The Mortgage Files

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

6 things you need for a mortgage

Your Student Loan Credit May Secretly Limit Your Mortgage Options

By Scott Sheldon / October 17, 2015

If not handled properly, your student loan may adversely change your home purchase plans. Here’s what you probably don’t know regarding your student loan servicer… Just like any other credit obligation, your student loan servicer reports to the credit bureaus. Even if the payment is deferred, the obligation still reports every 30 days much like…

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The Truth About The Media’s Reporting On Interest Rates

The Truth About The Media’s Reporting On Interest Rates

By Scott Sheldon / September 2, 2015

Have ever heard about mortgage rates in the media only to then call a mortgage company and receive conflicting information? Here is why the media’s reporting on rates should be taken with a grain of salt… Know this-real time information is critical. When you hear about mortgage rates moving in the news, by the time…

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The Recent Mortgage Guideline Changes That Could Save Your Loan

The Recent Mortgage Guideline Changes That Could Save Your Loan

By Scott Sheldon / August 22, 2015

The challenges consumers have faced in recent years in procuring a mortgage may be coming to an end. Here are four major changes making your mortgage easier… Landlord History-until recently, in order to qualify for conventional loan financing you needed to show a history of being a landlord for the most recent last 24 months.…

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3 Low Down Payment Options First Time Buyers Have To Get Their Foot In The Door

By Scott Sheldon / April 9, 2015

Demand for housing remains strong as we enter this spring season. Renters are finding buying a home may even in some cases be less than renting. If you don’t have a lot of cash are looking to purchase your first home this year read on…. How Much Cash You Will Need Hint- it’s less than…

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5 Simple Reasons You Are Being Denied A Mortgage

By Scott Sheldon / February 21, 2015

Gearing up to refinance or buy a home this year?  These five nuances may stop your financial plans dead in the tracks. Here’s what to know to avoid your mortgage loan application being denied… Your Credit Score Is Not What You Think It Is Happens every day. A consumer will get one credit score from…

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Do I Need To Provide Bank Statements For Getting A Sonoma County Loan?

By Scott Sheldon / January 21, 2015

Yes, lenders will need full supporting documentation showing cash to close and/or savings in the bank necessary for qualifying on whichever loan program you are working with. Expect lenders to require at least two months of bank statements on any monthly account, and most recent last two quarters on any quarterly accounts same goes for…

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What's the best way to determine a breakeven on a santa rosa refinance loan?

By Scott Sheldon / January 6, 2015

This can be accomplished in a variety of ways, but the most common way is to take the monthly savings you generate by refinancing your home and divide it into the capital idea closing costs required to complete the refinance. If you can breakeven in 2 to 3 years, this in most cases is normal…

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Mortgage Shop Santa Rosa

By Scott Sheldon / November 29, 2010

To Mortgage Shop Santa Rosa be prepared for current mortgage rates to change frequently. Everyone knows they should Mortgage Shop Santa Rosa at least on a preliminary level makes sense in order to compare the most current mortgage rates on any home loan. Unlike shopping for a car or a camera to begin your mortgage…

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