The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Why these 2 factors drive housing prices above all else
People are astonished at how housing prices are so strong right now. These 2 Housing factors are playing a very important role in the housing market. More importantly in one’s ability to decide to purchase a home Your income people. Do not buy houses unless they’re feeling good about their income. More specifically, their job…
Read MoreTax return losses may hurt your mortgage chances
Qualifying for a mortgage involves: an acceptable credit score, sufficient assets and stable income. These are to show you can support a mortgage payment, plus other liabilities. You must have a balance of all three to successfully qualify for financing. The following is what you must know when trying to qualify with “paper losses” on…
Read MoreGoing 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 MoreIs down payment assistance worth it to a buy a home?
If you’re looking to buy a house with little or no cash your options may be limited. Here is what you need to know to get your foot in the door, successfully… Down payment assistance programs Down payment assistance can be sponsored by a local state or government entity or entity grant. Essentially, down payment…
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