The Mortgage Files

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

Stop blaming the long program because you can't get into contract. This is a real estate agent problem not a mortgage problem.

Why its a real estate problem, not a mortgage problem

By Scott Sheldon / October 20, 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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Why you shouldn't be solely focused on credit when it comes to getting a mortgage

How mortgage borrowers can hurt their chances for obtaining credit

By Scott Sheldon / March 2, 2018

Avoid these common credit blunders when applying for home loan The mortgage industry relies on accurate credit reporting to make credit decisions when granting people home mortgages. Here’s some of the things that can hurt your mortgage chances and how to not only your credit score, but your odds of getting approved… With the amount…

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auto loan payment to income for a mortgage

How you skip a payment when you refinance

By Scott Sheldon / February 16, 2018

Refinancing your house is a big decision and requires careful consideration of the mortgage loan program, interest rate, fees and more importantly the longer-term financial goals. Here’s what really happens when you refinance your house and skip a payment… Mortgage interest is calculated in arrears. Put another way, when you make mortgage payment due on…

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