The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Why Buying a Home Without Your Significant Other Might Hurt More Than It Helps
If you’re a homebuyer—or a first-time homebuyer—making strong income and thinking about purchasing a home on your own without your significant other on the loan, I want to offer some perspective before you pull the trigger. It’s a common thought process:“I’ll buy the home in just my name, and that way my partner can still…
Read MoreShould I Switch from FHA to Conventional? What You Need to Know
’ve done everything right. You sent your documents to the lender, got preapproved, and now you’re actively house hunting. Maybe it’s been a few weeks since you got your initial FHA preapproval. You’ve seen some homes, made a few offers, but nothing has gone into contract yet. Then, you hear the question: Should I switch…
Read MoreShould You Buy a Home with a 401(k) Loan or Down Payment Assistance?
Buying a home is a significant financial decision that requires careful planning and consideration of various financing options. Two common methods prospective homeowners might consider are borrowing from a 401(k) and utilizing down payment assistance programs. Each approach has its benefits and drawbacks, and understanding these can help you make an informed decision tailored to…
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