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Earl Rose

Vice President of Mortgage Lending
855 West Broadway, Ste B, Forest Lake, MN 55025
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NMLS: 212480
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Guaranteed Rate was great!

Lynn H. – 6/27/2016

Earl Rose and his team were very helpful and explained everything throughout the whole process. Earl was very supportive and understanding when I kept calling him about some questions I had. He returned my calls fast. I was very pleased with the whole process.

Linda N. – 6/27/2016

I had a great experience throughout the entire mortgage process. At no time did I ever feel rushed or pressured and in fact, I felt very safe, secure and comfortable. The people at Guaranteed Rate were top notch and very careful to explain things thoroughly. I would recommend the Reverse mortgage to anyone over 62 as it has allowed me to move on with my plans and enjoy life more thoroughly.

– Marsha C.

Thanks to all of you in the office...Everyone did their part!!

Kay L. – 6/24/2016

Earl Rose explained the process so we could understand it and as such the entire process went as pretty much planned.

John E. – 5/11/2016

About Earl

Licensed in Real Estate and mortgages since 1979. Over the years, I developed large single family tracts of land, was top RE sales, 20 years owned mort. brokerage, 2013 Super Mortgage Professional. Now I specialize in Reverse mortgages, 13 years experience. Teach consumers, Real Estate agents, planners, anyone and everyone the dynamics of the product. Most rewarding segment of my career, I love my clientele. I also love my wife, eight kids and 14 grandchildren. We own a year round lakehome in my hometown Big Lake, MN, been Pres. of large lake assn. for 10 years. Our lakehome is the first home in the U.S. to ever receive an FHA Rural Home Improvement loan in 1949. Five US Senators flew from D.C. to Big Lake, MN to witness the signing of the mortgage. Now, I specialize in FHA loans - Reverse mortgages.

Earl interview Q&A

How long have you been in the mortgage business and what inspired you to get into it?
I have been in the Real Estate/mortgage industry since 1979. I wanted to get into an industry that involved being an integral part of people\'s lives that being home ownership. Coming from a large family there is something about knowing that your advice and guidance helped to create a successful outcome in the decisions people make about their homes. There is no other job that pays you take part in the lives of others in such a way. Very rewarding and it has been a very good experience for me. Who is your typical customer (s) and what questions do they typically have?
Who is your typical customer and what questions do they typically have?
My clientele are Senior citizens and without taking anything away from the other age groups, Seniors are just a lot of fun. Knowledgeable and know what they want. Straight talking and I really enjoy providing a very valuable service to those in their retirement years.
Tell us about a specific challenging borrowing situation and how you got the mortgage closed and funded.
Reverse mortgages are known of but not about. I have originated Reverse mortgages for the last 10 years and the most often heard phrase I hear is \"I didn\'t know that.\" when people learn the facts and remove the myths. It is truly the most rewarding product I have had the honor of representing. The senior population is the most grateful demographic group out there so much so that Reverse mortgage closings are indeed the happiest closings. Purchase or refinance no other product so directly addresses the needs of the senior population. Education is the key and I conduct classes anywhere, anytime. One on one or groups.
Tell us about a mortgage product that consumers may not be aware of?
Home Equity Conversion Mortgages ie. Reverse Mortgages. With the help of national advertising, the public has become encouraged to seek education about the product. There have been stigmas attached to the product but those barriers to education are dissipating. People just in the last few years are reaching out in far greater numbers in an effort to find out more about how Reverse mortgages work. A very good thing. Knowledge is everything.
What part of the home loan process do customers find most difficult and how do you help them through it?
Having their expectations met. Too often, people are not counseled as to what to expect and therefore left to assume. Assume timelines, assume activities and so on. At the outset, I make a point of laying out to the client what to expect from timelines to cost. Under promise and over deliver. If your time frames come in less, if your cost is less, you look smart even if you can\'t control events as much as you would like. Looking smart beats the alternative everyone leaves with a smile.
What can borrowers do to insure a smooth mortgage underwriting process?
First and foremost, make sure their loan officer gives clear and concise detail as to what is expected of them in terms of documents and timelines. With the loan officer taking a proactive stance in providing guidance, there need not be a reactive outcome by having overpromised and under delivered on time frames and expectations.
Are you active in any local associations or community groups, and at what level? What goals and/or success have you helped these groups achieve?
I am a member of NE Minneapolis Kiwanis, I am Pres. of Big Eagle Lake Improvement Assn., and I am Vice President of Mature & Thriving (a senior volunteer organization). Kiwanis is very involved in providing school materials and scholarships, the lake assn. is integral in the health and wellbeing of Big Eagle Lake and the senior organization allows opportunities to educate the senior population on a host of retirement issues. I provide as much volunteer time as my schedule will allow.
Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
Kiwanis of Minneapolis (20 years), Big Eagle Lake Improvement Assn. (10 years President). Both organizations do fund raising and I have always been active in those events. Both organizing and implementing.
Tell us something that makes you unique or something wacky, yet interesting about you?
Started my working career right out of a 2 year college education with the Atomic Energy Commission in 1971. I was involved in the very first demolition of a nuclear reactor in Elk River, MN. I was also a licensed, First Class "A", high pressure steam engineer (14 years experience in the power industry). At the same time, I bred, showed, rode and cared for purebred Arabians. 1983 I was Tri-State Amateur Owner to Ride (Wisc., Iowa and MN). Also, in 1983 I rode at the U.S. Nationals in Louisville, KY. Rode a champion horse that never lost. It was quite an experience.

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