The Mortgage Files

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

how to refinance with a lower appraised value

How to handle a lower home value when refinancing your mortgage

By Scott Sheldon / July 21, 2019

When you apply to refinance your house one of the risks you inevitable agree to is your application is subject to a loan to value. Here is how to handle a situation where you value is beneath initial estimates… One of the things you must have you when refinance is a loan to value determined…

Read More
why your mortgage goals why not happen

Should you refinance with today’s mortgage rates?

By Scott Sheldon / June 2, 2019

The decision to refinance can be something that requires careful consideration time and energy. If you’re thinking about refinancing here’s some things to consider… What is the number one net tangible benefit to do this refinance? This is by far the most important consideration you need to ask yourself. Is it worth all the paperwork…

Read More
hy to plan for the long term when buying a home

Should you do a cash-out refinance or get a home equity line of credit?

By Scott Sheldon / May 19, 2019

As mortgage rates continue to remain flat, it might not be a bad thing to consider really weighing out both options of getting a home equity line of credit or doing a Cash out refinance for that home improvement project or debt consolidation you have been thinking about. If you’re looking to pull money out…

Read More
Why Refinancing Today Trumps Waiting for Lower Rates Tomorrow

Mortgages: why you need to read the fine print

By Scott Sheldon / May 5, 2019

Every consumer wants to get a fair and reasonable deal on the cost of borrowing funds refinance your home or purchase a home. However, what many people get fooled into is believing that whatever they’re seeing on the internet or receiving in their mailbox is is the best choice for them. Here is what you…

Read More
what to know when getting a va mortgage

The most important things you need to know about securing a VA Mortgage

By Scott Sheldon / December 11, 2018

VA financing is the best mortgage loan program by far for mortgage Borrowers. Here are some of the nuances about VA loans that you should know if you’re considering using a VA loan for a purchase or for a refinance… The US Department of Veterans Affairs guarantees home mortgage loans for eligible military veterans up…

Read More
4 common home buyer mistakes to avoid

4 common home buying mistakes to avoid

By Scott Sheldon / October 22, 2018

When begin talking to lender about getting preapproved, you’re going to go through tons of emotions including the ultimate deciding factor whether you should buy a home or stay put. Here are the following things to avoid falling prey to prior to closing escrow on your house. Don’t get wrapped around the purchase price of…

Read More
can you buy a house with less than 600 credit score?

The credit score it takes to get a mortgage

By Scott Sheldon / August 29, 2018

To buy a house you need to have at least a good credit score, provable income that supports your ability to repay the mortgage as well as sufficient reserves and a to use for a down payment. If you’re looking to buy a house here’s what you need to know if your credit needs tender…

Read More
what you need to know about private mortgage insurane

What you need to know about private mortgage insurance

By Scott Sheldon / June 5, 2018

If you’re purchasing or refinancing a house with less than 20% Equity. You’re going to be subject to having PMI. Here’s what you need to know regarding private mortgage insurance with regards to financing your house… When you have less than 20% equity on your house the mortgage company is going to require you to…

Read More