The Mortgage Files

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

How Rising Incomes and Smart Strategies Can Help You Buy a Home in Sonoma County

How Rising Incomes and Smart Strategies Can Help You Buy a Home in Sonoma County

By Scott Sheldon / June 19, 2024

Buying a home is one of the most significant financial decisions many will make in their lifetime. As home prices continue to rise, so too does the level of income needed to qualify for a mortgage. This is particularly true in places like Sonoma County, California, where the picturesque landscapes and high quality of life…

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How Interest Rates Are Impacting Home Buyers and Sellers

How Interest Rates Are Impacting Home Buyers and Sellers

By Scott Sheldon / June 6, 2024

Interest rates are a critical component of the housing market, influencing the behaviour of both home buyers and sellers. As of mid-2024, the interest rate environment is characterized by moderate increases due to efforts by the Federal Reserve to combat inflation. This blog post will delve into the current state of interest rates, their impact…

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Understanding Mortgage Rates and Their Impact on Home Buying Power

Understanding Mortgage Rates and Their Impact on Home Buying Power

By Scott Sheldon / May 8, 2024

Navigating the world of real estate financing can often feel like trying to hit a moving target, especially with the constant fluctuations in mortgage rates. Following is how to break down the often complex relationship between mortgage rates and home buying power, helping you understand how these changes can impact your pursuit of the American…

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why being a picky home buyer could be an issue

Why being choosy as home buyer could be problematic

By Scott Sheldon / October 29, 2023

You’ve decided to buy a home, you’ve gotten preapproved with a lender, your file has even been pre-underwritten. Here are some things you might want to give some consideration to- what you want versus what the market might support… Here’s to considerations to think about.. Consideration one- Let’s say you’re pre-approved to $700,000, the house…

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How earning more income affects your ability to buy a home.

How earning more income affects your ability to buy a home

By Scott Sheldon / April 3, 2023

If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…

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how to refinance 2nd mortgage

Is is a second mortgage making your refinance harder? This tip may help…

By Scott Sheldon / May 7, 2020

Mortgage lenders sometimes take an overly gun shy approach to how a mortgage loan is originated. One such example of this is if you have a first and a second mortgage on your home. Let us say your goal is to refinance and to not get any money out but just combine the first and…

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How to avoid getting a jumbo loan due to Coronavirus

How to avoid getting a jumbo loan due to Coronavirus

By Scott Sheldon / April 22, 2020

Securing mortgage loan financing right has become a little bit of a challenge for some families desiring to borrow money. Here are some considerations you need to be aware of if you’re looking for a jumbo mortgage during the coronavirus pandemic… If you’re looking to mortgage a house and the size of a loan that…

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How to get a mortgage if you've been furloughed to do to COVID_19

How to get a mortgage if you’ve been furloughed to do to COVID_19

By Scott Sheldon / April 9, 2020

The coronavirus has undoubtedly created a significant amount of challenges for mortgage companies and families across America. Some lenders are changing credit score requirements, others are pulling out of the market entirely, and others are making restrictions on what types of loans they will fund. If you are in the process of getting a mortgage…

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