The Mortgage Files

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

5 practical ways to increase your purchasing power when buying a home

5 practical ways to increase purchasing power when buying a home

By Scott Sheldon / March 27, 2024

Buying a house today can be an arduous task, especially when you consider the many challenges that families face. One of the most significant challenges is qualifying for a price that is affordable for the family. Heightened interest rates and high housing prices only add to the difficulty. However, there are a few factors that…

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Unlocking Dreams: A Festive Dip in Interest Rates

Unlocking Dreams: A Festive Dip in Interest Rates

By Scott Sheldon / December 21, 2023

As we step into a new season, the mortgage landscape is adorned with a delightful surprise—interest rates taking a graceful descent. In Sonoma County, California, this financial waltz is not just a trend; it’s a game-changer that’s about to redefine the home-buying experience…   From the High Sevens to the Mid-Sixes **The Tale of Interest…

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2024 Conforming & FHA Loan Limits increased!

2024 Conforming & FHA Loan Limits increased!

By Scott Sheldon / December 10, 2023

Are you considering buying or refinancing a home shortly? If so, you might be interested to know that the Federal Housing Finance Agency (FHFA) and the Federal Housing Administration have recently announced the new loan limits for 2024. The loan limit represents the maximum residential mortgage loan amount the government will allow in a certain…

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Here's a strategy to buy a home and set up a future refinance

Here’s a strategy to buy a home and set up a future refinance

By Scott Sheldon / December 3, 2023

For families looking to purchase a home, good news has arrived interest rates are slowly starting to descend. As time goes on purchasing power for family’s home searching will rise. So, the benefit of this is a lower monthly payment, potentially qualifying for a larger priced home by market forces. Here are some things to…

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Why a 6 Month job gap on your FHA Mortgage could be an issue

Why a 6 Month job gap on your FHA Mortgage could be an issue

By Scott Sheldon / November 26, 2023

If you are buying or refinancing a home and you’re getting an FHA Mortgage and you’ve had a job in the last six months, this information is going to be particularly important as relates to getting a home loan.  The following is what you need to know… If you are getting an FHA mortgage loan…

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how to time when to buy a home

How time to the market to buy a home

By Scott Sheldon / November 5, 2023

Everyone looking to buy a house is looking to get a “deal” to some degree. The home has to fit within the monthly budget in support of a sound financial decision. Part of this process is identifying marketing time so you can buy a home successfully… The great investor warren, Buffett has been quoted of…

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are usda loans worth the hype

Are USDA loans worth the hype?

By Scott Sheldon / September 24, 2023

The US Department of Agriculture guarantees loans for certain families in certain geographic locations. These loans can be potentially an affordable loan program to help a family who doesn’t have a down payment buy a home in an area considered to be less industrialized a.k.a. agricultural. If you’re looking to get a USDA loan, here…

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What’s the lowest credit score to get a home loan?

What’s the lowest credit score to get a home loan?

By Scott Sheldon / February 23, 2023

There is a significant amount of inaccurate information online and in the real estate community about the credit score needed to get a home loan to purchase or refinance a home. Talk to one company they’ll tell you XYZ, talk to another company they’ll tell you something else entirely, talk to another company, and you…

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