The Mortgage Files

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

how the ppp loan may hurt your mortgage

How 1031 tax-deferred exchanges work

By Scott Sheldon / August 14, 2018

A 1031 tax-deferred exchange is a deferred exchange in the gain of an investment property used to acquire another investment property. Make no mistake this is a deferment where you’re kicking the can of the paying the property taxes obligation to some point in the future when you sell the property. Here is an example…

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how to transfer property under prop 13

How to transfer property to family and still be protected under Prop 13

By Scott Sheldon / August 7, 2018

Proposition 13 was enacted in 1978 by voters to limit the amount of property-taxes the homeowner pays. Prop 13 protect your property taxes from increasing by more than 2% per year. It protects properties that rise in value. Following are the biggest concerns mortgage borrowers have when it comes time to keeping property taxes low……

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Why you shouldn't be solely focused on credit when it comes to getting a mortgage

5 credit mistakes to avoid when getting a mortgage

By Scott Sheldon / July 10, 2018

You need to be on top of your game when getting a home loan. Your credit score is an integral part of being able to purchase a house or refinance a house. Here are some things to know when it comes to credit… The free credit score you get from Credit Karma or your bank…

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Little lending nuances to get a mortgage

These little lending nuances may help you land a mortgage

By Scott Sheldon / June 26, 2018

Getting a mortgage in 2018 there is a bureaucratic and compliant process with a significant amount of paperwork involved. Following is some tips on various loan programs available in the marketplace you may not know… Conventional mortgages they will go up to a debt to income ratio of 50%. Here is the kicker if your…

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sonoma county housing and rates

The new Sonoma County housing and mortgage rate market

By Scott Sheldon / February 22, 2018

The Sonoma County real estate market has changed considerably in the last few years. If you’re going to be purchasing or refinancing a house here is what you need to know… The median house price in Sonoma County is $670,000 brought on by a few factors. Primarily, the Sonoma County housing market over the course…

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mortgage scenarios discount points

These mortgage scenarios will almost always mean paying discount points

By Scott Sheldon / December 19, 2017

Discount point are nothing more than upfront head you pay to purchase a lower interest rate and subsequently a lower monthly payment. In some case the you may not have a choice to pay discount points. Following are those ways… It is reasonable to assume when refinancing with a lower than 660 credit score on…

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why you cannot opt out of title insurance

Why you cannot opt out of title insurance when getting a mortgage

By Scott Sheldon / April 21, 2017

If you are like most consumers, you want to have a clear understanding of the fees associated with a mortgage. The closing process, lender fees, title fees, etc. This is so you know exactly how all the numbers add up. Here is something you need to know regarding getting title insurance when purchasing or refinancing…

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Which option makes the most sense for cash out refinancing?

Which option makes the most sense for cash out refinancing?

By Scott Sheldon / November 25, 2016

If you have the need to borrow money, but you don’t want to tap your assets cash out refinancing your home could be a good move. Here’s what to consider when determining what option for cash out refinance your home makes the most financial sense… Generally, when expense such as needing a new roof, or…

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