Delaware Home Prices Slide in Fourth Quarter of 2007

John Thomas March 13, 2008

Home Prices across most of the U.S. fell for a second straight quarter at the end of last year. According to one report, home prices in both Wilmington and Dover declined in the fourth quarter of 2007. Nationwide studies suggest the market hasn’t hit bottom yet.

This means it is a great time to be looking to buy a home. Even challenged credit borrowers still have an excellent opportunity to buy a home using FHA or VA loans. The Federal Government just raised the loan limits for New Castle County to $420,000 for 2008 for FHA loans and $417,000 for both Sussex and Kent. FHA and VA loans will also overlook some blemishes on your credit as long as you can verify your income and meet their guidelines for Debt-to-Income. Keep Reading...

Why A Delaware VA Loan?

John Thomas September 24, 2007 Tags: Delaware VA Loan, Delaware VA Loans, Delaware Veterans Loans

WHY A DELAWARE VA LOAN?

The more you know about our Delaware home loan program for Veterans, the more you will realize how little “red tape” there really is in getting a Delaware VA loan. These loans are often made without any down payment at all which means a veteran can get 100% financing. Aside from the veteran’s certificate of eligibility and the fact that the appraiser is assigned by VA, the application process is not much different than any other type of Delaware mortgage loan. And if the lender is approved for automatic processing and the Lender Appraisal Processing Program (LAPP), as more and more lenders are now, a buyer’s loan can be processed and closed by the lender without waiting for VA’s approval of the credit application or for VA to review the appraisal.Lenders are also able to use VA recognized automated underwriting systems, such as Loan Prospector and Desktop Underwriter, to facilitate the underwriting process. This makes the VA Loan a great program for Delaware First Time Home Buyers who meet the eligibility requirements. Keep Reading...

Delaware VA Loan – Are you eligible?

John Thomas September 23, 2007

If you are looking for a 100% financing in one loan, then nothing beats a Veterans administration loan, commonly referred to as a VA loan. The VA loan doesn’t have monthly PMI added on to the payment, which makes it usually the cheapest loan for overall payment.

The first step for applying for a Delaware VA loan is to determine if you are eligible, just go to Veterans Administration Wesite

Once you have determined you are eligible, in order to apply for a VA loan you need an eligibility certificate. If you need to get a certificate the Form you must fill out is Form 26-1880, this form can be found on the Veterans Administration website, go to this link http://www.va.gov/vaforms/ Keep Reading...