The Mortgage Files

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

Illustration of two houses side by side. The smaller orange house has a red “For Rent” sign in front, while the larger blue house sits beside it. The background features light clouds, trees, and grass, with bold black text above reading “Renting Out Your Current Home.

Should You Sell or Rent Out Your Current Home When Buying a New One?

By Scott Sheldon / July 17, 2025

Should You Sell Your Home or Keep It as a Rental? When you’re thinking about buying a new home and you already have a mortgage on your current property, it’s a big financial and emotional decision. Maybe your current home has become too small, there’s a lot of road noise, or your growing family simply…

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A modern two-story suburban home with blue-gray siding and white trim is shown at sunset, framed by a calm sky and soft lighting. Bold navy blue text over the image reads, “Here’s a Better Way to Think About It,” making it a visually inviting blog post header about real estate strategy.

Thinking of Lowballing Because the House Needs Work? Here’s the Reality.

By Scott Sheldon / July 15, 2025

Here’s a Better Way to Think About It If the home just hit the market—say it’s been listed for less than 30 days—it’s still considered “fresh.” In that case, offering within 5% of the list price is a good rule of thumb if you want to be taken seriously and still have room to negotiate.…

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Illustration of a renovated home vs. a home for sale as-is, with "VS." in the center.

Should You Renovate Before Selling Your Home or Sell As-Is?

By Scott Sheldon / July 10, 2025

Should You Sell Your Home As-Is or Fix It Up First? Let’s Break It Down So you’re thinking about selling your house, but you’re torn: Should you sell it as-is, or spend money fixing it up in hopes of getting a higher price? It’s a fair question—and one that a lot of homeowners wrestle with,…

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Illustration of an orange two-story house next to a green dollar sign, a blue calculator, and stacked coins, with bold text above reading “Income is the key to home affordability,” symbolizing the role of income in determining home buying power.

Why Income Drives Buying Power More Than Credit or Cash

By Scott Sheldon / July 8, 2025

When it comes to buying a home, most people focus on credit scores and down payments. Those two things matter—but if you ask any experienced loan officer what really determines how much home you can afford, the answer is simple: income. Income is the engine behind your buying power. It determines how much a lender…

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Veteran couple discussing home appraisal with real estate agent

Understanding the VA Tidewater Initiative for Homebuyers and Refinancers

By Scott Sheldon / July 3, 2025

The VA Tidewater Initiative is a unique safeguard within the VA loan appraisal process, designed to protect veterans and active-duty service members from overpaying for a home. Whether you’re purchasing or refinancing, understanding how this process works can be crucial in navigating potential appraisal challenges. What Is the VA Tidewater Initiative? The Tidewater Initiative is…

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Single-story beige suburban home in Sonoma County with a 'For Sale' sign in the front yard, neatly landscaped lawn and bushes, under a clear blue sky

Why days on market (DOM) matters for Sonoma County home buyers

By Scott Sheldon / July 1, 2025

If you’re on the hunt for a home in Sonoma County, you might have noticed listings aren’t flying off the shelves as quickly as they were—yet the pace is still brisk. In May 2025, homes typically went pending in about 37 days, about six days longer than last year. That extra time isn’t just a…

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"Informational graphic titled 'How to Qualify for Two FHA Loans at the Same Time: Understanding the Exceptions,' featuring two house icons, a plus sign, and a document with a dollar symbol, set against a beige background."

How to qualify for two FHA Loans

By Scott Sheldon / June 24, 2025

Can You Have Two FHA Loans at Once? Here’s What You Need to Know FHA loans are designed to help people buy primary residences—not investment properties, second homes, or vacation getaways. That’s why, under normal guidelines, you can only have one FHA loan out at a time. But what if your life circumstances change and…

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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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