The Mortgage Files

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

"Suburban neighborhood with affordable homes and a scenic morning commute."

Could Commuting Be the Key to Affordable Homeownership?

By Scott Sheldon / January 15, 2025

For many families, finding an affordable home in their current city or town feels like an uphill battle. As housing prices continue to climb, the dream of homeownership can seem out of reach. But what if expanding your search radius could bring that dream closer? By considering homes in areas outside your immediate location, you…

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Home inspector and contractor discussing a house inspection report."

Understanding Home Inspection Reports: Facts Buyers Must Know

By Scott Sheldon / January 8, 2025

Understanding Home Inspection Reports: Facts Buyers Must Know When buying a home, the inspection phase can feel like a whirlwind of new information. After you’ve agreed on a price with the seller, the home inspection report often provides insights you weren’t initially aware of. While valuable, these reports can sometimes lead to unnecessary worry. Here’s…

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Family standing outside their new suburban home, smiling and celebrating homeownership made possible through a no down payment FHA program

How to Buy a House Without Income Limits or Government Red Tape

By Scott Sheldon / December 25, 2024

If you’re looking to buy a house but want to avoid the income limits and red tape often associated with traditional down payment assistance programs, Security National Mortgage Company (SNMC) offers a solution. Their unique FHA program allows you to buy a home without the usual restrictions, making it easier to achieve homeownership. This program…

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Side-by-side comparison of FHA and conventional loans with highlights of key differences, including PMI and down payments

FHA Loan vs. Conventional Loan: Which Is Best for Your Home Purchase?

By Scott Sheldon / December 18, 2024

Deciding between an FHA loan and a conventional loan for your home purchase is an important choice that depends on your financial situation and goals. Both loan options have distinct benefits and considerations, so let’s break down the key differences to help you make the best decision for your needs. A 5% down conventional loan…

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Should You Lock or Float Your Mortgage Rate? Here’s What to Consider

By Scott Sheldon / December 11, 2024

When you apply for a mortgage, one of the key decisions you’ll need to make is whether to lock in your interest rate or let it “float.” This choice can impact your monthly payment and your overall financial comfort, so let’s explore both options to help you decide. What Does It Mean to Lock Your…

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A vibrant depiction of the Sonoma County real estate market, showcasing modern single-family homes surrounded by vineyards and rolling hills under a clear blue sky, symbolizing opportunities with the 2025 conforming loan limits increase.

2025 Conforming Loan Limits Rise: Boosting Opportunities for Sonoma County Homebuyers and Sellers

By Scott Sheldon / November 26, 2024

2025 Conforming Loan Limits: What It Means for Sonoma County Buyers and Sellers The Federal Housing Finance Agency (FHFA) has announced an increase in the baseline conforming loan limit for single-family homes to $806,500 in 2025, a 5.2% rise from the 2024 limit of $766,550. In high-cost areas like Sonoma County, California, the conforming loan…

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Graph showing mortgage rate trends over time with a highlighted target strike rate, accompanied by a calculator and pen, symbolizing refinancing decisions

How to Decide Your Strike Rate for Refinancing: A Guide to Market Improvements and Timing

By Scott Sheldon / November 12, 2024

When it comes to refinancing your mortgage, knowing your strike rate—the interest rate at which refinancing becomes worthwhile—can save you thousands. But how do you decide what your strike rate should be? And how do you determine whether the market is moving toward your goal? In this post, we’ll break down the concept of a…

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Calculator and mortgage loan documents showing monthly savings on a refinance

When to Refinance Your Mortgage: Key Factors for Lowering Costs

By Scott Sheldon / November 6, 2024

When to Refinance Your Mortgage: Key Factors for Lowering Costs If you’ve bought a home recently or are considering lowering your mortgage rate, knowing when to refinance can make a significant financial difference. Many homeowners are looking for opportunities to reduce monthly payments or eliminate private mortgage insurance (PMI). Here are essential guidelines to help…

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