The Mortgage Files

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

Calculator and mortgage loan documents showing monthly savings on a refinance

When to Refinance Your Mortgage: Key Factors for Lowering Costs

By Scott Sheldon / November 6, 2024

When to Refinance Your Mortgage: Key Factors for Lowering Costs If you’ve bought a home recently or are considering lowering your mortgage rate, knowing when to refinance can make a significant financial difference. Many homeowners are looking for opportunities to reduce monthly payments or eliminate private mortgage insurance (PMI). Here are essential guidelines to help…

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Should You Buy a Home with a 401(k) Loan or Down Payment Assistance?

Should You Buy a Home with a 401(k) Loan or Down Payment Assistance?

By Scott Sheldon / June 26, 2024

Buying a home is a significant financial decision that requires careful planning and consideration of various financing options. Two common methods prospective homeowners might consider are borrowing from a 401(k) and utilizing down payment assistance programs. Each approach has its benefits and drawbacks, and understanding these can help you make an informed decision tailored to…

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are usda loans worth the hype

Should you really worry about PMI when buying or refinancing a house?

By Scott Sheldon / October 3, 2021

One of the dreaded things of the housing and mortgage industry is an additional expense called private mortgage insurance that’s added to your monthly mortgage payment. PMI should be avoided by whatever means necessary. However, perception is everything so let’s talk about and break down what PMI is and whether is it as bad as…

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what you need to know about private mortgage insurane

What you need to know about private mortgage insurance

By Scott Sheldon / June 5, 2018

If you’re purchasing or refinancing a house with less than 20% Equity. You’re going to be subject to having PMI. Here’s what you need to know regarding private mortgage insurance with regards to financing your house… When you have less than 20% equity on your house the mortgage company is going to require you to…

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