The Mortgage Files

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

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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Tax Return Debt and Mortgages

Why not paying your self employed tax debt may cost you a mortgage  

By Scott Sheldon / June 28, 2021

When you’re self-employed and you’re looking to get a mortgage it’s super important that not only you file the right amount of income, but you also pay whatever debt is associated with the income you report, that is if you want to get a mortgage loan…If you’re self-employed and looking to buy a house or…

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2024 Conforming & FHA Loan Limits increased!

Should you buy a house or keep saving? The answer might surprise you

By Scott Sheldon / June 21, 2021

In order to buy a house successfully unless you’re a military veteran using VA financing you absolutely need a down payment. Down payment assistance programs, no money down programs that do exist is challenging to qualify for, let alone getting into contract.  Here is what to know… That being said you need at least $20k…

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New Jobs and Mortgages

Can you get a mortgage with a brand new job or a recent raise?

By Scott Sheldon / June 14, 2021

One of the most important things consumers have to deal with when securing mortgage loan financing besides having a good credit score and a good down payment is having income to actually offset the proposed liability i.e, a  mortgage payment. Income is single-handedly the most important thing because it drives affordability. Lenders and banks know…

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what to know about home loan appraisals right ow

What’s happening with home appraisals

By Scott Sheldon / June 4, 2021

When you go to purchase or refinance a home you need to get an appraisal. More often than not you usually will be based on the type of transaction that you’re doing. Here is the reality of today’s world with regards to appraisals and what you should expect when you’re buying or refinancing a home……

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how to buy a home and make your offer stronger

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…

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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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How buy a home with 0 down payment

Can you realistically buy a home with no money down?

By Scott Sheldon / May 5, 2021

In order to be successful in real estate, you need to take the advice of a good quality lender experienced in the local area in which looking to purchase. While it is possible to secure a no down payment program, closing on a home in this unique real estate market is another matter. Following is…

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