The Mortgage Files

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

Should you refinance into a higher rate mortgage?

By Scott Sheldon / April 3, 2022

It is no surprise inflation is upon us, and interest rates are feeling the rising cost of goods and services. Everything seems like it is going up in price. Mortgage rates are no exception. One thing you might want to consider as it relates to refinancing your house is there is a net tangible benefit.…

Position your pre-approval against rising rates

By Scott Sheldon / March 27, 2022

The inflationary environment that we are in, coupled with the supply chain, and rising prices of food and energy, all have contributed to higher costs for about every economic resource. Interest rates are no exception. Interest rates are up one day down the next based on worldly and historic events. If you’re pre-approved for a…

Does the Federal Reserve make mortgage rates go up or down?

By Scott Sheldon / March 20, 2022

It’s no secret unless you’ve been living under a rock, that the Federal Reserve almost for certain is going to raise interest rates in March of 2022. The question then becomes if the Fed raises rates, what happens with mortgage rates? Well, the answer just might surprise you. Most people think when the Federal Reserve…

Should you refinance during rising rates?

By Scott Sheldon / March 14, 2022

If you’re thinking about refinancing your house and you’ve been on the fence; now would be a good time to start that application. Interest rates are all relative so it’s important to understand the total picture when deciding whether you should refinance your property.   It’s no surprise that the federal reserve more than likely…

Should you refinance your current mortgage?

By Scott Sheldon / March 6, 2022

People looking to refinance their homes are always looking for a good deal. It goes without saying you’ll want to do the best you can for yourself financially. Get the best combination of rate, price, and customer service. Here are some things that you should give some consideration to when choosing who to work with…

Your ex can make your mortgage application difficult

By Scott Sheldon / February 27, 2022

You’re trying to purchase or refinance a home. You have an ex that you’re dealing with that you were either married to or on the title to a property with. The mortgage process depends on what that communication looks like with that other person. It could be very easy or more technical and challenging. Yes,…

Buying a piece of land and put a home on it

By Scott Sheldon / February 20, 2022

People are always trying to find additional ways to reduce their costs when buying a home. Maybe that means buying a lower price point or changing to a condominium instead of a single-family house. Another segment of the market in most people’s home search journey considers the possibility of buying a piece of land and…

What type of mortgage lender are you looking for?

By Scott Sheldon / February 13, 2022

Not all mortgage companies are the same. What type of lender or mortgage professional you work with can make the difference between you being successful in your home-buying endeavor or not. You want a lender, or someone working on your behalf who has the “whatever it takes” approach to helping you with financing. No matter…