The Mortgage Files

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

Here is a smart mortgage strategy for buying a home in 2023

Here is a smart mortgage strategy for buying a home in 2023

By Scott Sheldon / June 11, 2023

If you’ve been on the fence about buying a home and you’re thinking about potentially getting prequalified. Here are some things you should give some consideration to… You might be telling yourself “I don’t want to buy a home right now because interest rates are kind of high.”  The question becomes in relation to what?…

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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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how the ppp loan may hurt your mortgage

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…

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How to use seller carry financing to purchase a house with less cash down

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…

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why your mortgage goals why not happen

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…

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

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…

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3 ways you cannot get a mortgage

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…

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