The Mortgage Files

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

Mortgage charts being worked on

How to time the market to buy a home

By Scott Sheldon / January 20, 2021

Purchasing a home is one of the biggest staples of wealth for most families in America. It’s the largest thing in their life that can create big wealth creation. Here are some things to be aware of if you’ve been on the sidelines and you’re trying to figure out when is really the best time…

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Mortgage Loan Application

Should you buy a house or refinance the one you already own in 2021?

By Scott Sheldon / January 13, 2021

With fixed-rate mortgages still at historical levels, many are considering re-evaluating their home and financial situation. One strategy might be to remodel the house you presently have another might be to acquire a new house. Here are some things to consider when exploring both options so you and your family can weigh out what makes…

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Home unlocked with key

How you use your money make affect your mortgage options

By Scott Sheldon / December 30, 2020

If you want a mortgage you need to be prepared financially and have all your ample documentation set up and ready to go. One such thing you need to be aware of is using cash. Here’s how to best support your cash when using down payment monies and or reserves to purchase a home…. First…

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Unlocking Dreams: A Festive Dip in Interest Rates

How to make sure your mortgage application makes sense

By Scott Sheldon / December 23, 2020

Consumers securing mortgage loan financing today at times might be frustrated with the amount of paperwork needed to get their mortgage application signed off.  As a result, you must meet ATR which is ability-to-repay requirements to secure mortgage financing. As a result, some people depending on how technical their file is may experience more paperwork…

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Home with Calculator

Why your granny unit might ding your mortgage application

By Scott Sheldon / December 17, 2020

People trying to refinance their mortgages to take advantage of favorable current market conditions might come to realize they have a problem with their house. A granny unit can be a wonderful opportunity to maintain a mortgage, drive affordability as part of the broader budget, however, if it’s not done in the right way, it…

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Monopoly Piece-Like House

Why your mortgage loan application might be delayed

By Scott Sheldon / December 7, 2020

With interest rates being at historical lows more and more people are applying for mortgages and nationally mortgage banks and lenders across the country are experiencing unprecedented amounts of volume, expect delays. If you’re purchasing or refinancing a home follow is what you need to understand and be aware of… The coronavirus pandemic has created…

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Keys in Palm of Homebuyer's Hand

The 3 most common mortgage loan types

By Scott Sheldon / November 25, 2020

Picking the right mortgage loan type for your family is a big financial decision. Here are some things to consider about the three most popular types of mortgages and what the pros and cons and differences are between all three… Most mortgages today are for 30 year fixed rates. There are other terms available such…

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Single Housekey in Owner's Hand

The number one reason why you shouldn’t buy a home

By Scott Sheldon / November 19, 2020

Buying a home is a balancing act between a mortgage payment in relation to present and future expenses. One of the biggest challenges people have when buying a house is being able to plan a family budget around a mortgage payment. Real estate is not black and white, it is not linear sometimes it’s a…

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