The Mortgage Files

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

How to spruce up your offer to buy a home

By Scott Sheldon / May 18, 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 within your budget… Let’s say as a result the house you could afford is say $650k. For whatever reason, you…

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…

Should you buy an existing home or build a new one?

By Scott Sheldon / April 28, 2021

In this environment, it’s no easy feat to get your foot in the door with real estate. You really have to avenues buy a house already in existence or build a new one. Here’s the skinny on both… Building a home  Building a house is not for the faint of heart.  It requires a considerable…

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…

How to get a mortgage without tax returns for 2021

By Scott Sheldon / April 14, 2021

It goes without saying getting mortgage loan financing could be a little bit of an arduous process for some folks particularly those who have challenges showing income are in the self-employed category. The stated income loans and the loans that were created for self-employed borrowers unfortunately are very far and few these days and in…

How to handle this mortgage rate environment

By Scott Sheldon / April 7, 2021

With the new administration we have, the extra stimulus the federal government is working its way through the markets, inflation, or fears of inflation is definitely upon us and as result, an unstable mortgage rate environment is upon us… The reality of it is no mortgage loan officer no matter how good they are has…

How do you know when you are buying too much house

By Scott Sheldon / March 31, 2021

One of the strongest builders of wealth in America real state. People can buy a house and literally turned their lives around for the better and over the course of time become extremely wealthy as a result of owning real estate. If you’re going to go broke after you make your mortgage payment each month…

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…