The Mortgage Files

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

Can you buy a house with no credit?

Can you buy a house with no credit?

By Scott Sheldon / October 17, 2021

If you’re trying to buy a home, you’re preapproved, and you’ve been making offers, but you keep losing out because you have multiple offers, here are some things you need to consider. 1st things 1st, this is provided that your loan is fully intact, that you are well qualified, and that the loan essentially is…

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6 common mortgage loan scenarios you cannot circumnavigate

Be wary about paying off this type of debt when getting a home mortgage

By Scott Sheldon / March 5, 2019

Most mortgage companies will let you pay off debt to qualify for a mortgage. The beauty of doing so is borrowing power increase. Here’s what you know when paying off debt to getting a bigger mortgage amount…. Paying off debt to qualify is a wonderful way to drive borrowing power. For example, let’s say you…

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payment to income for a car loan mortgage

How much of your mortgage income should be going towards an auto loan

By Scott Sheldon / January 15, 2019

Buying a house can always be a daunting consuming feat. Caring consumer obligations such as car loans can further complicate a picture of that otherwise could be more financially lucrative. When you carry on a car debt whether it’s at lease payment or whether it’s a financed payment you’re handcuffing a portion of your future…

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how a car loan can impede your sonoma county home buying plan

Axing The Car Lease May Help Your Home Buying Efforts

By Scott Sheldon / December 31, 2015

Obtaining financing to buy a home is undoubtedly a process of documenting, explaining and documenting some more.  Here is how a car lease can be a hurdle for home buying plan. Work-around options… What You Pay Counts When you apply for a mortgage loan, a mortgage broker is going tally up total payments you make…

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