The Mortgage Files

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

self employed mortgage challenges

Are you Self employed having a tough time getting a mortgage?

By Scott Sheldon / January 1, 2022

Are you self-employed in having a tough time getting a mortgage? Here’s what you need to know… When it comes to being self-employed one of the biggest challenges that you’re going to have as an entrepreneur is reporting income. The more income you show the more taxes you pay the less you have for savings…

Read More
How changing your preapproved amount may affect your home buying chances

How changing your preapproved amount may affect your home buying chances

By Scott Sheldon / December 26, 2021

So, you’re looking to purchase a house, you’re preapproved, and you’re on the home search. You and your realtor are going out on nights and weekends looking at homes and deciding if the house is the right fit for you and your family. Here’s some following information you should be aware of as it relates…

Read More
mortgage income covid 19 202

How to get a mortgage if your income was affected by Covid_19 in 2020

By Scott Sheldon / May 25, 2021

If you experienced any financial difficulty in 2020 and are now back on your feet and looking to purchase or refinance a home this information is for you… Every mortgage company is going to review your situation a little bit differently unfortunately, it’s not one size fits all as a result some lenders have an…

Read More
How to handle this mortgage rate environment

How to handle this mortgage rate environment

By Scott Sheldon / April 7, 2021

With the new administration we have, the extra stimulus the federal government is working its way through the markets, inflation, or fears of inflation is definitely upon us and as result, an unstable mortgage rate environment is upon us… The reality of it is no mortgage loan officer no matter how good they are has…

Read More
what to know before you consider doing a forbearance

Be careful going into forbearance

By Scott Sheldon / March 25, 2021

Well, times are definitely changing and one of the biggest challenges to buying a new home or refinancing a mortgage is forbearance. The federal government has allowed borrowers to do mortgage payment deferrals, but that comes at a cost. If you have forbearance on your mortgage right now or if you’re thinking about going into…

Read More
mortgage for manufactured home

Can you get a mortgage for a manufactured home?

By Scott Sheldon / March 4, 2021

One of the types of homes people tend to look at in a high-cost market is manufactured homes. If you’re in the market for buying a house or even refinancing a house that you already home here are all you need to know about manufactured homes… Manufactured homes are built in a factory and shipped…

Read More
Mortgage charts being worked on

How to time the market to buy a home

By Scott Sheldon / January 20, 2021

Purchasing a home is one of the biggest staples of wealth for most families in America. It’s the largest thing in their life that can create big wealth creation. Here are some things to be aware of if you’ve been on the sidelines and you’re trying to figure out when is really the best time…

Read More
Home with Calculator

Why your granny unit might ding your mortgage application

By Scott Sheldon / December 17, 2020

People trying to refinance their mortgages to take advantage of favorable current market conditions might come to realize they have a problem with their house. A granny unit can be a wonderful opportunity to maintain a mortgage, drive affordability as part of the broader budget, however, if it’s not done in the right way, it…

Read More