The Mortgage Files

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

Why long term term open housers need pre approval

Why long term term open housers need pre approval

By Scott Sheldon / May 13, 2024

Title: Navigating the Home Buying Journey: Why Long-Term Open Housers Need Pre-Approval If you’re the type to spend weekends browsing open houses without immediate plans to buy—affectionately known as a “weekend warrior home buyer” or a “long-term open houser”—you understand the thrill of the hunt. There’s a unique excitement in exploring potential homes and imagining…

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Understanding Mortgage Rates and Their Impact on Home Buying Power

Understanding Mortgage Rates and Their Impact on Home Buying Power

By Scott Sheldon / May 8, 2024

Navigating the world of real estate financing can often feel like trying to hit a moving target, especially with the constant fluctuations in mortgage rates. Following is how to break down the often complex relationship between mortgage rates and home buying power, helping you understand how these changes can impact your pursuit of the American…

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how lower rate changes your purchasing power

How improving mortgage rates drive purchasing power

By Scott Sheldon / December 17, 2023

Are you in the market for a new home? You might want to take advantage of the current trend in interest rates. In recent weeks, interest rates have come down by about half a percent, which can mean a significant increase in your purchasing power. If you are pre-approved with a mortgage company and looking…

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Should you buy a home in cash or finance it?

Should you buy a home in cash or finance it?

By Scott Sheldon / October 8, 2023

If you’re looking to buy a house and you have the economic means to do so, you might be considering whether it makes sense to buy the house in cash and be mortgage free or take out mortgage loan. At the end of the day, it boils down to personal preference, However, before you make…

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How to align expectations with market conditions to buy a home

How to align expectations with market conditions to buy a home

By Scott Sheldon / September 17, 2023

You have decided to you want to buy a home. You supply the lender with all your paperwork, and you know you can afford a mortgage even if it’s a little outside of your payment comfort, but for whatever reason you just can’t seem to get into a contract. The stars are not aligning, which,…

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How to maximize purchasing power when buying a home

Why the current mortgage dilemma is a bigger problem than most think!

By Scott Sheldon / July 9, 2023

If you have a really low mortgage rate on your home right now, but you want to buy another home, there needs to be some sort of justification, for giving up the historic, low-interest rate to go into a higher-priced mortgage,  here are some things consumers have to weigh out as a relates to making…

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

5 signs you should wait to buy a house

By Scott Sheldon / June 25, 2023

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…

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How numbers in the mortgage process may change

How numbers in the mortgage process may change

By Scott Sheldon / June 4, 2023

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…

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