The Mortgage Files

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

What happens with real estate prices when interest rates ultimately fall?

What happens with real estate prices when interest rates ultimately fall?

By Scott Sheldon / November 19, 2023

It’s no surprise that interest rates drive the housing market. If more people can buy a home, more demand is created and more demand drives housing prices up, which subsequently results in gaining home equity. Following are the dynamics that transpire in the market when interest rates come down… Homeowners stand to gain more equity…

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Should you buy a more expensive home?

Should you buy a more expensive home?

By Scott Sheldon / November 12, 2023

For families looking to purchase a home, a mortgage payment, and price of the home can go hand-in-hand decision making. If you find a house that could be a good fit for you and your family, but it seems a bit out of reach. Here are some things you might want to take some consideration…

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How your financial experience might hinder your ability to get a mortgage loa

How your financial experience might hinder your ability to get a mortgage loan

By Scott Sheldon / October 23, 2023

Getting a loan to buy a home is a maze of questions, examinations, along with an array of emotions. Here are some things to consider that might hinder your ability to get a mortgage loan… You have a strong financial situation. Let’s say you’ve got strong income and or revenue within your business, excellent credit, cash…

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are usda loans worth the hype

Are USDA loans worth the hype?

By Scott Sheldon / September 24, 2023

The US Department of Agriculture guarantees loans for certain families in certain geographic locations. These loans can be potentially an affordable loan program to help a family who doesn’t have a down payment buy a home in an area considered to be less industrialized a.k.a. agricultural. If you’re looking to get a USDA loan, here…

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What is a non-qualified mortgage and why do these loan types cost more?mortgage

What is a non-qualified mortgage and why do these loan types cost more?

By Scott Sheldon / July 23, 2023

If you’re thinking about purchasing or refinancing a home, you may have heard the term qualified mortgage. A qualified mortgage is a term coined by the CFPB that represents a full documentation loan with a debt-to-income ratio of 43%. Generally, most loans fit this category even though they sometimes allow debt to income ratio as…

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Should you buy a house or wait for the market to improve?

5 signs you should wait to buy a house

By Scott Sheldon / June 25, 2023

If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…

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How your interest free consumer debt may be keeping you from buying a home

How your interest free consumer debt may be keeping you from buying a home

By Scott Sheldon / April 14, 2023

If you’re thinking about purchasing a home and you’re carrying any consumer debt, such as installment loans, personal loans, or even low-rate credit cards. These things could adversely affect your ability to purchase a home. If you carry any of these obligations and you are desiring to buy a home the following information is for…

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How earning more income affects your ability to buy a home.

How earning more income affects your ability to buy a home

By Scott Sheldon / April 3, 2023

If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…

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