The Mortgage Files

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

the credit score it takes to get a mortgage

Why the credit score you think you have might not be correct for a mortgage

By Scott Sheldon / January 7, 2018

Consumers thinking about getting a mortgage should know where they stand. Here is what you might not know about your credit score when it comes to applying for a mortgage. The truth is not all credit reports are created equal. Many of the consumer credit reporting services that are available in the market place today…

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Why you shouldn't be solely focused on credit when it comes to getting a mortgage

How to get a mortgage with a credit score under 620

By Scott Sheldon / July 22, 2017

Here is what most banks and mortgage companies will not tell you. If you have a bad credit score they don’t want your business. It’s the truth. Every financial institution wants borrowers with good credit, a healthy down payment, a stable job and low manageable debts. The reality is that most people don’t fit the…

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How Buying A Home Will Make You More Credit Worthy

How Buying A Home Will Make You More Credit Worthy

By Scott Sheldon / June 5, 2015

If you have never owned a home before or it’s been a few years since you have, you’re missing out on credit advantages. That’s right, when you buy a home you automatically become more credit worthy. Remember these tips when inking a real estate deal… Recorded Legal Transaction When you rent, you have an agreement…

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Scott Sheldon's The Mortgage FIles Blog

How To Prevent Common Surprises In The Mortgage Loan Process

By Scott Sheldon / May 7, 2015

All too often, the water cooler talk circulates and the stories about mortgage companies dropping the ball become ingrained with would be borrowers and the real estate community alike. How to stop changes before they happen… Rates & Loan Fees Change Fees changing and rising, sting the most. Nothing is more frustrating for a consumer…

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Scott Sheldon's The Mortgage FIles Blog

Will Paying Off My Mortgage Hurt My Credit Score?

By Scott Sheldon / May 2, 2015

No one actually wants a mortgage. A mortgage is simply a means to an end, if you don’t have the cash. Ridding yourself of the financial obligation is the next best thing, but could it come at the expense of your credit score? What to know… Mortgage Affects On Credit Score Nothing can help or…

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