The Mortgage Files

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

Why a 6 Month job gap on your FHA Mortgage could be an issue

Why a 6 Month job gap on your FHA Mortgage could be an issue

By Scott Sheldon / November 26, 2023

If you are buying or refinancing a home and you’re getting an FHA Mortgage and you’ve had a job in the last six months, this information is going to be particularly important as relates to getting a home loan.  The following is what you need to know… If you are getting an FHA mortgage loan…

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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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why being a picky home buyer could be an issue

Why being choosy as home buyer could be problematic

By Scott Sheldon / October 29, 2023

You’ve decided to buy a home, you’ve gotten preapproved with a lender, your file has even been pre-underwritten. Here are some things you might want to give some consideration to- what you want versus what the market might support… Here’s to considerations to think about.. Consideration one- Let’s say you’re pre-approved to $700,000, the house…

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Does the house you want to buy need work?

Does the house you want to buy need work?

By Scott Sheldon / October 15, 2023

As you get preapproved and embark on your homebuying journey, you will soon discover an array of different homes. Some homes are in good condition, some in excellent condition and others perhaps in poor condition. Here are some things to consider as it relates to whether the house truly needs work when deciding to make…

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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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hy to plan for the long term when buying a home

Why to plan for the long term when buying a home

By Scott Sheldon / September 3, 2023

Getting your piece of the American dream, buying a home, it’s one of the pivotal moments in life. It can for many families be bedrock by which future happy family memories are made… Real estate is a buy and hold game and interest rates should have no bearing on your long-term financial plans for owning…

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Why rising interest rates can be good news for some homebuyers

Why rising interest rates can be good news for some homebuyers

By Scott Sheldon / August 20, 2023

Rising interest rates, for some homebuyers, can be beneficial. While it is true, rising interest rates do diminish purchasing power for the right situation, it actually could be beneficial. Here is what to know… Most people look at the big picture. They look at interest rates, the cost of funds and make a determination about…

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Should you buy a single family or mobile home?

Should you buy a single family or mobile home?

By Scott Sheldon / August 13, 2023

Buying a home is a big decision, and deciding what type of home can be an even bigger one. If you are trying to decide to what purchase considering the following… Single family homes contain lower interest the lowest interest rates and provide the most amount of financing options. These types of properties are also…

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