The Mortgage Files

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

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 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…

The 3 different types of home buyers

By Scott Sheldon / March 12, 2021

In today’s market to be successful in getting mortgage financing you need to be realistic about what you can afford what you can expand and what your financial situation will support. Hear 3 different ways to look at buying a home so you can figure out where you are in the bigger picture of things…

How to be a successful home buyer in 2021

By Scott Sheldon / February 22, 2021

If you want to be a successful home buyer, here are the following things you need to be aware of if you want to buy a house in 2021… It goes without saying interest rates are at extremely low levels. Those low-interest rates are fueling demand for housing. So let’s say you’re pre-approved and you’re out…

Where should you go to refinance your mortgage?

By Scott Sheldon / February 10, 2021

With interest rates still at historically, low levels many homeowners are discovering they can refinance to lower their interest rate, drop PMI, pull cash out, or move to an aggressive shorter-term mortgage than ever before due to global and economic events presently happening in the coronavirus pandemic… Where to get your mortgage and more particularly…