The Mortgage Files

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

How to avoid getting a jumbo loan due to Coronavirus

By Scott Sheldon / April 22, 2020

Securing mortgage loan financing right has become a little bit of a challenge for some families desiring to borrow money. Here are some considerations you need to be aware of if you’re looking for a jumbo mortgage during the coronavirus pandemic… If you’re looking to mortgage a house and the size of a loan that…

Buy a house now or should I wait?

By Scott Sheldon / February 26, 2020

One of the things homebuyers are always asking themselves is buying now versus waiting. Mathematically it could pencil out that buying a house down the line might make more sense, but you should pay close attention to all the financial contributors in your life so you can make the most informed decision possible… The lay…

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

By Scott Sheldon / February 19, 2020

For you to successfully purchase a home or refinance a home, you’ll want to pay attention to your overall financial picture. Each mortgage lender requires a blend of healthy credit, manageable debt, and income as a basis for support for the whole picture. The following are some of the things to consider when it comes…

Why your income is your lifeline to finance a home

By Scott Sheldon / February 6, 2020

Getting mortgage loan financing requires you have a blend of sufficient, cash ample credit and income to offset a proposed new expense. You must have the right combination of all three in order to purchase or refinance a home. What might not make sense however is the lifeline that’s going to link all the pieces…

Why your income is your lifeline to finance a home

By Scott Sheldon / January 23, 2020

Getting mortgage loan financing requires you providing a blend of good cash, ample credit, and income to offset a proposed new expense i.e. a mortgage loan. You must have the right blend of all three in order to purchase or refinance a home. What might not make sense however is the lifeline that’s going to…

Can you get a mortgage with bad credit?

By Scott Sheldon / January 9, 2020

Many mortgage companies along with the internet would have you believe getting a mortgage with bad credit cannot happen. It is true the process will be more difficult and challenging, but it is not impossible. If your desiring to refinance your property or buy a home with less than perfect credit the following information will…

6 common mortgage loan scenarios you cannot circumnavigate

By Scott Sheldon / January 2, 2020

For some people getting a mortgage can be very challenging based on their financial profile. Following are some things to consider if your financial profile need some extra work and attention These are not all, but these are just some of the scenarios that can mortgage companies often see… I don’t want to apply for…

New loan limits for 2020 makes getting a mortgage easier

By Scott Sheldon / December 1, 2019

The Federal Housing Finance Agency which oversees loans bought by Fannie Mae and Freddie Mac announced to change to the conforming loan limit last week. Here’s what the change means for you… Every year the Federal Housing Finance Agency releases its loan limits for the next year. Over the last 4 years, the agency has…