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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Should you buy a more expensive home?

Should you buy a more expensive home?

By Scott Sheldon / November 12, 2023

For families looking to purchase a home, a mortgage payment, and price of the home can go hand-in-hand decision making. If you find a house that could be a good fit for you and your family, but it seems a bit out of reach. Here are some things you might want to take some consideration…

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How your financial experience might hinder your ability to get a mortgage loa

How your financial experience might hinder your ability to get a mortgage loan

By Scott Sheldon / October 23, 2023

Getting a loan to buy a home is a maze of questions, examinations, along with an array of emotions. Here are some things to consider that might hinder your ability to get a mortgage loan… You have a strong financial situation. Let’s say you’ve got strong income and or revenue within your business, excellent credit, cash…

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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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are usda loans worth the hype

Are USDA loans worth the hype?

By Scott Sheldon / September 24, 2023

The US Department of Agriculture guarantees loans for certain families in certain geographic locations. These loans can be potentially an affordable loan program to help a family who doesn’t have a down payment buy a home in an area considered to be less industrialized a.k.a. agricultural. If you’re looking to get a USDA loan, here…

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How to align expectations with market conditions to buy a home

How to align expectations with market conditions to buy a home

By Scott Sheldon / September 17, 2023

You have decided to you want to buy a home. You supply the lender with all your paperwork, and you know you can afford a mortgage even if it’s a little outside of your payment comfort, but for whatever reason you just can’t seem to get into a contract. The stars are not aligning, which,…

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Does the house you want to buy need work?

Here’s how your homebuying options change when interest rates fall

By Scott Sheldon / August 27, 2023

You and your family are thinking about buying a home, but the prospect of a 6.5-7.0% mortgage doesn’t sound all that appealing right? Do you want interest rates to come down so you can have a more affordable mortgage? This makes sense, but it’s a deeper problem and here are some things you should be…

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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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