The Mortgage Files

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

refinancing adjustable rate mortgage

5 Important Things To Consider When Refinancing To A Fixed Rate Mortgage

By Scott Sheldon / December 10, 2015

If you have an adjustable rate mortgage on your home, here the 5 prudent factors to weigh in on when refinancing to fixed rate loan type…. Duration of Introductory Rate Period Most adjustable rate mortgages are fixed for first few years in the introductory period, and then become variable for the remainder of the duration…

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2018 high balance mortgage loans

How To Save When Refinancing A Mortgage Bigger Than 417k

By Scott Sheldon / June 12, 2015

If recent mortgage rate movement has spooked you into refinancing, you’ll want make sure to pay particularly close attention if your loan size is bigger than $417,000. Jumbo investors in the marketplace are offering lucrative rates and deals. Which Investor Plays a Role It does not matter where you apply for a mortgage. Whether you…

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Think You Can't Buy A House Because Its A Seller's Market?

By Scott Sheldon / December 21, 2014

Have you decided to put off purchasing a home? If you’re worried you’re paying too much for a house- think again. Here’s why: Higher Home Prices Let’s take a pause and rewind to 2012, the unemployment rate exceeded 8%, short sales and foreclosures were rampant, consumer confidence was low, the prospectus of job growth was…

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Will "Qualified Mortgages" Help Consumers?

By Scott Sheldon / January 13, 2013

On January 10, 2013, the Consumer Financial Protection Bureau unveiled new rules to help protect consumers from unscrupulous mortgage lending. These rules implement underwriting criteria what constitutes a “qualified mortgage”.  As long as the mortgage lender meets certain criteria, the consumer cannot sue a lender for not verifying income, providing a loan to a consumer…

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Higher Mortgage Rates For Conforming High Balance Mortgages

By Scott Sheldon / December 18, 2012

If you are in the market for a mortgage refinance or home purchase, plan to pay more if you are borrowing more than the conforming loan limit. The national conforming loan limit for the best mortgage rates is $417,000 extending through December 31, 2013. If your loan is up to $417,000 or lower, generally you’ll…

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Selecting The Right Home Loan Program

By Scott Sheldon / September 14, 2011

With the small variety of home loan programs available today selecting the right home loan program is easier now more than ever. There are lots of different options available for both purchases and refinances. For this blog post we are going to be discussing purchase loan programs. With a decent credit score, documented job stability/income…

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Scott Sheldon's The Mortgage FIles Blog

*Mortgage Tip: How To Get Best Rates For Jumbo Loans

By Scott Sheldon / August 7, 2011

Here’s a mortgage tip: if you are looking for the best interest rate on a Jumbo Loan consider a 5, 7, or 10 year product. The availability of Jumbo Loans in Sonoma County through a Fannie/Freddie Lender have nearly evaporated since 2007. However in the last several months, Jumbo have re-emerged as an available product…

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