The Mortgage Files

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

Does the house you want to buy need work?

Does the house you want to buy need work?

By Scott Sheldon / October 15, 2023

As you get preapproved and embark on your homebuying journey, you will soon discover an array of different homes. Some homes are in good condition, some in excellent condition and others perhaps in poor condition. Here are some things to consider as it relates to whether the house truly needs work when deciding to make…

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hy to plan for the long term when buying a home

Why to plan for the long term when buying a home

By Scott Sheldon / September 3, 2023

Getting your piece of the American dream, buying a home, it’s one of the pivotal moments in life. It can for many families be bedrock by which future happy family memories are made… Real estate is a buy and hold game and interest rates should have no bearing on your long-term financial plans for owning…

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Here is a smart mortgage strategy for buying a home in 2023

Here is a smart mortgage strategy for buying a home in 2023

By Scott Sheldon / June 11, 2023

If you’ve been on the fence about buying a home and you’re thinking about potentially getting prequalified. Here are some things you should give some consideration to… You might be telling yourself “I don’t want to buy a home right now because interest rates are kind of high.”  The question becomes in relation to what?…

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is a down payment assistance loan a good idea?

Is a down payment assistance loan to buy a home a good idea?

By Scott Sheldon / February 12, 2023

For those looking to purchase real estate particularly first-time home buyers, the notion of a down payment assistance loan where you need very little or no money to close escrow could be a very attractive option. Here are some things to consider if you’re evaluating a low or down-payment mortgage loan…  Down payment assistance loans…

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What's the minimum down payment to buy a home?

What’s the minimum down payment to buy a home?

By Scott Sheldon / July 6, 2022

The Internet does a wonderful job of supplying different information about the minimum down payment you need to buy a home. Read one article you’ll have an idea of what it would take, read another article, and its completely different information. So, how do you assimilate an endless amount of online information as it relates…

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3 things to know that make your mortgage difficult

3 things to know that make your mortgage difficult

By Scott Sheldon / November 21, 2021

Most people understand that getting mortgage financing is not the most fun thing in the world to do.  There’s an examination that takes place which is these requests for paperwork on the process and these requests for paperwork in the process can sometimes, for someone that doesn’t have familiarity with the mortgage process make it…

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When it comes to mortgage financing the harder way is usually the way that will make your loan work.

When it comes to mortgage financing the harder way is usually the way that will make your loan work

By Scott Sheldon / October 24, 2021

We are still in an environment that requires us to get support ability to repay. The harder approach, generally, is the approach that’s going to make the most sense between taking you from where you’re going and helping you accomplish your goal. If a new accomplisher goal of refinancing a house, or buying a new…

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How to get a mortgage if you've been furloughed to do to COVID_19

Going backwards trying to save for a home?

By Scott Sheldon / March 23, 2017

  Do you need help saving to buy a house? What you think you need and what you actually need may not be the same. Here is what you should know when saving for a home. In order to purchase a home, you need at least 3.5% for a down payment. Another option is Down…

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