The Mortgage Files

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

Instagram Test Blog Post w/ Embed

By sonomacountym / May 15, 2023

If I had an instagram video post that I just HAD to put on the site, I’d probably just write a blog post on the same topic, and embed the instagram video content as a part of that post. I don’t think I’d use it as an excuse to make a shorter post really ……

What the bank or credit union may not be telling about their juicy mortgage offer

By Scott Sheldon / May 14, 2023

You just went into a contract to buy a home, and now it’s time to get a mortgage loan to close escrow. If you decide to ask your local credit union or bank for mortgage info, make sure to read all the fine print. Here is some practical information to be aware of before you…

Why hourly wage earners sometimes have a hard time getting a home loan

By Scott Sheldon / May 9, 2023

You’re all excited to purchase your first home, you have a good job, you have a good down payment, and you’ve got a good credit score. What could go wrong, right? Here’s an occurrence that happens pretty frequently you might not know about and more specifically what to do about it as it relates to…

How to avoid common self employed mortgage mistakes

By Scott Sheldon / April 30, 2023

If you’re self-employed and trying to get prequalified to buy a home period it is not only the income you show on paper,  the total picture matters. Here’s what you need to know if you self employed and applying for a mortgage loan… You’re your own boss, you don’t work for anyone else, and you…

When you’re applying for a home loan, make sure you tell your lender everything

By Scott Sheldon / April 23, 2023

If you’re thinking about getting prequalified to buy a home, maybe you have some issues with your credit history in the past, or maybe you cosigned for someone else’s property. These are the types of things you might think might not matter to a mortgage company granting your home loan, but they do matter. If…

How your interest free consumer debt may be keeping you from buying a home

By Scott Sheldon / April 14, 2023

If you’re thinking about purchasing a home and you’re carrying any consumer debt, such as installment loans, personal loans, or even low-rate credit cards. These things could adversely affect your ability to purchase a home. If you carry any of these obligations and you are desiring to buy a home the following information is for…

Why is the Cal HFA Shared Appreciation Dream Program as good as it sounds

By Scott Sheldon / April 9, 2023

If you’re looking to buy a home in the State of California and you’re a first-time homebuyer, and you don’t have 20% down or a very small down payment, this program could be a game changer for you and your family. Here’s how the program works, and how you can benefit from a financial standpoint…

How earning more income affects your ability to buy a home

By Scott Sheldon / April 3, 2023

If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…