The Mortgage Files

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

how a recession could impact your home buying

How a future recession may impact your plan to buy a home

By Scott Sheldon / November 20, 2022

If you’ve been thinking about purchasing a home and you’ve been on the fence because of economic conditions. The following information could assist you in helping to determine when and/or if you should purchase a home… The concern many home buyers have right now is “I want to wait and see”.  Purchasing a home in…

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

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

By Scott Sheldon / July 31, 2022

One of the biggest challenges is trying to pinpoint the right time to buy a home. Interest rates are in flux and housing prices are high in most markets. So, how do you decide when to pull the trigger for the big-ticket purchase? The first is to focus on the things that you can control.…

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You just got notice to vacate, should you buy a house or continue to rent?

You just got notice to vacate, should you buy a house or continue to rent?

By Scott Sheldon / July 3, 2022

If you are presently renting and you received notification that your lease is no longer going to be renewed. Do you buy a new house to live in or continue renting? Here are some things to consider as it relates to deciding what you and your family should do big picture. Buying a house might…

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Two ways to get your purchase offer accepted

Two ways to get your purchase offer accepted

By Scott Sheldon / June 5, 2022

Everyone knows buying a house right now is challenging. Across the nation is a competitive real estate market brought on by an exceptionally low supply on a national level. As a result, in most markets throughout the country, homes are going over the asking price based on other competitive offers bidding up the homes. That…

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why your mortgage application could be denied

why your mortgage application could be denied

By Scott Sheldon / May 29, 2022

Getting a mortgage is not as simple as showing your ability to pay, having good credit, and good down payment. It also must pass a test period of Fannie Mae and Fannie Mac’s automated underwriting. This is something you should be aware of as it pertains to buying or refinancing a home. If your situation…

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Why not all first time homebuyer programs are created equal

Why not all first time homebuyer programs are created equal

By Scott Sheldon / April 10, 2022

If you are just starting in life and trying to get your footprint in the real estate climate; the information in this post is for you. Everyone must start somewhere and buy that first home. That first home is always the big one it is by far the hardest and most emotional. It can also…

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Should you refinance during rising rates?

Should you refinance during rising rates?

By Scott Sheldon / March 14, 2022

If you’re thinking about refinancing your house and you’ve been on the fence; now would be a good time to start that application. Interest rates are all relative so it’s important to understand the total picture when deciding whether you should refinance your property.   It’s no surprise that the federal reserve more than likely…

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self employed mortgage challenges

Are you Self employed having a tough time getting a mortgage?

By Scott Sheldon / January 1, 2022

Are you self-employed in having a tough time getting a mortgage? Here’s what you need to know… When it comes to being self-employed one of the biggest challenges that you’re going to have as an entrepreneur is reporting income. The more income you show the more taxes you pay the less you have for savings…

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