The Mortgage Files

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

How to avoid getting a jumbo loan due to Coronavirus

New Mortgage Loan Limits for 2023

By Scott Sheldon / December 4, 2022

The Federal Housing Finance Agency announced on Tuesday, November 29th the new loan limits for 2023. The new conforming loan limit has increased and has been year over year 7 years in a row. If you’re thinking about purchasing or refinancing a home in 2023 here is what you need to know… The loan limit…

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how a recession could impact your home buying

How a future recession may impact your plan to buy a home

By Scott Sheldon / November 20, 2022

If you’ve been thinking about purchasing a home and you’ve been on the fence because of economic conditions. The following information could assist you in helping to determine when and/or if you should purchase a home… The concern many home buyers have right now is “I want to wait and see”.  Purchasing a home in…

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Should you refinance with your current mortgage servicer?

Should you refinance your current mortgage?

By Scott Sheldon / March 6, 2022

People looking to refinance their homes are always looking for a good deal. It goes without saying you’ll want to do the best you can for yourself financially. Get the best combination of rate, price, and customer service. Here are some things that you should give some consideration to when choosing who to work with…

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How your ex can make your mortgage application difficult

Your ex can make your mortgage application difficult

By Scott Sheldon / February 27, 2022

You’re trying to purchase or refinance a home. You have an ex that you’re dealing with that you were either married to or on the title to a property with. The mortgage process depends on what that communication looks like with that other person. It could be very easy or more technical and challenging. Yes,…

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Should you buy a single family or mobile home?

What type of mortgage lender are you looking for?

By Scott Sheldon / February 13, 2022

Not all mortgage companies are the same. What type of lender or mortgage professional you work with can make the difference between you being successful in your home-buying endeavor or not. You want a lender, or someone working on your behalf who has the “whatever it takes” approach to helping you with financing. No matter…

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How to purchase a house with a partial down payment

How to purchase a house with a partial down payment

By Scott Sheldon / December 12, 2021

How do you buy a house with not quite enough money? Contrary to popular belief you can buy a house even if you don’t have enough money to do it. It’s a little technical but it’s going to require you, your realtor, and your lender to put your heads together. Here’s how it can be…

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mortgage self employed bad income tax year 2020 covid 19

How to get a mortgage if your 2020 tax return was low due to covid_19

By Scott Sheldon / September 19, 2021

As we are entering into pandemic manageability, one of the things lenders are still looking for as it pertains to self-employment borrowers is positive income from your tax return… Both Fannie Mae and Freddie Mac and the FHA and the VA all want two years of tax returns. Lenders also these days request a year-to-date…

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Should you buy a home in cash or finance it?

Looking to buy a house the summer? You’ll need a down payment

By Scott Sheldon / July 3, 2021

As interest rates still remain low many people who have been on the sidelines about buying a house are now coming out of the woodwork. Maybe they’re buying a first home or a move-up home but there is strong demand for housing across the nation in every city and the county throughout the United States.…

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