The Mortgage Files

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

how a recession could impact your home buying

How a future recession may impact your plan to buy a home

By Scott Sheldon / November 20, 2022

If you’ve been thinking about purchasing a home and you’ve been on the fence because of economic conditions. The following information could assist you in helping to determine when and/or if you should purchase a home… The concern many home buyers have right now is “I want to wait and see”.  Purchasing a home in…

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Why your income is the biggest driver of purchasing power

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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Does the house you want to buy need work?

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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5 practical ways to improve purchasing power when buying a home

Ways to handle a mortgage payment when buying a home

By sonomacountym / September 11, 2022

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…

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What is a non-qualified mortgage and why do these loan types cost more?mortgage

Should you take out an adjustable rate mortgage?

By Scott Sheldon / September 4, 2022

With interest rates as high as they are consumers want adjustable-rate mortgages for payment relief. If you’re thinking about an adjustable-rate mortgage versus a fixed-rate mortgage here are some things, you need to be aware of… The first few years of the mortgage loan are called a teaser rate.  A teaser rate is short-term and…

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