The Mortgage Files

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

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…

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…

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…

What the Federal Reserve rate increase means

By Scott Sheldon / April 24, 2022

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…

Should you refinance during rising rates?

By Scott Sheldon / March 14, 2022

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…

Should you refinance your current mortgage?

By Scott Sheldon / March 6, 2022

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…

You can now cash out refinance 100% known to value with VA financing

By Scott Sheldon / January 16, 2022

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…

What’s going to happen with interest rates in 2022

By Scott Sheldon / January 2, 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…