The Mortgage Files

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

Now or later?

Should You Buy a Home Now Or Wait for Lower Rates in 2025?

By Scott Sheldon / April 10, 2025

Should you Buy a Home Now at 6.5% to 7% Interest, or Wait? Let’s address the elephant in the room: mortgage interest rates. If you’re asking, “Are rates going to drop soon, or should I buy now at 6.5–7%?” you’re not alone. This question is everywhere right now, and honestly—it’s a fair one. Rates have…

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Down Payment assistance

Down Payment Assistance Programs in California: What You Need to Know in 2025

By Scott Sheldon / April 9, 2025

What Down Payment Assistance Programs Are Available—and Do I Qualify? If you’re trying to buy your first home and wondering how to come up with a down payment, you’re not alone. With higher home prices and interest rates in the 6.5% to 7% range, more buyers are actively searching for help with their down payment…

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"A proud military veteran standing in front of their newly purchased home, holding house keys with a smile. An American flag is displayed outside, symbolizing homeownership and VA loan benefits.

Pro Tips for VA Loans: What Most Lenders Don’t Know

By Scott Sheldon / February 27, 2025

If you’re a military veteran looking to purchase or refinance a home using a VA loan, there are several lesser-known benefits and rules that can make the process easier. Many mortgage lenders are unaware of these details, so it’s essential to educate yourself to maximize the advantages of your VA loan. Here are some key…

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"Modern suburban home with a For Sale sign—navigating FHA vs. conventional loan options."

Should I Switch from FHA to Conventional? What You Need to Know

By Scott Sheldon / February 19, 2025

’ve done everything right. You sent your documents to the lender, got preapproved, and now you’re actively house hunting. Maybe it’s been a few weeks since you got your initial FHA preapproval. You’ve seen some homes, made a few offers, but nothing has gone into contract yet. Then, you hear the question: Should I switch…

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Divorced couple reviewing mortgage documents at a table, discussing financial decisions for a home buyout, refinance, or sale. The setting is a modern home with a neutral color palette, reflecting the emotional yet professional nature of the process.

How to Navigate a Mortgage Buyout in a Divorce

By Scott Sheldon / February 3, 2025

Divorce is already stressful, and when a mortgage is involved, things can get even trickier. If you and your spouse purchased a home together and now need to figure out what happens next, there are a few key things you should know—especially if you have a conventional loan. Let’s break it down step by step.…

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Side-by-side comparison of FHA and conventional loans with highlights of key differences, including PMI and down payments

FHA Loan vs. Conventional Loan: Which Is Best for Your Home Purchase?

By Scott Sheldon / December 18, 2024

Deciding between an FHA loan and a conventional loan for your home purchase is an important choice that depends on your financial situation and goals. Both loan options have distinct benefits and considerations, so let’s break down the key differences to help you make the best decision for your needs. A 5% down conventional loan…

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Image of a modern house with a document titled 'Refinance Agreement' and a split keychain symbolizing a divorce settlement. The scene includes subtle financial elements like a calculator and pen, emphasizing the mortgage refinancing process

How to Structure a Divorce Buyout as a Limited Cash-Out Refinance with Fannie Mae

By Scott Sheldon / December 4, 2024

Divorce is already an emotional and challenging process, and figuring out how to handle property settlements can add another layer of stress. If you’re looking for a way to buy out your ex-spouse’s share of your home, a limited cash-out refinance under Fannie Mae guidelines could be the ideal solution. This approach simplifies the settlement…

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A vibrant depiction of the Sonoma County real estate market, showcasing modern single-family homes surrounded by vineyards and rolling hills under a clear blue sky, symbolizing opportunities with the 2025 conforming loan limits increase.

2025 Conforming Loan Limits Rise: Boosting Opportunities for Sonoma County Homebuyers and Sellers

By Scott Sheldon / November 26, 2024

2025 Conforming Loan Limits: What It Means for Sonoma County Buyers and Sellers The Federal Housing Finance Agency (FHFA) has announced an increase in the baseline conforming loan limit for single-family homes to $806,500 in 2025, a 5.2% rise from the 2024 limit of $766,550. In high-cost areas like Sonoma County, California, the conforming loan…

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