The Mortgage Files

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

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…

3 elements you must have in your financial life to buy a home

By Scott Sheldon / January 27, 2021

2021 might be the year to purchase a home. With the combination of ultra-low interest rates buying a home could absolutely be something within your reach. Timing the market not a good idea, buying a home when your finances and cash and credit and income support generally makes sense if you have a buy and…

Why your side business makes getting a mortgage tougher

By Scott Sheldon / January 6, 2021

The reality of today’s mortgage market may come in the form of tough love. For many families purchasing or refinancing a home can make a huge financial impact on their life. Applying for and successfully get a home loan can be a bit tricky depending on your financial situation. Here are some things to just…

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…

The number one reason why you shouldn’t buy a home

By Scott Sheldon / November 19, 2020

Buying a home is a balancing act between a mortgage payment in relation to present and future expenses. One of the biggest challenges people have when buying a house is being able to plan a family budget around a mortgage payment. Real estate is not black and white, it is not linear sometimes it’s a…

How to decide the right time to buy a home

By Scott Sheldon / October 22, 2020

One of the challenges people have when deciding to purchase a house is trying to pinpoint the right time to make the move. Everyone is in a different stage of life and pinpointing the optimal time can be a little bit tricky depending on one’s personal finances. Here are some things to consider when deciding…

Common reasons buyers give to not buy a home

By Scott Sheldon / October 8, 2020

How can you determine what is the right house, the right area the right location, and the right house for you and your family? Here are tips to consider as you’re out there in the marketplace looking at houses with your real estate agent… What type of house are you looking for? Are you looking…

The catch with today’s low-interest-rate environment

By Scott Sheldon / October 2, 2020

If you’re getting a mortgage or thinking about getting any type of mortgage loan financing and you’re looking at interest rates for 30-year mortgages in the mid to s for example here’s what you need to know… Most mortgage offerings in the marketplace today at or sub 3% come with varying rates fees and in…