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 ex can make your mortgage application difficult

Your ex can make your mortgage application difficult

By Scott Sheldon / February 27, 2022

You’re trying to purchase or refinance a home. You have an ex that you’re dealing with that you were either married to or on the title to a property with. The mortgage process depends on what that communication looks like with that other person. It could be very easy or more technical and challenging. Yes,…

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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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New Fannie Mae rule for using social security income to get a mortgage

Federal reserve hikes interest rates

By Scott Sheldon / January 30, 2022

Probably the biggest misnomer in mortgage finance is what consumers’ interest rates do when the Federal Reserve hikes interest rates up. The Federal Reserve is trying to control and stimulate the economy or slow down the economy based on economic conditions. What they do or don’t do, does influence mortgage rates. But it is not…

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What's going to happen with interest rates in 2022

What’s going to happen with interest rates in 2022

By Scott Sheldon / January 2, 2022

One of the big questions on the minds of consumers looking to purchase or refinance a home is what’s going to happen with interest rates in 2022. Interest rates, while they remain at historical lows, may experience some movement in 2022. Here’s what you should come to expect if you’re going to be buying a…

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How to purchase a house with a partial down payment

How to purchase a house with a partial down payment

By Scott Sheldon / December 12, 2021

How do you buy a house with not quite enough money? Contrary to popular belief you can buy a house even if you don’t have enough money to do it. It’s a little technical but it’s going to require you, your realtor, and your lender to put your heads together. Here’s how it can be…

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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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