The Mortgage Files

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

can you buy a house with less than 600 credit score?

Can you buy a house with a less than 600 credit score?

By Scott Sheldon / October 1, 2023

For families were looking to buy a home one of the biggest setbacks people have been their credit score. The better the credit score the more likelihood you can get a loan. Everyone knows this, however, if your credit score needs a little bit of love, believe it or not there’s a mortgage loan programs…

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Mortgage loan programs for unconventional scenarios

Mortgage loan programs for unconventional scenarios

By Scott Sheldon / September 10, 2023

If you’re trying to get a home loan to purchase a home, but you’re self-employed, and have some unique sources of income, or don’t show income on tax returns. there are still programs out there.  The following are some examples of non-traditional options that might help you as it relates to successfully getting a mortgage…

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hy to plan for the long term when buying a home

Why to plan for the long term when buying a home

By Scott Sheldon / September 3, 2023

Getting your piece of the American dream, buying a home, it’s one of the pivotal moments in life. It can for many families be bedrock by which future happy family memories are made… Real estate is a buy and hold game and interest rates should have no bearing on your long-term financial plans for owning…

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5 reasons you're not ready to buy a home

Here’s how your homebuying options change when interest rates fall

By Scott Sheldon / August 27, 2023

You and your family are thinking about buying a home, but the prospect of a 6.5-7.0% mortgage doesn’t sound all that appealing right? Do you want interest rates to come down so you can have a more affordable mortgage? This makes sense, but it’s a deeper problem and here are some things you should be…

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Why you shouldn't be solely focused on credit when it comes to getting a mortgage

Why your credit score is not the only thing that matters when it comes to getting a mortgage loan

By Scott Sheldon / July 2, 2023

If you’re thinking about doing any kind of a mortgage loan to purchase or refinance a home, and your credit needs some work, that might be a sign to pull back, and it also might not. Here are some things to consider that go in correlation with getting a mortgage beyond your credit score. Let’s…

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Here’s how to buy a house even if you think your income may not qualify

Here’s how to buy a house even if you think your income may not qualify

By Scott Sheldon / June 18, 2023

If you’re looking to get prequalified to buy a home, one of the main elements, a lender will use to determine your ability to afford that home is your income. Your gross monthly income from your W-2 wages or your net income from your tax returns is what the lender will use as a basis…

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Here is a smart mortgage strategy for buying a home in 2023

Here is a smart mortgage strategy for buying a home in 2023

By Scott Sheldon / June 11, 2023

If you’ve been on the fence about buying a home and you’re thinking about potentially getting prequalified. Here are some things you should give some consideration to… You might be telling yourself “I don’t want to buy a home right now because interest rates are kind of high.”  The question becomes in relation to what?…

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What the bank or credit union may not be telling about their juicy mortgage offer

What the bank or credit union may not be telling about their juicy mortgage offer

By Scott Sheldon / May 14, 2023

You just went into a contract to buy a home, and now it’s time to get a mortgage loan to close escrow. If you decide to ask your local credit union or bank for mortgage info, make sure to read all the fine print. Here is some practical information to be aware of before you…

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