The 1099 Income Mortgage Loan Program is a loan program designed specifically for independent contractors that receive a 1099 form at the end of the year. This programs requires NO TAX RETURNS! Qualify off your 1099 income only!! This special loan program is also called an Independent Contractor Mortgage. Most independent 1099 Contractors make good income but show very little on their tax returns because of write offs. The solution to this challenge is the 1099 Income Mortgage Loan Program. Get started today by calling us at 302-703–0727 or APPLY ONLINE.
VA 100% Cash Out Refinance Loan allows eligible veterans to refinance their home and take out a loan for 100% of the value of the home. This VA Refinance Mortgage Loan is perfect for veterans who have built up equity in their home and need to tap into it to consolidate debt or take money out to renovate their home. If you would like to see if you qualify to get access your equity, give the John Thomas Team a call at 302-703-0727 or APPLY ONLINE.
What are the Guidelines for a VA Cash Out Refinance?
The VA 100% Cash Out Refinance Mortgage Loan allows eligible veterans to tap the equity in their home if they meet the following guidelines:
PRMI Land Loans are mortgage loans for purchasing vacant land or Lot Loans. Traditional Conventional Loans do not allow for someone to purchase vacant land or lots. PRMI Land Loans allow you to purchase land without having to build on it. Land Loans are also sometimes referred to as Lot Loans or Vacant Land Loans. You apply for a Land Loan by calling the John Thomas Team with Primary Residential Mortgage at 302-703-0727 or APPLY ONLINE.
What are the Guidelines for PRMI Land Loans?
Vacant Land Loans have the following guidelines:
- Minimum Loan Amount is $100,000
- Maximum Loan Amount is $750,000
- Minimum Credit Score is 660
- Maximum Loan to Value (LTV) is 65%
- No Pre-payment Penalty
- Purchase Loans Only
- Maximum Term Length is 240 Months
What are the Eligible Property Types for Land Loans?
You can use the PRMI Land Loan to purchase the following types of property:
USDA One Time Close Construction Loan
The USDA One Time Close Construction Loan gives USDA-qualified borrowers the opportunity to finance the construction of their dream home, as well as the permanent mortgage all in a single mortgage loan with only one closing. This saves home buyers money on closing costs as traditional construction loans require 2 closings. Now you can purchase a lot and build your new home with a builder and borrower 100% of the purchase price as long as the home is in a USDA Eligible area. You can get started today by calling the John Thomas Team with Primary Residential Mortgage at 302-703-0727 or APPLY ONLINE.
PRMI Doctor Loan Program
If you have recently graduated from a medical program and our worried that your student loan debt will prevent you from qualifying for a mortgage, will the PRMI Doctor Loan Program may be just what you need. The Doctor Loan also called the Physician Loan Program has the following Features and Benefits:
- Low Down Payment (As little as 3%)
- Loan Amounts up to $1,500,000
- Adjustable Rate Mortgage Options Available
- Interested Party Contributions Allowed
You can get find out today if you qualify by calling the John Thomas Team with Primary Residential Mortgage at 302-703-0727 or you can APPLY ONLINE
Who Qualifies for the Doctor Home Loan Program?
In order to qualify for the Doctor Mortgage Loan Program, at least one of the borrowers on the loan must be licensed in one of the following fields:
City of Wilmington Delaware First Start Home Ownership Down Payment and Settlement Assistance Program is a new program to help Delaware First Time home buyers purchasing in the City of Wilmington, Delaware. The program is designed to promote homeownership in the city limits and is available beginning July 1, 2022. The down payment program will provide eligible homebuyers with loans of up to $15,000 for down payment and settlement costs for purchasing a home within the city of Wilmington. You can apply for the program by calling the John Thomas Team with Primary Residential Mortgage at 302-703-0727 or APPLY ONLINE
Fix & Flip Loans are short term, real estate loans used to purchase and rehab a property to sell as soon as possible which is typically in 3 to 12 months. These loans are called Hard Money Loans and are used only for investment property projects. Real Estate Fix & Flip Loans allows real estate investors to leverage the banks money to acquire the property and receive the money needed to fix the property to be sold. Whether you are a beginner real estate investor or a seasoned pro, the John Thomas Team with Primary Residential Mortgage can help you with all your Hard Money Loans and Fix & Flip Loans by calling us at 302-703-0727 or APPLY ONLINE.
Sussex County Homebuyer Assistance Housing Trust Fund is a Delaware Down Payment Assistance Program for homebuyers purchasing in Sussex County, Delaware. The program provides between $10,000 and $30,000 of assistance for down payment and/or closing costs. Prospective homebuyers must be purchasing the home to be their primary residence. If you would like to apply for the Housing Trust Fund Homebuyer Assistance program give the John Thomas Team a call at 302-703-0727 or APPLY ONLINE
What is the Sussex County Homebuyer Assistance Program?
The Sussex County Housing Trust Fund (SCHTF) is providing Direct Home Buyer Assistance to people purchasing a primary residence in Sussex county. The down payment assistance program is being administered by Sussex County Community Development & Housing Department (CD&H). The DPA Funds are available until December 31, 2024 or until the funds run out. Sussex County intends to use the Homebuyer Assistance funding to provide affordable homeownership opportunities to qualifying homebuyers purchasing homes in Sussex County Delaware.