The Mortgage Files

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

2022 conventional, FHA, VA, loan limits now rise

By Scott Sheldon / December 6, 2021

If you’ve been on the sidelines for residential financing, or you’re thinking about doing a loan, and you’ve had some difficulty as it relates to borrowing money for home mortgage financing. The new loan limits for 2022 could help bridge the gap from where you are to where you’re going in support of your financial…

You can refinance with up to 65% debt to income ratio

By Scott Sheldon / December 5, 2021

For many people looking to save money. Refinancing can prove to be a very financially beneficial outlet. If you’ve tried to qualify for a mortgage before or have had some income challenges in your business or due to Covid- 19 for example here are some things to be aware of as it pertains to refinancing…

The new credit score you need to get a mortgage

By Scott Sheldon / November 28, 2021

It was recently announced there’s a credit score change to conventional loans. This credit score change is now shaping the way families can procure a mortgage. If your credit score needs a little bit of love, and where you should be concerned about your credit score.  FHA mortgages require a 580-credit score with most banks…

3 things to know that make your mortgage difficult

By Scott Sheldon / November 21, 2021

Most people understand that getting mortgage financing is not the most fun thing in the world to do.  There’s an examination that takes place which is these requests for paperwork on the process and these requests for paperwork in the process can sometimes, for someone that doesn’t have familiarity with the mortgage process make it…

Signs you’re not ready to buy a house

By Scott Sheldon / November 14, 2021

Everyone wants to purchase a house and buying a home is considered the American dream. However, not everyone is ready to buy a house, and here are some things you might want to give some consideration to as it pertains to whether not you should or should not buy a home.   You must have…

What may happen with interest rates in 2023

By Scott Sheldon / November 7, 2021

With an unknown future, and the broader economy still recovering from the pandemic. What’s to happen with interest rates? Well, it’s. Well, interest rates typically improve on bad economic news. If you haven’t been watching the market, pay close attention to the following information… Generally, in the world of mortgages interest rates drive home buying…

Don’t be an “I don’t want to waste your time” mortgage consumer

By Scott Sheldon / November 3, 2021

Mortgage companies must look at the overall picture in helping you qualify to purchase or refinance a home. If you think you might not qualify or there’s something in your financial picture, the lender still must look at the overall financial scenario to see if they can help you. So, if you think that there’s…

Why these 2 factors drive housing prices above all else

By Scott Sheldon / October 31, 2021

People are astonished at how housing prices are so strong right now. These 2 Housing factors are playing a very important role in the housing market. More importantly in one’s ability to decide to purchase a home Your income people. Do not buy houses unless they’re feeling good about their income. More specifically, their job…