The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Why a 6 Month job gap on your FHA Mortgage could be an issue
If you are buying or refinancing a home and you’re getting an FHA Mortgage and you’ve had a job in the last six months, this information is going to be particularly important as relates to getting a home loan. The following is what you need to know… If you are getting an FHA mortgage loan…
Read More about Why a 6 Month job gap on your FHA Mortgage could be an issueHow time to the market to buy a home
Everyone looking to buy a house is looking to get a “deal” to some degree. The home has to fit within the monthly budget in support of a sound financial decision. Part of this process is identifying marketing time so you can buy a home successfully… The great investor warren, Buffett has been quoted of…
Read More about How time to the market to buy a homeHow your financial experience might hinder your ability to get a mortgage loan
Getting a loan to buy a home is a maze of questions, examinations, along with an array of emotions. Here are some things to consider that might hinder your ability to get a mortgage loan… You have a strong financial situation. Let’s say you’ve got strong income and or revenue within your business, excellent credit, cash…
Read More about How your financial experience might hinder your ability to get a mortgage loanShould you buy a home in cash or finance it?
If you’re looking to buy a house and you have the economic means to do so, you might be considering whether it makes sense to buy the house in cash and be mortgage free or take out mortgage loan. At the end of the day, it boils down to personal preference, However, before you make…
Read More about Should you buy a home in cash or finance it?Can you buy a house with a less than 600 credit score?
For families were looking to buy a home one of the biggest setbacks people have been their credit score. The better the credit score the more likelihood you can get a loan. Everyone knows this, however, if your credit score needs a little bit of love, believe it or not there’s a mortgage loan programs…
Read More about Can you buy a house with a less than 600 credit score?Mortgage loan programs for unconventional scenarios
If you’re trying to get a home loan to purchase a home, but you’re self-employed, and have some unique sources of income, or don’t show income on tax returns. there are still programs out there. The following are some examples of non-traditional options that might help you as it relates to successfully getting a mortgage…
Read More about Mortgage loan programs for unconventional scenarios5 signs you should wait to buy a house
If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…
Read More about 5 signs you should wait to buy a houseWhy hourly wage earners sometimes have a hard time getting a home loan
You’re all excited to purchase your first home, you have a good job, you have a good down payment, and you’ve got a good credit score. What could go wrong, right? Here’s an occurrence that happens pretty frequently you might not know about and more specifically what to do about it as it relates to…
Read More about Why hourly wage earners sometimes have a hard time getting a home loan