The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Federal reserve’s change to policy
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…
Read More about Federal reserve’s change to policyWhat the Federal Reserve rate increase means
The Federal Reserve increased the Fed funds rate by 25 points to slow down the highest inflation seen in 30 years. As a result, here’s what this means for interest rates, credit cards, and home equity lines of credit. In short, everything is going up. Mortgage rates are also higher but not because of…
Read More about What the Federal Reserve rate increase meansShould you refinance during rising rates?
If you’re thinking about refinancing your house and you’ve been on the fence; now would be a good time to start that application. Interest rates are all relative so it’s important to understand the total picture when deciding whether you should refinance your property. It’s no surprise that the federal reserve more than likely…
Read More about Should you refinance during rising rates?Should you refinance your current mortgage?
People looking to refinance their homes are always looking for a good deal. It goes without saying you’ll want to do the best you can for yourself financially. Get the best combination of rate, price, and customer service. Here are some things that you should give some consideration to when choosing who to work with…
Read More about Should you refinance your current mortgage?You can now cash out refinance 100% known to value with VA financing
For borrowers who are military veterans, the change to VA loans that recently have taken place can be immensely beneficial. If you have a VA mortgage on your house, and if you’re interested in using VA financing to accomplish your goals as it pertains to refinancing. Please read on… The Department of veteran affairs recently…
Read More about You can now cash out refinance 100% known to value with VA financingWhat’s going to happen with interest rates in 2022
One of the big questions on the minds of consumers looking to purchase or refinance a home is what’s going to happen with interest rates in 2022. Interest rates, while they remain at historical lows, may experience some movement in 2022. Here’s what you should come to expect if you’re going to be buying a…
Read More about What’s going to happen with interest rates in 2022How changing your preapproved amount may affect your home buying chances
So, you’re looking to purchase a house, you’re preapproved, and you’re on the home search. You and your realtor are going out on nights and weekends looking at homes and deciding if the house is the right fit for you and your family. Here’s some following information you should be aware of as it relates…
Read More about How changing your preapproved amount may affect your home buying chancesHow to purchase a house with a partial down payment
How do you buy a house with not quite enough money? Contrary to popular belief you can buy a house even if you don’t have enough money to do it. It’s a little technical but it’s going to require you, your realtor, and your lender to put your heads together. Here’s how it can be…
Read More about How to purchase a house with a partial down payment