The Mortgage Files

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

Should you buy a house or keep saving? The answer might surprise you

By Scott Sheldon / June 21, 2021

In order to buy a house successfully unless you’re a military veteran using VA financing you absolutely need a down payment. Down payment assistance programs, no money down programs that do exist is challenging to qualify for, let alone getting into contract.  Here is what to know… That being said you need at least $20k…

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…

Should you buy an existing home or build a new one?

By Scott Sheldon / April 28, 2021

In this environment, it’s no easy feat to get your foot in the door with real estate. You really have to avenues buy a house already in existence or build a new one. Here’s the skinny on both… Building a home  Building a house is not for the faint of heart.  It requires a considerable…

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…

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…

How do you know when you are buying too much house

By Scott Sheldon / March 31, 2021

One of the strongest builders of wealth in America real state. People can buy a house and literally turned their lives around for the better and over the course of time become extremely wealthy as a result of owning real estate. If you’re going to go broke after you make your mortgage payment each month…

Here’s what you need to understand about today’s mortgage rate environment

By Scott Sheldon / March 19, 2021

Interest rates are presently unstable. As a result of this instability brought on by some of the global and national events, we are in a very unique situation where rates literally from one day to another multiple times per day. The market for hunting for terms and price above all else was in 2020.  Here’s…

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…