The Mortgage Files

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

bank statement program for getting a mortgage

How much does it cost to refinance your mortgage?

By sonomacountym / November 14, 2017

If you’re trying to refinance your mortgage you should know what the costs are really are going to be and how they play into the mathematical equation of the total picture. Here’s what you need to know when it comes to refinancing your house and paying fees… When you refinance your house your closing costs…

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15% down to buy a rental

Why this factor will not matter when refinancing

By Scott Sheldon / June 6, 2017

If it has been a few years since you took out a mortgage loan, be prepared for questions, and to thoroughly document everything. A critical characteristic of good character is payment history. Payment history is  indicator of good financial merit, however it does not hold any weight in the larger financial picture.  You must have…

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why you cannot opt out of title insurance

Why you cannot opt out of title insurance when getting a mortgage

By Scott Sheldon / April 21, 2017

If you are like most consumers, you want to have a clear understanding of the fees associated with a mortgage. The closing process, lender fees, title fees, etc. This is so you know exactly how all the numbers add up. Here is something you need to know regarding getting title insurance when purchasing or refinancing…

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Which option makes the most sense for cash out refinancing?

Which option makes the most sense for cash out refinancing?

By Scott Sheldon / November 25, 2016

If you have the need to borrow money, but you don’t want to tap your assets cash out refinancing your home could be a good move. Here’s what to consider when determining what option for cash out refinance your home makes the most financial sense… Generally, when expense such as needing a new roof, or…

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Should you really buy that home?

By Scott Sheldon / October 12, 2016

Buying a home is no easy feat. There’s a lot of paperwork and you need to be on top of your to secure the big ticket purchase. How do determine if you should pull the trigger or wait… Banks will let you take on a mortgage payment at no bigger than 45% of your monthly…

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why your mortgage goals why not happen

Getting a mortgage is still not an easy process

By Scott Sheldon / August 25, 2016

Well it might appear as though getting a mortgage is easier than it was a few years ago, the process is still dicey.  It is no secret in the industry the majority of loans do not close on time. Here’s what you need to know if you’re going to be getting a mortgage in the…

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santa rosa mortgage refinance first and second loan

Refinancing: 4 Practical Money Saving Ways To Combine A First & Second Mortgage

By Scott Sheldon / December 22, 2015

Do you want to combine your first and second mortgage into one? Here’s 4 smart some money savings tips to be aware of when you submit a loan application. When you apply to refinance your home with the intent of financing more money beyond the balance of your first mortgage, your total loan amount could…

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Scott Sheldon's The Mortgage FIles Blog

Mortgage Loan Fees You Need To Know

By Scott Sheldon / March 22, 2015

Let’s cut to the chase obtaining a mortgage to buy a home or refinance one you already own is not cheap. There’s no two ways about it. Encumbering property is going to cost some bucks. Knowing the fees lenders charge including both upfront and later on in the transaction can help ensure you’re getting a…

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