The Mortgage Files

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

Should you Cash out refinance and remodel or buy another property?

By Scott Sheldon / November 10, 2019

Homeowners who have outgrown their houses may be considering the possibility of buying another property or just staying put and remodeling the one they already have. Here are some things to consider if you’re trying to determine what makes the most financial sense… When you buy your first home you might not be thinking about…

How your mortgage payment relates to purchase price

By Scott Sheldon / November 2, 2019

Buying a home means the careful planning of your finances and making sure it’s really something that you can support? One of the biggest challenges home buyers face is budgeting for a new mortgage payment. If you’re going to be buying a house here are the things you might want to consider as it relates…

No more VA Loan Limits in January 2020!

By Scott Sheldon / October 27, 2019

HR 299 is a new VA Bill recently signed by the president that makes some big changes to VA financing. If you’re thinking about buying a house and you’re an eligible VA mortgage applicant. Here are some things you ought to consider.. VA financing allows you to purchase a house with no money down. Presently…

Types of loans you can get based on your credit score

By Scott Sheldon / October 20, 2019

Credit is one of the biggest parameters of a lender’s decision to grant you a loan approval or not. There’s a lot of misconceptions out there floating around the internet about what you can and can’t do with the type of credit that you have. Here’s some things to consider if you’re worried about your…

8 common mortgage misconceptions most consumers ask about

By Scott Sheldon / October 13, 2019

The internet is full of information about purchasing or refinancing a house. Some of it tangible some of it not worth the paper it’s written on. Here are seven of the most common misconceptions with regards to getting a mortgage… Pulling credit for a mortgage automatically tanks your credit score. The reality of it is…

Here is what to expect about today’s mortgage loan process

By Scott Sheldon / October 6, 2019

Mortgage loan financing is a little bit of a cryptic process to some people. Talk to your friend your neighbor your parent and everyone will have their story about what their individual loan process was some good, some bad and some in between. Here is the nature of mortgage lending and how the process works…

How to use rental income to qualify for a mortgage

By Scott Sheldon / September 29, 2019

How to use rental income to qualify for a mortgage Rental property is a great way to have additional streams of income and create a financial nest egg for you and your family. If you’re mortgaging a property with rental income here are some things you should be aware of when it comes time to…

Why waiting for mortgage rates to get better is a losing proposition

By Scott Sheldon / September 22, 2019

Why waiting for mortgage rates to get better is a losing proposition Purchasing or refinancing a house for many families is a staple of the American Dream. One of the best ways to gage affordability is getting a good interest rate which is a function of your total monthly mortgage payment… Mortgage rates change based…