The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Are you self-employed and having a tough time getting a mortgage?
Are you self-employed and 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, and the more taxes you pay…
Read MoreWhat to do when you’re told you can’t qualify for a mortgage
If you’re trying to purchase or refinance a home and you’ve been turned down, read on. Perhaps your income is not up to par, or your credit score is not up to par or there’s some sort of material financial situation making your loan application problematic. Here is what to know… Most mortgage companies generally…
Read MoreHow to buy a home 2-1 and 3-2-1 Buydown Program
If you’re thinking about purchasing a home and you’re worried about the mortgage payment. Fear not, some, but not all mortgage companies might offer a buy-down program allowing you to get a below-market interest rate… It’s no surprise mortgage rates are presently on the higher side averaging 6.4 to 6.99 depending on your credit score,…
Read MoreHow a future recession may impact your plan to buy a home
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…
Read MoreShould you buy a house or wait for the market to improve?
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.…
Read MoreYou just got notice to vacate, should you buy a house or continue to rent?
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…
Read MoreTwo ways to get your purchase offer accepted
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…
Read Morewhy your mortgage application could be denied
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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