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Asset Qualifier Loan Program

Do you have assets but are unable to provide sufficient income to qualify for a mortgage loan? Our Asset Qualifier Loan program also know as Asset Depletion Loan or Asset Utilization Loan, allows borrowers to use their liquid assets to be used as income to qualify for a mortgage loan. This program does NOT require employment or income to justify your ability to repay. We qualify based on required assets that meet the seasoning requirements. This is a great program for retirees, undeserved self employed, divorced borrowers with no income, and other borrowers with large assets but no income. You can get started today by calling the John Thomas Team at 302-703-0727 or APPLY ONLINE. Keep Reading...

FHA Loan Limits 2025

John Thomas December 1, 2024 Tags: Delaware FHA Loan Limits 2025, FHA Loan Limits 2025

The Federal Housing Agency (FHA) released its FHA Loan Limits 2025 on November 26, 2024. The FHA Loan Limits have increased and will be available for FHA borrowers for purchase or refinance with FHA case numbers assigned on or after January 1, 2025. The increase in loan limits will increase the purchasing power for home buyers as well as allow homeowners to tap into more of their existing equity on a FHA Cash Out Refinance. If you want to apply for a FHA loan or have questions, give the John Thomas Team a call at 302-703-0727 or APPLY ONLINE. Keep Reading...

Conventional Loan Limits 2025

John Thomas December 1, 2024 Tags: Conforming Loan Limits 2025, Conventional Loan Limits 2025

Conventional Loan Limits have increased for 2025 from $766,550 for a 1 Unit Property up to $806,500. This new maximum baseline conforming loan limit is effective January 1, 2025. Conventional Loans are backed by Fannie Mae and Freddie Mac. The announcement was made November 26, 2024 by the Federal Housing Finance Agency (FHFA). Primary Residential Mortgage is taking applications as of 11/26/2024 at the new higher loan limits on conventional loans and not waiting until January 1, 2025. If you would like to apply for a Conventional Loan, give the John Thomas Team a call at 302-703-0727 or APPLY ONLINE. Keep Reading...

Student Loan Cash Out Refinance

John Thomas September 3, 2024 Tags: Fannie Mae Student Loan Cash Out Refinance, Sudent Loan Cash Out Refinance

Student Loan Cash Out Refinance, Let your home pay off your student loans. The money you need to graduate from the student debt is right inside of your front door with better rates than a traditional cash-out refinance! You may already know that refinancing your home loan can help net you a lower mortgage interest rate, but what you may not know is it can also get you cash to pay off the balance of your student loans. PRMI’s Student Loan Cash Out Refinance can put an end to your student loan payments and get you better terms for your mortgage payments, all in one easy transaction. Get started today by calling the John Thomas Team at 302-703-0727 or APPLY ONLINE. Keep Reading...

PRMI Home Sense Buy Before Your Sell Program

John Thomas August 27, 2024 Tags: Bridge Loans, Guaranteed Offer, home Sense

PRMI Home Sense Buy Before Your Sell Program allows home buyers that have a home to sell to purchase BEFORE they sell their current home WITHOUT having to qualify to carry both mortgages. Home Sense allows you to buy before you sell with greater certainty, competitiveness, and convenience throughout the home buying and selling journey. The program has two parts; a Guaranteed Offer to purchase your current home and a Bridge Loan to access your equity to purchase your new home. Get the convenience to move on your schedule, streamlining the transition between homes without slowing you down. Get started today by calling the John Thomas Team at 302-703-0727 or APPLY ONLINE. Keep Reading...

DSHA First State Home Loan DPA Program

John Thomas August 18, 2024 Tags: Delaware Down Payment Assistance, Delaware First Time Home Buyer

DSHA First State Home Loan Down Payment Assistance Program was formerly known as the Preferred Plus DPA Program. The First State Home Loan is a second mortgage loan to help Delaware home buyers with down payment and closing costs. The program is a 0% interest loan and requires no payments for 3% of the mortgage loan amount. The program can only be used in combination with a DSHA Welcome Home Mortgage Loan or a DSHA Home Again Mortgage Loan. Get Started by calling the John Thomas Team at 302-703-0727 or APPLY ONLINE. Keep Reading...

DSHA Home Again Mortgage Loan

John Thomas August 9, 2024 Tags: Delaware Down Payment Assistance Program, Delaware First Time Home Buyer Programs, DSHA Home Again Mortgage Loan

DSHA Home Again Mortgage Loan Program is for Delaware home buyers that do NOT meet the requirements for a DSHA Welcome Home Mortgage Loan. Delaware State Housing Authority Home Again Mortgage Program has a higher income limit and allows for non-first time home buyers to qualify for a home loan program. The program is available for anybody purchasing in the State of Delaware even out of state residents as long as purchasing in one of the three counties in Delaware. This program can be combined with any of the three down payment assistance programs offered by DSHA. Get Started today by calling the John Thomas Team at 302-703-0727 or APPLY ONLINE. Keep Reading...

DSHA Welcome Home Mortgage Loan

John Thomas June 27, 2024 Tags: Delaware First Time Home Buyers, DSHA Welcome Home Mortgage Loan

DSHA Welcome Home Mortgage Loan Program provides Delaware first time home buyers with below market interest rates home loans to make purchasing your first home affordable. If you are looking to purchase your first home in Delaware and have not owned a home in the past 3 years then this first time home buyer loan program may be the perfect solution to get you into your first home. Get started today by calling 302-702-0727 or APPLY ONLINE