The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
Should you refinance into a higher rate mortgage?
It is no surprise inflation is upon us, and interest rates are feeling the rising cost of goods and services. Everything seems like it is going up in price. Mortgage rates are no exception. One thing you might want to consider as it relates to refinancing your house is there is a net tangible benefit.…
Read MoreShould you refinance during rising rates?
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…
Read MoreHow to get a mortgage if your income was affected by Covid_19 in 2020
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…
Read MoreHow you use your money make affect your mortgage options
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…
Read MoreWhat to know about refinancing with a second mortgage
Many people desiring to refinance are taking advantage of historically low-interest rates. One of the challenges when refinancing your house is when you have a second mortgage. Here is what you need to know if you’re trying to refinance and you have a second loan… If your desired to refinance and you have a first…
Read MoreHow to get a mortgage when your self employed income is tricky
Not always, but traditionally, self-employed borrowers have a hard time securing mortgage loan financing. If you are filing self-employed and you are trying to get qualified for mortgage financing here are some solid tips to keep in mind… Most mortgage lenders are going to require you to provide 2 years of federal tax returns. They…
Read MoreTypes of loans you can get based on your credit score
Credit is one of the biggest parameters of a lender’s decision to grant you a loan approval or not. There’s a lot of misconceptions out there floating around the internet about what you can and can’t do with the type of credit that you have. Here’s some things to consider if you’re worried about your…
Read MoreWhy waiting for mortgage rates to get better is a losing proposition
Why waiting for mortgage rates to get better is a losing proposition Purchasing or refinancing a house for many families is a staple of the American Dream. One of the best ways to gage affordability is getting a good interest rate which is a function of your total monthly mortgage payment… Mortgage rates change based…
Read More