John Thomas Ranked #1 Delaware FHA Lender in 2018

John Thomas July 13, 2018 Tags: Delaware FHA Lender, Delaware FHA Loans

John Thomas has ranked #1 Delaware FHA Lender on Ask a Lender’s annual list

Ask a Lender put John Thomas at #1 Delaware FHA Lender and at #1 Newark, Delaware FHA Lender for 2018. Visit our Delaware FHA Loan page for more information on how we can get you into your dream home today or Call 302-703-0727 to get started today. GET STARTED ONLINE. Ask a Lender surveyed all of the Delaware Loan Officers that originated FHA loans through data provided to the Scotsman Guide and determined that John Thomas was the Number 1 Delaware FHA Loan originator because of his affordable FHA mortgage loans and award-winning client service. Keep Reading...

FHA Loan Limits for 2018

John Thomas December 8, 2017 Tags: FHA Loan Limits

FHA Loan Limits for 2018

The Federal Housing Administration announced FHA Loan Limits for 2018 effective with FHA case numbers assigned on or after January 1, 2018. The Minimum maximum FHA loan limit is increasing from $275,665 to $294,515 which is a 6.8% increase in the floor loan limit for FHA loans. Do you need to get approved for a FHA Loan? Call 302-703-0727 or APPLY ONLINE

Consistent with the Federal Housing Finance Agency (FHFA) increases to their conventional loan limits for 2018, FHA increased the ceiling in high cost areas of the county to $679,650 from $636,150. Keep Reading...

FHA Mortgage Insurance Premium Reduced January 27, 2017

John Thomas January 9, 2017 Tags: FHA Mortgage Insurance, FHA Mortgage Insurance Premium

FHA Mortgage Insurance Premium Reduced January 27, 2017

FHA Mortgage Insurance Premium reduced January 27, 2017 by 0.25% on new FHA Loans. Monday January 9, 2017 HUD secretary Julian Castro announced FHA will reduce the annual mortgage insurance premium most borrower’s pay by 0.25% for new FHA loans originated on/or after January 27, 2017. Call 302-703-0727 to apply for a FHA Loan or APPLY ONLINE

2016 marked the fourth consecutive year that the FHA Mutual Mortgage insurance fund has grown and now has sufficient reserves with the capital ratio at 2.32 percent of all insurance in force which is above the 2% requirement. The drop in mortgage insurance premium comes at a time when consumers are facing higher credit costs as mortgage rates are increasing. Keep Reading...

FHA Loan Limits for 2016

John Thomas December 19, 2015 Tags: FHA Loan Limits 2016

FHA Loan Limits 2016

Federal Housing Administration released FHA Loan Limits for 2016 on December 9, 2015 with the release of Mortgagee Letter 2015-30. The minimum maximum FHA Loan limit remained at $271,050 and the maximum FHA Loan limit in high cost area remained at $625,500. The maximum loan limit for a FHA Loan is set by the median house price in the county in which the property is located. The FHA loan limits for 2016 are for FHA Loans with case numbers assigned on or after January 1, 2016.

FHA increased loan limits in 188 counties across the country and didn’t decrease loan limits in any counties. The FHA Loan limits remained the same in Delaware, Maryland, and Pennsylvania. Search the FHA Loan limit in any county in the United States at HUD’s website at FHA Loan Limit Search Keep Reading...

FHA Mortgage Insurance Premium Dropping January 26, 2015

John Thomas January 10, 2015 Tags: Delaware FHA Loans, FHA Loans, FHA MIP, FHA Mortgage Insurance

FHA Mortgage Insurance Premium Dropping January 26, 2015

FHA Mortgage Insurance Premium being lowered on all new FHA Case Numbers assigned on or after January 26, 2015, as announced by HUD Secretary Julian Castro on January 8, 2015, per an executive order by President Obama. FHA will reduce the annual mortgage insurance that borrowers will pay by 0.5%. FHA made this official with the publication of the Mortgagee Letter 2015-01. Call 302-703-0727 to Apply for an FHA Loan or APPLY ONLINE

Below is a table that shows the changes to the annual mortgage insurance premiums for FHA Loans: Keep Reading...

FHA Property Flipping Waiver Expires December 31, 2014

John Thomas December 11, 2014 Tags: Delaware FHA Loans, FHA Property Flipping waiver

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 execute 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 an 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 FHA Loan Limits for 2015

John Thomas December 6, 2014 Tags: Delaware FHA Loan Limits 2015, Delaware FHA Loans

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 Keep Reading...

Delaware FHA Loan Limits for 2014

John Thomas December 10, 2013 Tags: Delaware FHA Loan Limits, Delaware FHA Loans, FHA Loan Limits 2014

Delaware FHA Loan Limits for 2014 will be going Lower for FHA case numbers assigned on or after January 1, 2014. FHA mortgage maximum loan amounts vary by states and by regions based on the median home price in that region. Currently, FHA loan limits range from $271,050 up to $729,750.

Effect January 1, 2014, FHA is reducing the maximum loan amount from $729,750 to $625,500 and reducing maximum loan limits in most regions. The lowest maximum loan limit will remain at $271,050. The FHA loan limits in Delaware are being reduced in all three counties of Delaware as follows: Keep Reading...