The Mortgage Files

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

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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interest rate to refinance my mortgage

What’s the magic interest rate to refinance your mortgage?

By Scott Sheldon / February 5, 2023

For consumers who purchased their homes or took out any kind of residential mortgage loan in 2022 the future prospect of refinancing can seem very attractive. Here are some things you might want to consider as to finding what mortgage rate is generally the best to justify moving forward on a refinance when rates drop……

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Why an FHA Mortgage is by far the best out of the box loan option to buy a house

Why an FHA Mortgage is by far the best out of the box loan option to buy a house

By Scott Sheldon / January 29, 2023

FHA loans which are loans ensured by the federal housing administration oftentimes have gotten a bad rap, for the costs associated with them as well as the types of properties that will be insured by the FHA. The reality of it is that the NFA chain loan is by far unequivocally the most flexible loan…

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4 proven ways real estate wealth

4 proven ways real estate will make your wealthier

By Scott Sheldon / January 8, 2023

If you’re thinking about buying a home, good, it’s a sound financial decision and it’s the bedrock by which most Americans in America have created wealth for themselves and their families. Here are the four pillars of owning real estate and how they all work in tandem with each other to make you wealthier as…

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purchase or rate to buy a home

Is the mortgage rate or the purchase price you pay for a home more important?

By Scott Sheldon / November 13, 2022

If you’ve been thinking about purchasing a home and you’ve been on the fence because you’re just not sure about the right time, the information that’s going to follow is for you… Trying to time the market to identify a moment in time to pinpoint the right time to purchase a home is an incredibly…

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