(302) 703-0727

(302) 703-0727

Mortgage Interest Rate Weekly Update May 23, 2016

John Thomas May 23, 2016 Tags: , , , ,

Mortgage Interest Rate Weekly Update May 23 2016

Mortgage Interest Rate weekly update for the Week of May 23, 2016 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware.  Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Interest Rates moved higher last week as mortgage bonds sold off as Federal Reserve announced that are looking to hike the Feds Funds Rate in June 2016.  If you look at the mortgage bond chart below you can see the sell off in bonds last week.  Bonds were able to find support at the 100 day moving average and may be ready to make a move higher which would move interest rates lower.  Therefore we are recommending FLOATING Your mortgage rate to start the week.

Keep Reading...

Delaware Home Buyer Seminar June 18 2016

John Thomas May 22, 2016 Tags: , , ,
featured image

Delaware Home Buyer Seminar

There will be a Delaware Home Buyer Seminar on Saturday June 18, 2016 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive Delaware home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs such as Delaware State Housing Authority, New Castle County, City of Newark, City of Dover, and City of Wilmington.

Keep Reading...

Mortgage Interest Rates Updates May 16, 2016

John Thomas May 15, 2016 Tags: , , , ,
featured image

Mortgage Interest Rates Weekly Update May 16 2016

Mortgage Interest Rates weekly update for the Week of May 16, 2016 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware.  Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Interest Rates remain at 3 year record lows! Now is  the best time to refinance or purchase a home in a very long time. If you look at the mortgage bond chart below you can see bond prices have been capped by the blue line since February.  Every time the bond has hit the blue line it has been turned lower which means rates would move higher so we are recommending LOCKING your mortgage interest rate at these record lows unless the bond can close above that blue line.

Keep Reading...

Delaware First Time Home Buyer Seminar May 21

John Thomas May 14, 2016 Tags: , , ,
featured image

Delaware First Time Home Buyer Seminar

There will be a Delaware First Time Home Buyer Seminar on Saturday May 21, 2016 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive Delaware home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs such as Delaware State Housing Authority, New Castle County, City of Newark, City of Dover, and City of Wilmington.

Keep Reading...

Newark, Delaware Home Buyer Seminars – March 19th and April 16th

John Thomas March 19, 2016 Tags: , ,
featured image

Upcoming Delaware Homebuyer Seminars

Totally free for attendees, our seminars have educated more than 10,000 Delaware and Maryland homebuyers.

Next Seminar Dates:

March 19, 2016 – 10:00am in Newark, Delaware March 26, 2016 – 10:00am in Dover, Delaware April 16, 2016 – 10:00am in Newark, Delaware

The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware.

Each participant will receive a free credit scoring handbook, free home buying handbook, and an opportunity to meet with a certified mortgage planner to be pre-approved to buy a home at the seminar.

You will also learn the following:

Keep Reading...

Is the Limited FHA 203k Different from the Streamline 203k?

John Thomas March 11, 2016 Tags: , , ,
featured image

FHA 203k Limited – How Is It Different from the Streamline 203k?

The Limited FHA 203k has arrived. In September of 2015 the staple of renovation financing – the Streamline 203k -got a facelift and was replaced by the new and improved Limited FHA 203k.

So, what changed with our favorite renovation loan and how will it affect Delaware borrowers looking to employ FHA 203k financing?

Many of the changes were semantic – updating disclosures, forms and worksheets – and will have little affect on how you obtain renovation financing or the scope of work you are allowed to employ.

Keep Reading...

Renovations NOT Allowed on FHA 203k Loans

John Thomas February 24, 2016
featured image

What Repairs Can I NOT Do With a FHA 203k Loan?

FHA’s 203k program is flexible and allows a lot of leeway when it comes to the property you can buy and the repairs, renovations and upgrades you can complete as part of the loan.

You can finance everything from second story additions, to finished basements, new kitchens or that large master suite you always wanted.

There are, however, some repairs that you can not do as part of the 203k process. So, what are the improvements you absolutely can’t do with a 203k?

Outbuildings | Guesthouses | Non-Attached Structures

The property you want to purchase has a second structure; a rental cottage, pool house, guest house, detached converted garage, workshop or superlative storage shed. That structure is not in good condition and needs some work.

Keep Reading...

Why You Should Prioritize Energy Efficiency When You Renovate

John Thomas February 18, 2016
featured image

Why Energy Efficiency Must Be a Priority On Your Renovation

Instead of being an implicitly smart piece of modern society, energy efficiency and the whole green movement have been effectively politicized.

By flipping the script on the issue and turning it from financially wise to politicized, certain people have produced ignorance and apathy around embracing a more sustainable, energy efficient lifestyle.

Why? Why do people allow the narrative to constructed for them instead of shaping it themselves?

Let us have an educated discussion minus any tree hugging. let’s talk dollars and sense by focusing on the the personal economics of the issue.

Keep Reading...