The Mortgage Files

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

3 pricey mortgage loan scenarios to watch for

By Scott Sheldon / November 24, 2019

When it comes to purchasing or refinancing a house one of the factors that can play a role in your ability to secure financing is your credit score, your property type and the purpose of what you’re desiring to secure that mortgage for. Here are some things to consider if you fall into one of…

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…

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…

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…

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…

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…