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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Should you buy a house or wait for the market to improve?

Should you buy a house or wait for the market to improve?

By Scott Sheldon / July 31, 2022

One of the biggest challenges is trying to pinpoint the right time to buy a home. Interest rates are in flux and housing prices are high in most markets. So, how do you decide when to pull the trigger for the big-ticket purchase? The first is to focus on the things that you can control.…

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Two ways to get your purchase offer accepted

Two ways to get your purchase offer accepted

By Scott Sheldon / June 5, 2022

Everyone knows buying a house right now is challenging. Across the nation is a competitive real estate market brought on by an exceptionally low supply on a national level. As a result, in most markets throughout the country, homes are going over the asking price based on other competitive offers bidding up the homes. That…

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mortgages rates and covid 19

How Covid_19 completely changed mortgage rates

By Scott Sheldon / August 14, 2021

It is no surprise Covid has influenced mortgage interest rates in the last 12 months. The coronavirus and its effect on the economy in particular the financial markets have been unprecedented, to say the least. Here’s how covid changed interest rates and what you can expect going forward if you’ve been thinking about refinancing a…

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make an offer to buy a home

Why you should not hesitate on making offer to buy a home

By Scott Sheldon / May 12, 2021

Let’s say if you are in the market to be buying a home. In the current environment here some things you might want to be aware of with regards to acting on a house that’s affordable and within your budget… You have found the family home that you could afford and it is priced at…

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Here's a strategy to buy a home and set up a future refinance

How much money you need to purchase a home

By Scott Sheldon / April 21, 2021

The old adage you need 20% down to buy a home these days couldn’t be further from the truth. Contrary to popular belief, you only need a very small down payment to be successful in purchasing a home. 20% down is the old school mantra of lending however if you can put down 20% your…

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how to figure out mortgage rates

Here’s what you need to understand about today’s mortgage rate environment

By Scott Sheldon / March 19, 2021

Interest rates are presently unstable. As a result of this instability brought on by some of the global and national events, we are in a very unique situation where rates literally from one day to another multiple times per day. The market for hunting for terms and price above all else was in 2020.  Here’s…

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New Home

3 elements you must have in your financial life to buy a home

By Scott Sheldon / January 27, 2021

2021 might be the year to purchase a home. With the combination of ultra-low interest rates buying a home could absolutely be something within your reach. Timing the market not a good idea, buying a home when your finances and cash and credit and income support generally makes sense if you have a buy and…

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