The Mortgage Files

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

Why interest rates probably will not go down any lower

What to expect with mortgage rates over the next few months

By Scott Sheldon / November 17, 2019

If you’ve been waiting to pull the trigger on a new house purchase or a refinance and you’re waiting for an interest rate you may get your wish over the course of the next couple of weeks. That said that’s not without some potential risk you otherwise might incur by waiting for what may or…

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6 common mortgage loan scenarios you cannot circumnavigate

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…

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Why a 6 Month job gap on your FHA Mortgage could be an issue

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…

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

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…

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how to time when to buy a home

This FHA requirement might hurt your multi unit home buying chances

By Scott Sheldon / September 13, 2019

One of the perks of getting an FHA mortgage is the ability to purchase a primary home using just 3.5% down. The math however will change if you’re buying a multi-family property… You heard that correctly. You can buy a multifamily property using an FHA-insured loan up to four units with just 3.5% down. The…

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Why the purchase price in a real estate transaction should not be the single most important factor

Why the purchase price should not be the single most important factor

By Scott Sheldon / September 8, 2019

When buying a home most would believe the number one most important thing you need to be focused on is what you pay for the house. Mom and dad who bought their house years ago, Grandma and Grandpa who bought their house back in the early 1980s when housing prices were $40,000 all have an…

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6 common mortgage loan scenarios you cannot circumnavigate

How your finances matter when it comes to buying a home

By Scott Sheldon / September 1, 2019

Buying a home is quite a financial feat. It requires careful planning due diligence and making sure that it’s the right decision for you and your family. If you’re buying a home, you may to begin to prepare your finances… To get a mortgage you must have a blend of cash, credit and income. You…

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why waiting for lower rates is a bad idea

Could the 30 year fixed mortgage get to 3%?

By Scott Sheldon / August 25, 2019

Interest rates right now are very close to their all-time historical lows. We’ve seen this a few times before. Here’s what you need to consider when getting what you perceive as the best mortgage rate… Mortgage rates are in flux and have been in flux since the United States started keeping track of these numbers…

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