The Mortgage Files

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

how to time when to buy a home

How time to the market to buy a home

By Scott Sheldon / November 5, 2023

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…

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How your financial experience might hinder your ability to get a mortgage loa

How your financial experience might hinder your ability to get a mortgage loan

By Scott Sheldon / October 23, 2023

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…

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Should you buy a home in cash or finance it?

Should you buy a home in cash or finance it?

By Scott Sheldon / October 8, 2023

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…

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can you buy a house with less than 600 credit score?

Can you buy a house with a less than 600 credit score?

By Scott Sheldon / October 1, 2023

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…

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Mortgage loan programs for unconventional scenarios

Mortgage loan programs for unconventional scenarios

By Scott Sheldon / September 10, 2023

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…

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Should you buy a house or wait for the market to improve?

5 signs you should wait to buy a house

By Scott Sheldon / June 25, 2023

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…

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How hourly wages impact mortgage loan approvals

Why hourly wage earners sometimes have a hard time getting a home loan

By Scott Sheldon / May 9, 2023

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…

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When you’re applying for a home loan, make sure you tell your lender everything

When you’re applying for a home loan, make sure you tell your lender everything

By Scott Sheldon / April 23, 2023

If you’re thinking about getting prequalified to buy a home, maybe you have some issues with your credit history in the past, or maybe you cosigned for someone else’s property. These are the types of things you might think might not matter to a mortgage company granting your home loan, but they do matter. If…

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