The Mortgage Files

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

Covet 19 should you be buying a house right now?

By Scott Sheldon / March 25, 2020

Purchasing a house is a very large financial investment and it needs to be done with care and prudence. With the chaos, the doom and gloom you may be asking yourself should you buy a house? Should you wait or should you pull the trigger on the high-ticket item? Here are some things to consider…

Don’t make this common 401K home buying mistake

By Scott Sheldon / March 19, 2020

One excellent way to buy a house is to borrow money from your 401k. Every 401K provider is different, and the language associated with your 401k provider can make or break your ability to buy a home. Here’s what you need to know if you’re borrowing money from your 401k to purchase a house. For…

Don’t make this home buying when negotiating the purchase price of a house

By Scott Sheldon / March 12, 2020

Buying a home is a high ticket purchase. It requires careful planning and due diligence. One of the biggest factors of buying a home is taking into consideration all the various reports, dates, and deadlines. It can be quite an ordeal of a process if it’s not handled correctly. Here is what to know… One…

Why your mortgage goals may not happen

By Scott Sheldon / March 3, 2020

If you’re desiring to refinance your house or even buy a new one and you don’t have several hundred thousand dollars, you’re probably going to need a mortgage. One of the things you should carefully consider is the mortgage company that you’re choosing to apply with. Here are some things you might want to think…

Buy a house now or should I wait?

By Scott Sheldon / February 26, 2020

One of the things homebuyers are always asking themselves is buying now versus waiting. Mathematically it could pencil out that buying a house down the line might make more sense, but you should pay close attention to all the financial contributors in your life so you can make the most informed decision possible… The lay…

Why you shouldn’t be solely focused on credit when it comes to getting a mortgage

By Scott Sheldon / February 19, 2020

For you to successfully purchase a home or refinance a home, you’ll want to pay attention to your overall financial picture. Each mortgage lender requires a blend of healthy credit, manageable debt, and income as a basis for support for the whole picture. The following are some of the things to consider when it comes…

3 ways that will prevent you from getting a mortgage

By Scott Sheldon / February 12, 2020

If you want a mortgage, you need to play by the lender’s rules. There’s an old saying called the Golden Rule he who has the money makes the rules. When it comes to getting mortgage loan financing you need to be prepared to show supporting income documentation and have your ducks lined up. Here is…

Why your income is your lifeline to finance a home

By Scott Sheldon / February 6, 2020

Getting mortgage loan financing requires you have a blend of sufficient, cash ample credit and income to offset a proposed new expense. You must have the right combination of all three in order to purchase or refinance a home. What might not make sense however is the lifeline that’s going to link all the pieces…