The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Why 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…
Read More2023 Confirming Loan Limit Rise
The federal housing finance agency recently released its 2023 conforming loan limit. The new loan limit for 2023 is $715,000. Here is what this means if you’re purchasing or refinancing a home… Each year the Federal Housing Finance Agency which oversees Fannie Mae and Freddie Mac releases its annual loan limit. The annual loan limit…
Read MoreWays to handle a mortgage payment when buying a home
Consumers who are preapproved and looking to buy a home are sometimes getting shell shock as relates to the mortgage payment. The rate, the purchase price, and the cash-to-close may change the cost to buy a home. Here are things you might want to do if you are buying a house… We are presently in…
Read MoreShould you cash out refinance or get a home equity line of credit?
Inflation is hitting consumers right and left. Seems like everything is going up these days and one of the most expensive types of debt has just got even more expensive- consumer loans. If you have consumer loans including student loans, personal loans, even a home equity line of credit, or credit cards expect the costs…
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