The Mortgage Files

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

When are housing prices going to return to normal?

When are housing prices going to return to normal?

By Scott Sheldon / June 29, 2022

For those that have been sitting on the sidelines, watching what’s happening in the market. Are you thinking to yourself “gosh I should have bought a house last year or a few years ago!” Remember, hindsight is 20-20 and you can’t regress you can only go forward. So, when are housing prices going to return…

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how filing your tax returns might hurt your mortgage chances

how filing your tax returns might hurt your mortgage chances

By Scott Sheldon / June 26, 2022

If you’re looking to purchase or refinance a home, and you have not filed your 2021 tax return yet. And this goes for any year, here’s what you need to know as it relates to showing income.   Let’s say you’re self-employed or you’re a W2 employee and you have additional income sources. Such as…

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how a recession could impact your home buying

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…

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How buying a condo may carry the same mortgage payment as a single family home

Buying a piece of land and put a home on it

By Scott Sheldon / February 20, 2022

People are always trying to find additional ways to reduce their costs when buying a home. Maybe that means buying a lower price point or changing to a condominium instead of a single-family house. Another segment of the market in most people’s home search journey considers the possibility of buying a piece of land and…

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How to use seller carry financing to purchase a house with less cash down

The only 5 guaranteed ways to boost borrowing power

By Scott Sheldon / March 8, 2018

Interest rates are on the rise and the cost of funds is now hovering just below 5% on the average 30-year fixed-rate mortgage. Following are tried and true techniques you can use to improve your mortgage borrowing power. Paying off debt This one is huge. Minimum payments on car loans, student loans, credit cards and…

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