The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
How assumable mortgage loans work
If you’ve been thinking about buying a home and have been discouraged about interest rates you might be able to assume the seller’s mortgage. Think it’s too good to be true? It’s not. Here’s some information that you might need to know as it relates to assuming someone else’s mortgage when buying a home… Let’s…
Read MoreHow to buy a home 2-1 and 3-2-1 Buydown Program
If you’re thinking about purchasing a home and you’re worried about the mortgage payment. Fear not, some, but not all mortgage companies might offer a buy-down program allowing you to get a below-market interest rate… It’s no surprise mortgage rates are presently on the higher side averaging 6.4 to 6.99 depending on your credit score,…
Read MoreIs the mortgage rate or the purchase price you pay for a home more important?
If you’ve been thinking about purchasing a home and you’ve been on the fence because you’re just not sure about the right time, the information that’s going to follow is for you… Trying to time the market to identify a moment in time to pinpoint the right time to purchase a home is an incredibly…
Read MoreWhy are current mortgage rates so high?
People who are thinking about getting a mortgage to buy or refinance a home are having shell shock relating to the costs associated with doing a mortgage transaction. It’s not as simple as inflation to why mortgage rates are so high. Here’s some information that explains not only why mortgage rates are so high, but…
Read More5 reasons you’re not ready to buy a home
Buying a home is considered to be the American dream. Buying a home however is also not for everyone as it requires careful consideration of planning, a little bit of success, and the right people working for you. Just because you can buy a home doesn’t necessarily mean that you should. Here are five reasons…
Read MoreShould you refinance to become more lendable?
Most families who own homes generally don’t want to refinance unless they can lower their interest rate, pay off debt, consolidate obligations, and/or fix up their homes. Those are all tangible benefits associated with refinancing your home. There are some other things you might want to consider particularly if your situation has some financial obstacles……
Read MoreDoes waiting for the right time to buy a home make economic sense?
If you’ve been thinking about whether you should purchase a home, you might want to think about applying with a lender. This helps to get a read on where you are financial picture. If you’ve been thinking about purchasing a home, but you’re just not quite sure yet here are some things to consider… …
Read MoreShould you buy a house in this real estate market?
For many, the idea of buying a home is the American dream. The home purchase needs to be within your monthly budget. Here are things to consider in today’s present real estate market and how you can use those to your financial advantage as it relates to buying a family home… It’s no surprise interest…
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