FHA Streamline Refinance Fees are being lowered to help more people be able to take advantage of the FHA streamline refinance program, this was announced by President Obama on March 6, 2012, but won’t be effective until an FHA Mortgage Letter is released. The fees being lowered are the FHA Mortgage Insurance Premiums. The FHA streamline refinance program allows borrowers that have been current on their mortgage in the last 12 months to refinance without getting an appraisal or verifying income. This is a huge benefit to borrowers that may be underwater on their FHA mortgage. Call 302-703-0727 to take advantage of the FHA Streamline Refinance or APPLY ONLINE.
Mortgage Loans
Do you need a buyer’s agent to represent you when buying a new construction home from a builder? John R. Thomas with Primary Residential Mortgage and Jeff Garvey with Keller Williams Realty will answer this question in the video.
Do You Need a Buyer’s Agent When Buying New Construction from a Builder? The answer is yes. The builder has a sales agent at the model but they represent the builder and not the home buyer. The sales agent is even required to be licensed as a real estate agent. The builder will pay your buyer’s agents’ commission. The Buyers Agent will negotiate with the builder to protect you and make sure you get the best deal possible.
FHA Announced Increase in MI Effective April 9, 2012
FHA announces it is increasing the upfront mortgage insurance premium and the yearly mortgage insurance premium effective April 9, 2012. The Guideline changes are discussed below in the video by John R. Thomas from Primary Residential Mortgage. Call 302-703-0727 if you would like more information or apply for an FHA Loan for the purchase or refinance of home or APPLY ONLINE.
New FHA Mortgage insurance Guidelines Effective April 9, 2012, by John R. Thomas from Primary Residential Mortgage
HUD/FHA is making the following guideline changes effective with FHA case numbers pulled on or after April 9, 2012:
FHA Wants to lower Allowable Seller Paid Closing Costs from 6% to 3%
John Thomas
February 25, 2012
Tags: Delaware FHA Loans, FHA Guidelines, FHA seller paid closing costs
HUD wants to lower allowable seller paid closing costs from 6% to 3% on ALL FHA loans. Only a 30-day window to comment so URGENT that you take action and make comments, see links below.
HUD/FHA Proposed to lower seller paid closing costs from 6% to 3%.
I highly encouraged everyone to take action IMMEDIATELY to submit your comments to the FHA regarding the reduction of the seller concessions to a maximum of 3% or $6,000 whichever is greater.
Please read the notice below to see HUD’s points regarding why they wish to reduce the maximum amount of seller concessions. Some good arguments are made by HUD to do so…However, in the grand scheme of things within the housing market today and the view that I see from the ground floor, now is NOT the time to move forward with this proposal.
Is Your Delaware Loan Officer Licensed?
John Thomas
February 20, 2012
Tags: Delaware Loan Officer, Delaware Loan Originator, john r thomas, John Thomar, National Mortgage Licensing System, NMLS
Is Your Delaware Loan Officer Licensed?
How can you check to see if your Delaware loan officer is licensed to do business as a loan originator and even if they are licensed to do business in Delaware? It is real easy to check, every loan originator is required to have a loan originator license number with the National Mortgage Licensing System (NMLS). You can look up anybody at the following website:
You should always check to see if a loan officer is licensed and they should always be able to provide you with their NMLS number. For example, my NMLS is 38783 so you can look me up by name, John Richard Thomas or NMLS number, 38783. Once you find me, it will tell you what company I work for, Primary Residential Mortgage, Inc., what states I am currently licensed to do business in and if my licensed is active or expired. See below for picture from NMLS consumer website:
Elsmere, Delaware – Repeals First Time Home Buyer Transfer Tax Credit – February 9, 2012
John Thomas
February 19, 2012
Tags: Delaware First Time Home Buyer, Delaware Transfer Tax, elsmere delaware
Town of Elsmere Delaware repeals the first time home buyer transfer tax credit was repealed on February 9, 2012, by the Mayor of the town of Elsmere and the town council and is effective immediately. The transfer tax in Delaware is 3% of the purchase price which is split equally between the state of Delaware and the county. If the property is in a township, municipality, or city then the county portion of the transfer tax is collected by that entity. New Castle County, Kent County, and Sussex County all waive the transfer tax for first time home buyers if the property is in the county alone. The Town of Elsmere had been giving the waiver as well until Thursday, February 9, 2012.
Best Delaware Mortgage Company – Primary Residential Mortgage, Inc.
Primary Residential Mortgage is the Best Delaware Mortgage Company and the only mortgage lender you should choose in the state of Delaware. Primary Residential Mortgage is a mortgage banker that is located at 248 E Chestnut Hill Rd, Newark, DE 19713. Call 302-703-0727 to schedule a free mortgage planning consultation for the purchase or refinance of a home in Delaware or you can APPLY ONLINE.
Introduction to Primary Residential Mortgage by John R. Thomas
What Does the Best Delaware Mortgage Company Do?
Primary Residential Mortgage Originates, Processes, Underwrites, and Funds all of their own loans. PRMI provides all of the loan options available today in the market which include the following:
Six Reasons Why Now is a Perfect Time to Buy a Home in Delaware
John Thomas
February 9, 2012
Tags: Delaware Home Buying, Delaware Real Estate
Six Reason Why Now is a Perfect Time to Buy a Home in Delaware by John R. Thomas from Primary Residential Mortgage and Jeff Garvey from Keller Williams Realty. Call 302-703-0727 to get qualified for a mortgage to purchase or refinance a home in Delaware. You can also APPLY ONLINE.
Six Reasons Why now is a Perfect Time to Buy a Home in Delaware
- Reason 1 -Homes have never been more affordable
- Reason 2 – Mortgage Rates are at all time historic lows
- Reason 3 – Sellers are motivated to sell their homes
- Reason 4 – Lenders are back in the game
- Reason 5 – Owning is Cheaper than Renting
- Reason 6 – Homeownership is still the American Dream
If you would like to apply for a mortgage to be pre-approved to purchase or refinance a home in Delaware call 302-703-0727 or you can APPLY ONLINE.
John R. Thomas – NMLS 38783
