The Mortgage Files
Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.
5 signs you should wait to buy a house
If you’re thinking about buying a home, but you’re just not sure. You’re probably better off listening to your gut. That looming credit card debt, or personal loan, that you just can’t seem to kick whatever the case may be here are five reasons you might want to think about waiting to purchase a home…
Read MoreHere is a smart mortgage strategy for buying a home in 2023
If you’ve been on the fence about buying a home and you’re thinking about potentially getting prequalified. Here are some things you should give some consideration to… You might be telling yourself “I don’t want to buy a home right now because interest rates are kind of high.” The question becomes in relation to what?…
Read MoreHow numbers in the mortgage process may change
When you apply for a home the lender analyzes your credit score, your income credit score, and assets in determining your eligibility to buy a home. If anything changes in the process, numbers can as a result… Numbers can change in the process in any number of the following ways- insurance on your home is…
Read MoreHow earning more income affects your ability to buy a home
If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…
Read More5 ways you will not get a home loan to buy a home
Most people given a choice would desire to purchase a home, arguably, given their financial situation, and their ability to handle a monthly housing payment. Oddly enough, there are times from a lender’s perspective you might not get a home loan and it has nothing to do with your credit score, credit, history, income, or…
Read MoreWhy an FHA Mortgage is by far the best out of the box loan option to buy a house
FHA loans which are loans ensured by the federal housing administration oftentimes have gotten a bad rap, for the costs associated with them as well as the types of properties that will be insured by the FHA. The reality of it is that the NFA chain loan is by far unequivocally the most flexible loan…
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 assumable mortgage loans work
If you’ve been thinking about buying a home and have been discouraged about interest rates you might be able to assume the seller’s mortgage. Think it’s too good to be true? It’s not. Here’s some information that you might need to know as it relates to assuming someone else’s mortgage when buying a home… Let’s…
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