The Mortgage Files

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

why your mortgage goals why not happen

The factors that determine your loan fees

By Scott Sheldon / January 5, 2017

Costs to secure your financing are a big factor when it comes time to getting a mortgage. Knowing why your loan costs (X) dollars is critical in being able to better understand how lenders price loans in the marketplace. This is what you need to know… All loans have fees. All fees are paid for by…

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How to get a mortgage for a manufactured home without mortgage insurance

By Scott Sheldon / December 23, 2016

If you own a manufactured home, or if you are looking to purchase one, here is what you need to know when it comes to mortgage loan financing: Manufactured homes are not the same thing as modular homes. Manufactured homes are constructed, purchased at a dealer, and then moved to their final destination where they…

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One really smart move to best prepare for getting a mortgage

By Scott Sheldon / September 11, 2016

Securing mortgage loan financing requires a laundry list of paperwork. Here’s a really simple tip you can take to the bank to make sure your process is easy while getting the best mortgage… Every year you gather together paperwork for doing your tax returns things like; receipts, explanations, paystubs and W-2s. 70% of this information…

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How to evaluate buying a rental property

By Scott Sheldon / September 6, 2016

Buying a rental property can be very lucrative and sound financial vestment. Here’s how to determine whether not buying a rental property with financing makes sense. Location, location, location Location for the property is critical. It is often thought a rental property is more dollars and cents transaction with less focus on location. While this…

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The new way to buy a house in Sonoma county

Can you really afford the home? Here is what banks will not share

By Scott Sheldon / June 21, 2016

Just because the bank will let you buy more does not mean you should. Be a well informed home buyer by taking the following tips into consideration when making the big ticket decision… Banks are for profit. They make money by making loans and it is up to you the consumer to decide when, how…

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Is down payment assistance worth it to a buy a home?

By Scott Sheldon / June 6, 2016

If you’re looking to buy a house with little or no cash your options may be limited. Here is what you need to know to get your foot in the door, successfully… Down payment assistance programs Down payment assistance can be sponsored by a local state or government entity or entity grant. Essentially, down payment…

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New underwriting guidelines coming June 25 may change your mortgage

By Scott Sheldon / April 28, 2016

New changes coming to Fannie Mae’s automated underwriting system June 25 could change the way you get a mortgage. Here’s how… Fannie Mae has announced the way they look at credit is about to change for all loan applications dated June 25, 2016 or after. Lenders use Fannie Mae’s automated underwriting system (Desktop Underwriter) for…

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Buy a condo or a single family home?

By Scott Sheldon / April 8, 2016

When the time homes to buy your first home, you will have options galore. Here’s how to decide if you should purchase a single-family home or a more affordable condominium unit. Undoubtedly, buying a home is without doubt the largest financial decision you’ll probably make in your lifetime. It is critical to make sure the…

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