The Mortgage Files

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

be careful getting a mortgage with a bankruptcy

Be careful getting a mortgage if you have a bankruptcy

By Scott Sheldon / May 26, 2019

A bankruptcy can possibly be a detrimental blow to your mortgage chances if it’s not handled in the right way. Following is what you should take into consideration if you have a bankruptcy in your past or will be filing an upcoming bankruptcy… First things first for our purposes we are discussing a Chapter 7…

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hy to plan for the long term when buying a home

Should you do a cash-out refinance or get a home equity line of credit?

By Scott Sheldon / May 19, 2019

As mortgage rates continue to remain flat, it might not be a bad thing to consider really weighing out both options of getting a home equity line of credit or doing a Cash out refinance for that home improvement project or debt consolidation you have been thinking about. If you’re looking to pull money out…

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how the ppp loan may hurt your mortgage

Does your mortgage lender know how to do purchase business?

By Scott Sheldon / May 12, 2019

Purchasing a home is a large financial move and there is a ton of details that go into the process; including everything from getting a mortgage to finding the right house in the right neighborhood within the area and location your desiring to purchase in. Then there’s crafting the offer and packaging it in a…

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bank statement program for getting a mortgage

How a bank statement program might help you get a mortgage more easily

By Scott Sheldon / April 23, 2019

One of the challenges some families may have when seeking a mortgage is not showing enough income on paper via tax returns to qualify. Here’s some nuances about bank statement programs that might help you land a mortgage more successfully… Traditionally when getting a mortgage most mortgage companies are going to want your W-2s or…

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Minimum credit scores changing on mortgage programs to do to Coronavirus

Why waiting to pull credit may not make sense for getting a mortgage

By Scott Sheldon / April 16, 2019

Everyone wants to be a credit expert especially when it comes time to getting a mortgage. The unfortunate truth is most people do not have the expertise or time to accurately enhance their credit scores. If you’re trying to work on your credit for getting a mortgage here’s what you should plan for… There are…

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why the va mortgage is the best home loan

Why the VA mortgage is the best home loan

By Scott Sheldon / April 9, 2019

If you served in the military a VA mortgage if you can qualify supports, the maximal amount of borrowing power with the lowest possible payment. Here are some things to consider when looking at a VA mortgage… The US Department of Veterans Affairs guarantees loans up to 100% loan to value for purchase rate and…

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buy a home now vs waiting

Here’s what you should be focused on when buying a home and it’s not the purchase price

By Scott Sheldon / April 5, 2019

Buying a home for the first time or even a second or third time is a detailed and meticulous endeavor that should be carefully considered by weighing out all your options. Consider this when buying a home with a mortgage… The problem homebuyers can sometimes run into is it they get so wrapped around the…

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first time home buyer researching

Here’s how to get the most benefit from your first-time home buyer researching

By Scott Sheldon / March 19, 2019

As a first-time home buyer taking the plunge to home ownership is a big step. You need to be feeling good about your personal debts and cash flow. Here is what you want to consider when researching so you can make the most informed home buying decision… The things you should consider when deciding whether…

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