The Mortgage Files

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

how save money without refinancing

Here is an easy way to save thousands in mortgage interest expense without refinancing

By Scott Sheldon / January 21, 2018

If you hate your mortgage as much as everyone else does, this article is for you. One of the things people hate about home mortgages is the amount of interest they pay over the total term of the loan. Following is a strategy to help you pay off your house faster without breaking your pocket…

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which loan program for you

How to pick the right mortgage loan program for your situation

By Scott Sheldon / August 17, 2017

With the proliferation of new home buying programs being introduced into the market consumers today have more choices for securing financing than ever before. Here is how to pick what mortgage loan program for your unique financial profile… Know this-take peoples thoughts and opinions with a grain of salt. Before you start looking at loan…

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when is the right time to buy a home

When is the right time to buy a home?

By Scott Sheldon / July 8, 2017

The right time to purchase a home is different for every consumer. Following are some reason why you may want to pull the trigger sooner rather than later. In most areas throughout the country over the last 30 years anyone who has bought a home and held it for a 10 year cycle has done financially…

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what to know about a mortgage 4506t

How to evaluate buying a rental property

By Scott Sheldon / September 6, 2016

Buying a rental property can be very lucrative and sound financial vestment. Here’s how to determine whether not buying a rental property with financing makes sense. Location, location, location Location for the property is critical. It is often thought a rental property is more dollars and cents transaction with less focus on location. While this…

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fannie made change to home appraisal covid_19

Why harp refinances are dwindling

By Scott Sheldon / August 18, 2016

One of the financial programs aimed at homeowners wishing to refinance in the economic downturn was Making Homes Affordable Harp 2. The program to this day allows people to refinance even if they are underwater. Here’s what you should know about this program… How the program works If you took out your loan May 31,…

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today's mortgage loan process

3 things you will not like about today’s mortgage process

By Scott Sheldon / July 19, 2016

These things about today’s mortgage loan process will drive you crazy. Know what lenders will want…. Patriot Act This says lenders do not make loans to drug dealers, money launderers or terrorists.  Obviously, 99.9% of today’s mortgage loan borrowers are completely on the up and up. However, this does not change the fact mortgage lenders…

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THE REALITY OF DOWN PAYMENT ASSISTANCE

Is down payment assistance worth it to a buy a home?

By Scott Sheldon / June 6, 2016

If you’re looking to buy a house with little or no cash your options may be limited. Here is what you need to know to get your foot in the door, successfully… Down payment assistance programs Down payment assistance can be sponsored by a local state or government entity or entity grant. Essentially, down payment…

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how to get an fha mortgage on condo

Buy a condo or a single family home?

By Scott Sheldon / April 8, 2016

When the time homes to buy your first home, you will have options galore. Here’s how to decide if you should purchase a single-family home or a more affordable condominium unit. Undoubtedly, buying a home is without doubt the largest financial decision you’ll probably make in your lifetime. It is critical to make sure the…

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