The Mortgage Files

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

Should you buy a home in cash or finance it?

Looking to buy a house the summer? You’ll need a down payment

By Scott Sheldon / July 3, 2021

As interest rates still remain low many people who have been on the sidelines about buying a house are now coming out of the woodwork. Maybe they’re buying a first home or a move-up home but there is strong demand for housing across the nation in every city and the county throughout the United States.…

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How buy a home with 0 down payment

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…

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income tax returns mortgage 2021

How to get a mortgage without tax returns for 2021

By Scott Sheldon / April 14, 2021

It goes without saying getting mortgage loan financing could be a little bit of an arduous process for some folks particularly those who have challenges showing income are in the self-employed category. The stated income loans and the loans that were created for self-employed borrowers unfortunately are very far and few these days and in…

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how to buy a home

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…

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Keys in Palm of Homebuyer's Hand

The 3 most common mortgage loan types

By Scott Sheldon / November 25, 2020

Picking the right mortgage loan type for your family is a big financial decision. Here are some things to consider about the three most popular types of mortgages and what the pros and cons and differences are between all three… Most mortgages today are for 30 year fixed rates. There are other terms available such…

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Should you refinance with today's historically low rates?

Should you refinance with today’s historically low rates?

By Scott Sheldon / August 21, 2020

Many experts will tell you shouldn’t refinance unless you’re saving 1% lower in rate. With today’s interest rates being on average below 3%  here’s how you should determine whether refinancing for you and your family makes sense or not… Stop paying attention to all of the internet articles and all the so-called financial experts out…

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Why interest rates probably will not go down any lower

Why interest rates will probably not get any lower

By Scott Sheldon / June 11, 2020

Interest rates are a big driver of the mortgage market. People purchasing houses and refinancing houses are taking advantage of today’s historically low rates. Here are some fundamentals you should be aware of when it comes to interest rates and what the market may or may not do going forward… First things first what drives…

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number 1 mistake when getting a mortgage

The #1 mistake consumers make when getting a mortgage…

By Scott Sheldon / February 5, 2019

To apply for a mortgage, get approved and close escrow you must have some sense of urgency. Whether you are buying a home or refinancing a home, your mortgage application needs to get moved up the priority scale in your life. If you don’t have that sense of urgency you may leave money on the…

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