Delaware Mortgage Loans

Delaware Mortgage Loans

Delaware Home-Buyer Education

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Home-Buyer Education Seminars

Classes last about 2 hours and you’ll receive your FICO® Credit Report and Home-Buyers Handbook free for attending. Your free home-buyer education class will cover all of the basics of buying your dream home. We also give you insider tips and advice gleaned from more than a decade of mortgage industry success.

All participants will get a free consultation with a Certified Mortgage Planner designed to put a pre-approval letter in your hand quick!

You will also learn the following at the seminar:

  • Valuable Tips on How to Improve Your Credit Score
  • How to Establish Credit if You have None
  • How to Budget to Afford a New Home
  • How to Calculate How Much Your Qualify for
  • How to Get Pre-Approved for a Mortgage
  • Learn what Mortgage Programs are available for First Time Home Buyers
  • Learn what programs are available to help with down payment and closing costs
  • Learn what your mortgage lender should be doing for you
  • Learn what your Real Estate Attorney should be doing for you
  • Learn what your Real Estate Agent should be doing for you
  • Learn what your Home Inspector should be doing for you
  • How to find the right Realtor to help you find your new home
  • How to shop for your new home
  • How to make the offer and negotiate the best price and terms
  • and much more!

We have educated more than 2500 Delaware and Maryland home-buyers over the past few years and the word is spreading. Our home-buyer seminars fill up fast so locking your spot in early is strongly advised and encouraged.

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Delaware Mortgage Rates Update for December 15, 2014

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Delaware Mortgage Rates weekly mortgage market update for the Week of Dec. 15, 2014 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware.

Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates were able to recover last and move back to all time lows for the year.  If you look at the mortgage bond chart below you can bonds were able to bounce off support last Monday and rally higher to end the week.  Mortgage Bonds are once again sitting at the highs for the year and could move either direction from here.

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Fannie Mae 97% Conventional Mortgage Loan is Back

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Fannie Mae 97% Conventional Mortgage Loan is back for qualified first time home buyers as announced by Fannie Mae on December 8, 2014. The this new loan option for qualified first time homebuyers that will allow for a down payment as low as three percent or for limited cash out refinance of home owners who currently have a Fannie Mae loan.  The lower down payment is to help qualified borrowers to access credit that may not have the resources fro a larger down payment.

These 97% Conventional loans do require mortgage insurance as the borrower is financing more than 80% of the value of the home.  The mortgage insurance can be paid on a monthly basis or paid as a one time single premium at closing.

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Dover Delaware Home Buyer Seminar January 10, 2015

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Delaware First Time Home Buyer Seminar on Saturday January 10, 2015 at 10 AM in Dover, Delaware. The seminar will last about 2 hours and each participate will be able to receive a copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware.

The seminar will cover  FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans. You will be able to get pre-approved at the seminar by a Delaware Mortgage Company.

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Delaware First Time Home Buyer Seminar January 17, 2015

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Delaware Home-Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday January 17, 2015 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 home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs.

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FHA Property Flipping Waiver Expires December 31, 2014

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FHA Property Flipping Temporary Waiver on the 90 Day Rule will expire on December 31, 2014 and will not be extended as announced by the Federal Housing Authority on December 11, 2014.  This is important news for investors and home buyers to be aware of starting January 1, 2015 as investors will need to wait 91 days before they can executed a sales contract on a flip for a buyer using FHA financing to purchase the property.

If you have questions or would like to apply for a FHA Loan to purchase or refinance a home in Delaware, please call 302-703-0727 or you can APPLY ONLINE

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Delaware Mortgage Rates Weekly Update for December 8, 2014

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Mortgage Rate Update – December 8

Mortgage Rates weekly mortgage market update for the Week of December 8, 2014 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates moved higher last week after the November Jobs Report was released by the Labor Department.  If you look at the mortgage bond chart below you can see that the trend had been for mortgage bonds to move higher until last week.  Mortgage bonds sold off most the week then dropped even more after the jobs report.

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Delaware FHA Loan Limits for 2015

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Delaware FHA Loan Limits for 2015 Announced by Federal Housing Administration on December 5, 2014 in the mortgage letter 2014-25.  The mortgage loan limits published in this mortgage letter go into effect for FHA case numbers assigned on or after January 1, 2015 and will remain in effect through December 31, 2015.

The FHA Loan Limits are based on which county the property is located.  The maximum mortgage loan limit per county in Delaware for 2015 is as follows:

New Castle County                 $379,500

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