The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Here is a smart mortgage strategy for buying a home in 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?…
Read More about Here is a smart mortgage strategy for buying a home in 2023Is a down payment assistance loan to buy a home a good idea?
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…
Read More about Is a down payment assistance loan to buy a home a good idea?What’s the minimum down payment to buy a home?
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…
Read More about What’s the minimum down payment to buy a home?3 things to know that make your mortgage difficult
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…
Read More about 3 things to know that make your mortgage difficultWhen it comes to mortgage financing the harder way is usually the way that will make your loan work
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…
Read More about When it comes to mortgage financing the harder way is usually the way that will make your loan workGoing backwards trying to save for a home?
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…
Read More about Going backwards trying to save for a home?This common mistake will kill your mortgage
Are you buying a home? This common mortgage mistake can end up creating more unnecessary challenges for you during the underwriting process. Here are the things you should look out for… When you are buying a home, you need to show your lender that you have a down payment and access to funds to close.…
Read More about This common mistake will kill your mortgageThe equity percentage you need for a big mortgage is less than you think
Most people will tell you that you must have excellent credit and a big down payment to secure a larger mortgage. The reality is that while having a big chunk of cash to put down on a house is nice to have, it is not always an absolute requirement. Here is the information you should…
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