The Mortgage Files

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

5 practical ways to improve purchasing power when buying a home

Ways to handle a mortgage payment when buying a home

By sonomacountym / September 11, 2022

Consumers who are preapproved and looking to buy a home are sometimes getting shell shock as relates to the mortgage payment. The rate, the purchase price, and the cash-to-close may change the cost to buy a home. Here are things you might want to do if you are buying a house… We are presently in…

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What are the financial risks in buying a home today?

What are the risks of buying a home?

By Scott Sheldon / August 24, 2022

When you’re buying a home, you should be thinking about not just the purchase price of the house, but you should be really thinking about your household budget. Saving money and being able to have a life without letting debt get the better of you should be a goal as it relates to deciding whether…

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How to determine which mortgage loan program is best based on your credit score

Why do mortgage companies have to pull a credit report?

By Scott Sheldon / August 21, 2022

When you apply to purchase or refinance a home the mortgage company is required to pull a copy of your credit report in order to issue a credit decision. Here are things you need to be aware of as it relates to your credit report and credit score from a financial services provider…   The…

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Why mortgage rates will not hit 7%.

Why mortgage rates will not hit 7%

By Scott Sheldon / August 7, 2022

For those consumers out there, who have been on the fence about refinancing their mortgage or buying a home because of concern about interest rates, pay close attention to the facts. The economic drivers of rates are a tall tale sign of the future of mortgage rates… Inflation has driven mortgage rates up in the…

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How to decide when is the right time to buy a house

When is the right time to buy a house

By Scott Sheldon / July 17, 2022

You want to buy a house but you’re not sure if now is the right time with all the variables up in the air. It’s a big decision and one that should not be taken lightly. If you’re thinking about purchasing a home in the next few years, here are some things you should give…

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Don't be the "I don't wanna waste your time" consumer

Don’t be the “I don’t want to waste your time” consumer

By Scott Sheldon / July 10, 2022

People looking to buy or refinance a home may have been turned down by another mortgage company based on their financial situation. If you’ve been turned down before and you think all odds are against you don’t give up. The first step to failure is not to try. Simply put don’t be that customer that…

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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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Federal reserve's change to policy

Federal reserve’s change to policy

By Scott Sheldon / June 19, 2022

Here is what the federal reserve’s change to monetary policy on June 15th, 2022, means for mortgage rates. If you’re buying or refinancing a home the information in this article is for you. The Federal Reserve increased interest rates on June 15th by 75 basis points. This is to curb surging inflation and tame what…

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