About the Author

Scott Sheldon is senior loan officer and consumer advocate based in Santa Rosa, CA. His work has appeared in Yahoo! Homes, CNN Money, MarketWatch and The Wall Street Journal. Connect with him at Sonoma County Mortgages.

Stories by Scott Sheldon


Should You Ditch Your Adjustable-Rate Mortgage?

As both mortgage rates and short-term interest rates remain low, many borrowers are now wondering whether moving into a fixed-rate loan makes financial sense for them.

Mortgage Refinance Application Form with pen, calculator

Refinancing? It'll Likely Take Longer Than 30 Days

Lenders, banks and credit unions are experiencing higher aggregated volume than their normal operational capacity supports during this time of year.

Calculator and pencil

6 in 10 Qualify for a Mortgage: Do You?

Here are some of the more common reasons why would-be borrowers face rejection.

Home on stack of bills

Self-Employed? Avoid These Common Borrower Traps

If there’s one type of borrower in this credit market whose profile has been scrutinized the most, it’s the sole proprietor.

Cash locked down

What You Need to Know About Mortgage Rate Locks

Whether buying a home or refinancing a mortgage, your mortgage lender will require you to lock your rate on the amount borrowed no later than five days prior to closing.

Mortgage and down payment

No-Cost Mortgages Still Cost

No-cost mortgages offer consumers the ability to pay no closing fees, but the fees associated with these loans still need to be paid, and the cost comes in the form of a higher interest rate.

house on packs of banknotes

Which Mortgage Company Should Handle Your Home Loan?

Mortgage companies have many designations, and understanding the small differences between the various companies could help you get the most competitive rate on your loan.

Home-percentage rate

How the Election Could Influence Mortgage Rates

How the election’s results will be perceived by the financial markets could cause mortgage rates to gyrate.


How Much Income Do You Need to Buy a House?

When it comes to finances, you might find a disparity between how much house you want and how much house you can purchase given your gross monthly income and other factors.

Credit Report

How Your FICO Score Affects Your Ability to Get a Mortgage

Simply put, the lower the credit score, the higher the interest rate.

Disappointed man

10 Reasons Why You Cannot Buy a House

In today’s market, buying a house requires diligence, a little bit of luck and a lot of planning.

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