The Mortgage Files

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

Buying a home can be a puzzling process

Why Renting May Delay Your Home Buying Efforts

By Scott Sheldon / October 22, 2015

Renters everywhere are feeling the constraints of rising rents. Rising rents erodes your ability to save for the cash needed to buy a home. It becomes a catch 22 because the longer you rent the more you need to save in order to offset rent increases while maintaining the rate at which you are saving.…

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What are the initials steps I should take when deciding to get pre-approved to buy a home?

By Scott Sheldon / July 25, 2015

Great question and one that should be handled with the utmost care and integrity. First you need to get prequalified. You need to have a conversation with a mortgage professional about your credit, debt, income and assets. After determining you qualify to purchase a home, the lender would ask you to submit a loan application…

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Scott Sheldon's The Mortgage FIles Blog

What? Another pre-approval?

By Scott Sheldon / October 31, 2010

If you are thinking about purchasing a home in Sonoma County be prepared to play the game for another pre-approval. The Sonoma County real estate market is dominated by REO otherwise commonly referred to as bank owned property. These unsold homes sitting on the market are oftentimes controlled by the big banks like Chase, Bofa…

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