The Mortgage Files

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

Line graph showing U.S. mortgage rate fluctuations in 2025 with key economic events like inflation spikes and Fed policy shifts annotated for context

What’s Driving the Volatility and What Comes Next?

By Scott Sheldon / April 15, 2025

Mortgage Rates in April 2025: What’s Driving the Volatility and What Comes Next As of April 2025, mortgage rates are experiencing notable fluctuations, reflecting the broader economic uncertainties. The average 30-year fixed mortgage rate has hovered around 6.6% to 6.85% in recent weeks, influenced by various macroeconomic factors. Key Factors Influencing Current Mortgage Rates Federal…

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Now or later?

Should You Buy a Home Now Or Wait for Lower Rates in 2025?

By Scott Sheldon / April 10, 2025

Should you Buy a Home Now at 6.5% to 7% Interest, or Wait? Let’s address the elephant in the room: mortgage interest rates. If you’re asking, “Are rates going to drop soon, or should I buy now at 6.5–7%?” you’re not alone. This question is everywhere right now, and honestly—it’s a fair one. Rates have…

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Down Payment assistance

Down Payment Assistance Programs in California: What You Need to Know in 2025

By Scott Sheldon / April 9, 2025

What Down Payment Assistance Programs Are Available—and Do I Qualify? If you’re trying to buy your first home and wondering how to come up with a down payment, you’re not alone. With higher home prices and interest rates in the 6.5% to 7% range, more buyers are actively searching for help with their down payment…

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Scott Sheldon's The Mortgage FIles Blog

Non-QM Loans Explained: Flexible Mortgage Options for Unique Borrowers!

By Scott Sheldon / April 4, 2025

Not every borrower fits neatly into the traditional mortgage box—and that’s okay. Whether you’re self-employed, investing in rental properties, have complex income streams, or experienced credit hiccups, there are still options available. That’s where non-QM loans come in. Non-QM (non-qualified mortgage) loans are designed for borrowers who don’t meet the standard income, credit, or documentation…

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"Bold white text on a deep blue background reading 'Why Mortgage Rates Vary Between Lenders'"

Why “Cheaper” Isn’t Always Better: The Real Story Behind Mortgage Pricing and Underwriting

By Scott Sheldon / April 2, 2025

Let’s get real for a second: mortgage pricing isn’t as wide open as most people think. Sure, it’s tempting to chase the lowest rate you see online or the lender who claims to save you $50 a month, but here’s the deal most borrowers never hear — mortgage lenders, for the most part, are all…

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Before and after renovation of a home, demonstrating how strategic improvements can maximize home equity and increase property value

Buying a Home That Needs Work? Here’s How to Maximize Equity and Benefit from Lower Interest Rates

By Scott Sheldon / March 27, 2025

So, you’ve found a house you like, but after digging in, you realize it needs $70,000 worth of work. That $500,000 house is probably priced that way because it needs those repairs—meaning if it were move-in ready, it could easily be worth $570,000 or more. Now, you’re faced with a choice: walk away or embrace…

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A split house with one person keeping the keys, symbolizing mortgage loan assumptions and refinancing options after a divorce.

Navigating Divorce & Mortgage Loans: Why FHA Assumable Loans Matter

By Scott Sheldon / March 20, 2025

Breaking Up? Here’s What You Need to Know About Your Mortgage Divorce is never easy, and when real estate is involved, things can get even more complicated. One of the biggest questions that comes up is: Can you assume your current mortgage instead of refinancing? The answer depends on the type of loan you have.…

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Infographic illustrating the impact of lower mortgage interest rates on home prices amid housing inventory shortages. The image shows a comparison of a house priced at $600,000 with a 6.5% interest rate versus the same house increasing in value to $650,000-$675,000 with a 5.5% interest rate. A supply and demand graph highlights increased buyer competition due to lower rates, driving home prices higher. The design includes clear labels representing housing affordability, mortgage rates, and market demand.

The Impact of Lower Interest Rates on Housing Inventory Challenges

By Scott Sheldon / March 10, 2025

The U.S. housing market has been grappling with a significant inventory shortage, with an estimated deficit of 3.7 million homes. This scarcity has intensified competition among buyers, leading to bidding wars and elevated home prices. In this context, a reduction in mortgage interest rates can have profound effects on the market dynamics, particularly concerning home…

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