The Mortgage Files

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

Should you refinance with your current mortgage servicer?

Should you refinance your current mortgage?

By Scott Sheldon / March 6, 2022

People looking to refinance their homes are always looking for a good deal. It goes without saying you’ll want to do the best you can for yourself financially. Get the best combination of rate, price, and customer service. Here are some things that you should give some consideration to when choosing who to work with…

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How your credit cards shape your ability to get a mortgage

How your credit cards shape your ability to get a mortgage

By Scott Sheldon / February 6, 2022

Maintaining a personal budget and having a good financial plan associated with your income is a good 1st step in preparing yourself to get mortgage loan financing. Whether you are buying a home or refinancing, consumer debts matter. It can make or break your situation. Here are some things you might want to give some…

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Will co-signing on someone else's mortgage hurt my mortgage chances?

Will co-signing on someone else’s mortgage hurt my mortgage chances?

By Scott Sheldon / January 23, 2022

One of the most misunderstood things in the areas of mortgage finance is cosigning. What it means, what it does for the loan, and what it does to your financial future. It’s a bit murky what the reality is versus what you may hear or read. If you are thinking about cosigning, or you’ve been…

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2022 conventional, FHA, VA, loan limits now rise

2022 conventional, FHA, VA, loan limits now rise

By Scott Sheldon / December 6, 2021

If you’ve been on the sidelines for residential financing, or you’re thinking about doing a loan, and you’ve had some difficulty as it relates to borrowing money for home mortgage financing. The new loan limits for 2022 could help bridge the gap from where you are to where you’re going in support of your financial…

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You can refinance with up to 65% debt to income ratio

You can refinance with up to 65% debt to income ratio

By Scott Sheldon / December 5, 2021

For many people looking to save money. Refinancing can prove to be a very financially beneficial outlet. If you’ve tried to qualify for a mortgage before or have had some income challenges in your business or due to Covid- 19 for example here are some things to be aware of as it pertains to refinancing…

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Why you should wait for your credit to improve before applying for a mortgage

The new credit score you need to get a mortgage

By Scott Sheldon / November 28, 2021

It was recently announced there’s a credit score change to conventional loans. This credit score change is now shaping the way families can procure a mortgage. If your credit score needs a little bit of love, and where you should be concerned about your credit score.  FHA mortgages require a 580-credit score with most banks…

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Signs you're not ready to buy a house

Signs you’re not ready to buy a house

By Scott Sheldon / November 14, 2021

Everyone wants to purchase a house and buying a home is considered the American dream. However, not everyone is ready to buy a house, and here are some things you might want to give some consideration to as it pertains to whether not you should or should not buy a home.   You must have…

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mortgage loan investment for ROI

How to increase your investment rate of return using mortgage financing

By Scott Sheldon / September 26, 2021

If you’re looking to get a good return on your money, and you’re looking at bank accounts, you might want to consider paying down your mortgage balance. Before you do, here are some things you should consider… Most bank accounts generate paltry rates of return. Those returns are not getting you any interest on your…

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