The Mortgage Files

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

How different mortgage loan types impact how much money you can get for seller credits

How different mortgage loan types impact how much money you can get for seller credits

By Scott Sheldon / July 16, 2023

If you’re thinking about buying a home and you’re short on cash, here are a few things you might want to consider as it relates to downpayment and closing costs… There are two main mortgage types; government-backed loans, and government-insured loans. Government-backed loans are Fannie Mae and Freddie Mac while government-insured loans are FHA &…

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Why hourly wage earners sometimes have a hard time getting a home loan

Why hourly wage earners sometimes have a hard time getting a home loan

By Scott Sheldon / May 9, 2023

You’re all excited to purchase your first home, you have a good job, you have a good down payment, and you’ve got a good credit score. What could go wrong, right? Here’s an occurrence that happens pretty frequently you might not know about and more specifically what to do about it as it relates to…

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how to get make the right mortgage loan decision for you

Why most financial experts get mortgages wrong

By Scott Sheldon / July 18, 2021

There’s so much financial misinformation online it’s inundating. Here are some things the experts say as it relates to housing and mortgages for you to consider when trying to get financially ahead… You have to put down 20% to purchase a house  The reality is nothing could be further from the truth. They say this…

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what to know about home loan appraisals right ow

What’s happening with home appraisals

By Scott Sheldon / June 4, 2021

When you go to purchase or refinance a home you need to get an appraisal. More often than not you usually will be based on the type of transaction that you’re doing. Here is the reality of today’s world with regards to appraisals and what you should expect when you’re buying or refinancing a home……

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mortgage income covid 19 202

How to get a mortgage if your income was affected by Covid_19 in 2020

By Scott Sheldon / May 25, 2021

If you experienced any financial difficulty in 2020 and are now back on your feet and looking to purchase or refinance a home this information is for you… Every mortgage company is going to review your situation a little bit differently unfortunately, it’s not one size fits all as a result some lenders have an…

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Refinance with Sonoma County Mortgages

Where should you go to refinance your mortgage?

By Scott Sheldon / February 10, 2021

With interest rates still at historically, low levels many homeowners are discovering they can refinance to lower their interest rate, drop PMI, pull cash out, or move to an aggressive shorter-term mortgage than ever before due to global and economic events presently happening in the coronavirus pandemic… Where to get your mortgage and more particularly…

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Mortgage and Lockdown viewed on tablet device

How to get a mortgage with a forbearance due to Covid_19

By Scott Sheldon / February 3, 2021

One of the big challenges of the coronavirus pandemic is how it has shaped not the mortgage industry but also peoples’ financial ability to sustain mortgage payments. Credit risk is and was and is still currently an issue for many families and banks and lenders across the country. If you’re trying to refinance your mortgage…

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Home unlocked with key

How you use your money make affect your mortgage options

By Scott Sheldon / December 30, 2020

If you want a mortgage you need to be prepared financially and have all your ample documentation set up and ready to go. One such thing you need to be aware of is using cash. Here’s how to best support your cash when using down payment monies and or reserves to purchase a home…. First…

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