The Mortgage Files

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

A hopeful first-time homebuyer or couple sitting with a loan officer at a desk, looking at documents or a laptop, with a house in the background or visible on screen—professional and optimistic tone.

Can you buy a house with a 500 credit score?

By Scott Sheldon / June 10, 2025

Can You Buy a House with a 500 Credit Score? Yes—Here’s How Buying a home with a 500 credit score might seem like a long shot—but it’s not impossible. While low credit does make things more challenging, there are still viable paths to homeownership, especially through government-backed programs like FHA loans. Just know that success…

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How to qualify for mortgage with low bank statements and tax returns

How to qualify for mortgage with low bank statements and tax returns

By Scott Sheldon / July 2, 2024

Traditional lenders often require extensive documentation, such as tax returns and bank statements, to verify income. But what if your tax returns don’t reflect your actual earnings, or your bank statements don’t show enough consistent income to meet the lender’s requirements? Fortunately, there’s a solution that can help you qualify for a mortgage without the…

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