(302) 703-0727

(302) 703-0727

Newark Delaware Home Buyer Seminar May 11 2019

John Thomas April 25, 2019 Tags: ,
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Newark Delaware First Time Home Buyer Seminar

There will be a Newark Delaware First Time Home Buyer Seminar on Saturday May 11, 2019 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 home buyer seminar will cover all of the basics of buying a home in Delaware. The Newark Delaware First Time Home Buyer seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.  We will also cover the Delaware Mortgage Credit Certificate Program which is also know as the Delaware first time home buyer tax credit which give you up to $2,000 a year as a federal tax credit for every year you have the mortgage loan. Keep Reading...

FHA One-Time Close Construction Loan

John Thomas April 23, 2019 Tags: , , ,
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Is a FHA One Time Close Construction Loan right for you?

Two isn’t always better than one. Let me explain.

If you’re building your house from the ground up, you’ll most likely take a construction loan followed by a permanent loan. This scenario will require you to have 2 loans, which means you’ll have 2 start dates and 2 closing dates—which means you’ll pay for 2 separate closing costs!

An FHA one-time close construction loan, however, will allow you to have your home built and financed just under one loan. It’s simpler and more cost-efficient and you end up with a FHA Loan with a 30 year fixed rate when all is said and don Keep Reading...

Mortgage Rates Weekly Update [April 14 2019]

John Thomas April 14, 2019 Tags: ,
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Mortgage Rates Weekly Update for April 14, 2019

Mortgage Rates Update for April 14, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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 Rates moved higher last week as the stock market surged. If you look at the mortgage bond chart below, you can see mortgage bonds sold off on Friday and dropped below the 25 day moving average which will now at as a ceiling of resistance. The next floor of support is the 50 day moving average. We are recommending LOCKING your mortgage rate if closing in the next 30 days as mortgage bonds have still not found a floor of support. Keep Reading...

A Gift Fund or Gift of Equity Can Be Your Best Gift Ever

John Thomas April 4, 2019 Tags: , , ,
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Did you know? Nearly 25% of first-time home buyers use cash gifts as down payment on their home, according to the 2017 National Association of Realtors Profile of Home Buyers and Sellers report.

Yes, it’s true.

Many people find it difficult to purchase their first home when cost meets financial constraints (like having to pay off student loans despite good-paying jobs).

Here’s where caring friends and family may step in and help out—by offering a gift fund or a gift of equity.

What Is a Gift Fund and What Is a Gift of Equity?

When you’re looking to buy a house and you’re getting a loan, any money that your relative wants to contribute toward the purchase of your home is called a gift fund. Gift funds are common when a person buying a home doesn’t have all the liquid money to purchase it and a relative is willing and able to help supplement their financing needs.
Keep Reading...

Mortgage Rates Weekly Update [March 10 2019]

John Thomas March 11, 2019 Tags: ,
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Mortgage Rates Weekly Update for March 10, 2019

Mortgage Rates Update for March 10, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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 Rates moved lower last week after mortgage bonds were able to rally higher. If you look at the mortgage bond chart below, you can see mortgage bonds broke beneath support on Tuesday with the long candle but were able to reverse and rally higher to end the day. Bonds were able to build on this bounce off support and move higher all week to end the week in the middle of a trading channel with room to move higher. We are recommending FLOATING Your mortgage rate to start the week Keep Reading...

Mortgage Rates Weekly Update [March 3 2019]

John Thomas March 4, 2019 Tags: ,
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Mortgage Rates Weekly Update for March 3, 2019

Mortgage Rates Update for March 3, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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 Rates moved higher last week as the stock market continued to rally higher. If you look at the mortgage bond chart below, you can see mortgage bonds sold off and broke beneath three floors of support: the 25 day moving average, the 50 day moving average, and the Fibonacci level at 101.85. This is very bad news for mortgage bonds as they can’t seem to find a floor of support so we are recommending LOCKING your mortgage rate to start the week. Keep Reading...

Mortgage Rates Weekly Update [February 24 2019]

John Thomas February 24, 2019 Tags: ,
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Mortgage Rates Weekly Update for February 24, 2019

Mortgage Rates Update for February 24, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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 Rates moved slightly Lower to end the week as mortgage bonds were able to rally of floor of support. If you look at the mortgage bond chart below you can see bonds were able to rally off the floor of support to end the week Friday. Mortgage bonds have finished in the middle of a sideways trading channel with some room to move higher so we are recommending FLOATING your mortgage rate to start the week. Keep Reading...