The Mortgage Files

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

Can you realistically buy a home with no money down?

By Scott Sheldon / May 5, 2021

In order to be successful in real estate, you need to take the advice of a good quality lender experienced in the local area in which looking to purchase. While it is possible to secure a no down payment program, closing on a home in this unique real estate market is another matter. Following is…

Should you buy an existing home or build a new one?

By Scott Sheldon / April 28, 2021

In this environment, it’s no easy feat to get your foot in the door with real estate. You really have to avenues buy a house already in existence or build a new one. Here’s the skinny on both… Building a home  Building a house is not for the faint of heart.  It requires a considerable…

The 3 different types of home buyers

By Scott Sheldon / March 12, 2021

In today’s market to be successful in getting mortgage financing you need to be realistic about what you can afford what you can expand and what your financial situation will support. Hear 3 different ways to look at buying a home so you can figure out where you are in the bigger picture of things…

3 elements you must have in your financial life to buy a home

By Scott Sheldon / January 27, 2021

2021 might be the year to purchase a home. With the combination of ultra-low interest rates buying a home could absolutely be something within your reach. Timing the market not a good idea, buying a home when your finances and cash and credit and income support generally makes sense if you have a buy and…

How to make sure your mortgage application makes sense

By Scott Sheldon / December 23, 2020

Consumers securing mortgage loan financing today at times might be frustrated with the amount of paperwork needed to get their mortgage application signed off.  As a result, you must meet ATR which is ability-to-repay requirements to secure mortgage financing. As a result, some people depending on how technical their file is may experience more paperwork…

Here’s 3 types of pricier mortgages

By Scott Sheldon / October 15, 2020

When you’re in the market to get new mortgage loan financing it can seem like it’s an endless navigational process to figure out what loan amount, what interest rate, what program what option is best suited to meet your needs. Here five pricier types of mortgages to be aware of… Cash-out refinances cost more because…

How to use a 401k for down payment to buy a home

By Scott Sheldon / July 24, 2020

Does it make sense to tap your 401k to purchase a home? For most families in America, one of the biggest Staples of wealth is a retirement account. Here is what you might want to keep in mind when you are deciding where to get funds to purchase a house… To successfully close on a…

Buying a house? Expect multiple offers

By Scott Sheldon / July 16, 2020

Believe it or not, the pandemic has created a unique situation where many markets are experiencing multiple-offer situations on properties for sale. If you’re going to get pre-approved or begin looking for a house here is what you might want to be aware of and what you can best do to position your chances of…