The Mortgage Files

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

How numbers in the mortgage process may change

How numbers in the mortgage process may change

By Scott Sheldon / June 4, 2023

When you apply for a home the lender analyzes your credit score, your income credit score, and assets in determining your eligibility to buy a home. If anything changes in the process, numbers can as a result… Numbers can change in the process in any number of the following ways- insurance on your home is…

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Scott Sheldon's The Mortgage FIles Blog

Should you build a house or buy a rebuild home?

By Scott Sheldon / May 28, 2023

For consumers who are beginning the road into homeownership, the notion of building a home versus buying something already built may seem attractive. If you are trying to decide, here are some factors to weigh in on… Building a home generally means you need to have the land first. Financing can sometimes be problematic as…

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Why failing banks is good new for mortgage rates

Why failing banks is good news for mortgage rates

By Scott Sheldon / May 22, 2023

In the last few weeks, a handful of big banks have failed including Silicon Valley bank signature bank, and now First Republic Bank. While this is not a repeat of 2008, it does signal instability in the broader mortgage market which may be good news for long-term mortgage rates. Hear some things to consider… First…

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

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 ……

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

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…

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

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…

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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…

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

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…

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