The Mortgage Files

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

How assumable mortgage loans work

How assumable mortgage loans work

By Scott Sheldon / December 11, 2022

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…

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How 2-1 and 3-2-1 Buydown works when buying a home

How to buy a home 2-1 and 3-2-1 Buydown Program

By Scott Sheldon / November 27, 2022

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,…

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purchase or rate to buy a home

Is the mortgage rate or the purchase price you pay for a home more important?

By Scott Sheldon / November 13, 2022

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…

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Why are current mortgage rates so high?

Why are current mortgage rates so high?

By Scott Sheldon / November 6, 2022

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…

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5 reasons you're not ready to buy a home

5 reasons you’re not ready to buy a home

By Scott Sheldon / October 30, 2022

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…

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Should you refinance to become more lendable?

Should you refinance to become more lendable?

By sonomacountym / October 16, 2022

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……

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does waiting for the right time to buy a home make economic sense?

Does waiting for the right time to buy a home make economic sense?

By Scott Sheldon / October 9, 2022

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…  …

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Should you buy a house in this real estate market

Should you buy a house in this real estate market?

By Scott Sheldon / October 3, 2022

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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