The Mortgage Files

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

How to align expectations with market conditions to buy a home

How to align expectations with market conditions to buy a home

By Scott Sheldon / September 17, 2023

You have decided to you want to buy a home. You supply the lender with all your paperwork, and you know you can afford a mortgage even if it’s a little outside of your payment comfort, but for whatever reason you just can’t seem to get into a contract. The stars are not aligning, which,…

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Why the current mortgage dilemma is a bigger problem than most think!

Why the current mortgage dilemma is a bigger problem than most think!

By Scott Sheldon / July 9, 2023

If you have a really low mortgage rate on your home right now, but you want to buy another home, there needs to be some sort of justification, for giving up the historic, low-interest rate to go into a higher-priced mortgage,  here are some things consumers have to weigh out as a relates to making…

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How your credit cards shape your ability to get a mortgage

How your credit cards shape your ability to get a mortgage

By Scott Sheldon / February 6, 2022

Maintaining a personal budget and having a good financial plan associated with your income is a good 1st step in preparing yourself to get mortgage loan financing. Whether you are buying a home or refinancing, consumer debts matter. It can make or break your situation. Here are some things you might want to give some…

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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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working two job just got easier for a mortgage

Working two jobs is now easier to get a mortgage

By Scott Sheldon / January 2, 2019

Fannie Mae and Freddie Mac are starting to take a more balanced approach in the way they view mortgages. The change about self-employment income not hurting your W-2 income is one such example of that. Here’s what you need to know if you have both income types are looking for a mortgage… Up until recently…

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how mortgage lender credit work

How mortgage lender credits work

By Scott Sheldon / December 26, 2018

How mortgage lender credits work with rates If you’re getting a mortgage or plan to be you might be working with a situation where a lender credit is needed. Here is what you need to know with how lender credits work with regards to interest rates and government required disclosures… When you select a mortgage…

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how to time when to buy a home

How to create wealth with your income and finances

By Scott Sheldon / November 6, 2018

For anyone who is ever thought about getting a mortgage, saving money and getting ahead financially this is for you. Following is what you should have for the most optimal financial profile… To purchase or refinance a house you need to have a blend of cash, credit and income. You would want your income to…

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how to get a mortgage with tax returns

How to get a mortgage without providing tax returns

By Scott Sheldon / September 17, 2018

If you’re looking to purchase or refinance a house providing tax returns can sometimes just be inconvenient especially if your tax returns have various extending schedules. Here’s what you need to know if you’re looking to borrow money on a mortgage without providing the laundry list of financial documentation most banks and lenders require… Not…

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