is $1.4M or $140,000, that was the right move for the client and if the circumstances demand it, I will do that every time, for every client.

Who you work with matters.

Creative. Competitive. Cost-Effective.

Jim Cahill
Edge Home Finance
612-201-3685
NMLS 272459

02/18/2025

The Problem: A single parent with 3 kids was on the verge of losing their home due to bad decisions by an ex-spouse. Specifically, the primary residence was used as collateral for a large business loan, and the spouse defaulted on that loan. Every lender seemed to have a different interpretation of what options the client had available due to the complex variables involved.
The Solution: 1. Get the client's hypothetical purchase pre-underwritten with one of Edge's premium lenders before the home search began. 2. I Made sure that I understood from the underwriter exactly what would be possible under conventional underwriting guidelines. 3. Looked at the monthly obligations and leveraged seller concessions to fund a 2/1 buydown to keep the payments low for the first 2 full years. By the time the second year is complete, the other property will be sold and the client should have a significant pay raise. 4. Worked with the financial advisor to create a tax-free income stream from investment account.
Who you work with matters.
Deals like this are possible because we have access to a multitude of lenders.
Jim Cahill
Edge Home Finance
NMLS 272459
612-201-3685
[email protected]

01/08/2025

The new FHA loan limit for 2025 is $524,225 in most areas. This is significant because FHA loans are great for first-time homebuyers and it will easily exceed the median sales price in most areas. FHA is also great for buyers with limited down payments, less than 700 credit scores, and is more forgiving with respect to adverse credit events--i.e. late payments, past bankruptcies, past foreclosures, etc.

12/12/2024

Big news for the housing market in 2025. The new conforming limit has been raised to $806,500 and we have lenders that are honoring that limit today! Here are some relevant examples of what that means:
1. On a purchase price of $1,008,125 with a 20% down payment you can do a conventional loan.
2. On a purchase price of $896,111 with a 10% down payment you can do a conventional loan.
3. On a purchase price of $848,947 with a 5% down payment you can do a conventional loan.
If you have any questions or scenarios, I am happy to help!
Jim Cahill
Edge Home Finance
612-201-3685
[email protected]
NMLS #272459

09/18/2024

Mortgage rates are at 2 year lows right now. Feel free to reach out for a free analysis. Many people right now are able to accomplish what I refer to as the mortgage trifecta: 1. Lower rate. 2. Lower payment. 3. Shorter term

Jim Cahill
Edge Home Finance
NMLS #272459
612-201-3685