The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

A side-by-side visual comparison of a modern Sonoma County home and a more rustic Lake County home, illustrating real estate affordability differences.

Can’t Afford Sonoma? Why Lake County Might Be the Smartest First-Time Buyer Move in 2025

By Scott Sheldon / June 19, 2025

Can’t Afford Sonoma? Why Lake County Might Be the Smartest First-Time Buyer Move in 2025 If you’ve been eyeing a home in Sonoma County but feel like the numbers just aren’t penciling out, you’re not alone. The truth is, while Sonoma County remains highly desirable, nearby Lake County might just be the hidden gem that…

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Couple viewing a home in Sonoma County, California surrounded by vineyards and hills

How much income you need to buy a house in Sonoma County, California

By Scott Sheldon / June 17, 2025

Buying a Home in Sonoma County: What Income Do You Need in 2025? Sonoma County, nestled in the heart of California’s wine country, offers a unique blend of natural beauty, cultural richness, and a robust housing market. As of mid-2025, the median home price in the county stands at approximately $829,000, reflecting a 1.5% increase…

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"Illustration of a homebuyer navigating mortgage options with icons representing cannabis income, FHA restrictions, conventional loan pathways, and financial documents, symbolizing the challenges and solutions for cannabis industry workers seeking home financing.

Understanding Cannabis-Related Income and FHA Loan Qualification

By Scott Sheldon / June 12, 2025

Can You Use Cannabis Income to Qualify for a Mortgage? Here’s What You Need to Know As the cannabis industry continues to grow, so does the number of homebuyers earning their income through state-legal cannabis businesses. But when it comes to qualifying for a mortgage—especially an FHA-insured loan—these borrowers face unique challenges due to conflicting…

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A hopeful first-time homebuyer or couple sitting with a loan officer at a desk, looking at documents or a laptop, with a house in the background or visible on screen—professional and optimistic tone.

Can you buy a house with a 500 credit score?

By Scott Sheldon / June 10, 2025

Can You Buy a House with a 500 Credit Score? Yes—Here’s How Buying a home with a 500 credit score might seem like a long shot—but it’s not impossible. While low credit does make things more challenging, there are still viable paths to homeownership, especially through government-backed programs like FHA loans. Just know that success…

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Real estate investor reviewing DSCR loan documents at a desk with a laptop and house model.

Outside-the-Box Mortgage Solutions: DSCR, Bank Statement, and Non-QM Loans Explained

By Scott Sheldon / June 5, 2025

Not every borrower fits neatly into a conventional mortgage box. In fact, as homeownership has become more dynamic and diverse, so too have the mortgage options available. If you’re self-employed, an investor, or someone with complex income streams, there’s good news — you’re no longer out of luck. There’s been a significant rise in non-QM…

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A military veteran couple of Asian descent smiles while reviewing mortgage paperwork at their kitchen table, using a laptop and calculator.

How Spousal Debt Affects Your VA Loan in a Community Property State

By Scott Sheldon / June 3, 2025

VA Loans and Spousal Debt: What Veterans in Community Property States Need to Know When you’re a military veteran, few things are as valuable in the homebuying process as your VA loan benefit. It’s one of the most powerful mortgage options available—offering zero down payment, no mortgage insurance, and competitive interest rates. But there’s a…

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Infographic titled "Appraisal Risks in Refinancing" showing four people discussing refinancing. It highlights appraisal risk factors, mitigation strategies, and alternatives like HELOCs and second mortgages, using a clean layout with navy text on a beige background.

Worried About a Low Appraisal? Here’s What You Need to Know Before Refinancing

By Scott Sheldon / May 28, 2025

In the current real estate market, homeowners considering refinancing are increasingly concerned about the implications of home appraisals. Appraisals play a crucial role in determining a property’s value, directly influencing loan-to-value (LTV) ratios and, consequently, the terms and approval of refinancing applications. Understanding the nuances of appraisal risks is essential for homeowners aiming to make…

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hat Happens If Fannie and Freddie Go Private?” with two stylized house icons, a padlock, a bar chart, and a dollar sign, symbolizing housing market uncertainty and financial impact

What Happens If Fannie and Freddie Go Private?

By Scott Sheldon / May 22, 2025

What Happens If Fannie Mae and Freddie Mac Go Private? The housing market as we know it is built on a critical but often overlooked foundation: Fannie Mae and Freddie Mac. These two government-sponsored enterprises (GSEs) have been in federal conservatorship since 2008, following the financial crisis, and they remain under the oversight of the…

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