Mortgage Loans

Mortgage Loans

Delaware Mortgage Company – Primary Residential Mortgage

John Thomas January 8, 2011 Tags: , , ,
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Delaware Mortgage Company – Primary Residential Mortgage, Inc.

Primary Residential Mortgage, Inc. (PRMI) is a Delaware Mortgage Company that is a Mortgage Lender.  We are a Delaware Mortgage Banker who processes, underwrites, and funds our own residential mortgage loans.  Our Delaware office is staffed by branch manager, John Thomas who is recognized as one of the top Delaware Loan Originators by the Scotsman Guide, Mortgage Executive Magazine and National Mortgage News.  PRMI is also a Delaware Mortgage Broker so we can broker loans to other banks when the need arises.  Call 302-703-0727 for a no-cost mortgage planning appointment for the purchase or refinance of a home in Delaware or APPLY ONLINE
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Delaware Veteran Loans

John Thomas January 4, 2011 Tags: , ,
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Delaware Veteran Loans

Delaware Veteran Loans are mortgage loans for Veterans that are made by mortgage lenders such as banks or mortgage brokers but are backed by the United States Government through the Veterans Administration.  The GI Bill that was signed into law in 1944 by President Roosevelt created the home loan program for Veterans to ensure they had access to housing.   Eligible veterans are able to use a VA loan to purchase or refinance a property.  The Delaware VA Loan is the best loan option for veterans hands down.  Get 100% financing with a VA loan which means NO Down Payment!  Call 302-703-0727 to get started on Delaware Veteran Loan or APPLY ONLINE. Keep Reading...

Delaware Mortgage Rates for Week of November 8, 2010

John Thomas November 8, 2010 Tags:

This week brings us the release of only two relevant monthly economic reports but neither of them is considered to be highly important. There are two important Treasury auctions this week that may influence mortgage rates more than the minor economic data that is scheduled. It is also a holiday-shortened week with the bond market closed Thursday in observance of the Veterans Day holiday. The stock markets will be open Thursday, but bonds will not be traded meaning that many lenders will be closed.

Neither of this week’s monthly economic reports is expected to lead to noticeable changes in mortgage rates. This means that the stock markets will likely be a significant influence on bond trading and mortgage rates in addition to the two particular Treasury auctions. If the stock markets extend their recent rally, we could see funds shift from bonds into stocks that potentially offer better returns. The Dow reached its highest level since September 2008 last week, therefore, all eyes will be watching to see if they can move much higher. If stocks fall from current levels early in the week, concerns about them being able to move much higher in the near future could lead to significant selling. That would make bonds more attractive to investors and lead to lower mortgage rates. Keep Reading...

Delaware VA Loans – Free Online Workshop – November 9, 2010

John Thomas November 6, 2010 Tags: ,

Free Online Workshop for Delaware Veterans who want to know the 10 Insider Tips on Delaware VA home loans. Online Workshop is scheduled for Tuesday, November 9, 2010, at 8:30 PM. The seminar will explain in detail, the top 10 questions veterans ask about VA Home Loans. The seminar is held every week on Tuesday evening at 8:30 PM so if you can’t make it this Tuesday you can register for the next one.

Attend the Free Online Workshop from the comfort of your own home by registering online. You can get all your questions answered live during the Online Workshop. Keep Reading...

Maryland FHA Loan Limits for 2011

John Thomas November 2, 2010 Tags: ,

The Maryland 2011 FHA loan limits by county are unchanged from 2010.  With only a 3.5% down payment, FHA mortgages have been a great mortgage option for First Time Home Buyers.

For more information about a Maryland FHA Mortgage, Loan Limits, or FHA guidelines, please feel free to contact me directly.

John R. Thomas 410-412-3319 MD Office  302-703-0727 DE Office  610-906-3109 PA Office

County Name Single Family Duplex Tri-plex Four-plex
ALLEGANY $271,050 $347,000 $419,400 $521,250
CUMBERLAND, MD-WV (MSA)
ANNE ARUNDEL $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
BALTIMORE $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
BALTIMORE CITY $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
CALVERT $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
CAROLINE $271,050 $347,000 $419,400 $521,250
NON-METRO
CARROLL $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
CECIL $420,000 $537,650 $649,900 $807,700
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
CHARLES $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
DORCHESTER $271,050 $347,000 $419,400 $521,250
CAMBRIDGE, MD (MICRO)
FREDERICK $729,750 $934,200 $1,129,250 $1,403,400
BETHESDA-GAITHERSBURG-FREDERICK, MD METR
GARRETT $437,500 $560,050 $677,000 $841,350
NON-METRO
HARFORD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
HOWARD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
KENT $343,750 $440,050 $531,900 $661,050
NON-METRO
MONTGOMERY $729,750 $934,200 $1,129,250 $1,403,400
BETHESDA-GAITHERSBURG-FREDERICK, MD METR
PRINCE GEORGE’S $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
QUEEN ANNE’S $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
SOMERSET $328,750 $420,850 $508,700 $632,200
SALISBURY, MD (MSA)
ST. MARY’S $400,000 $512,050 $618,950 $769,250
LEXINGTON PARK, MD (MICRO)
TALBOT $443,750 $568,050 $686,650 $853,350
EASTON, MD (MICRO)
WASHINGTON $377,500 $483,250 $584,150 $725,950
HAGERSTOWN-MARTINSBURG, MD-WV (MSA)
WICOMICO $328,750 $420,850 $508,700 $632,200
SALISBURY, MD (MSA)
WORCESTER $437,500 $560,050 $677,000 $841,350

APPLY ONLINE today to be pre-approved for a mortgage to buy or refinance a home in Delaware, Maryland, or Pennyslvania.

John R. Thomas – NMLS 38783 Keep Reading...

Delaware FHA Streamline Refinance Guidelines for 2010

John Thomas November 2, 2010 Tags: ,

FHA Guidelines for Delaware Streamline Refinances have some significant changes from mortgagee letter 2009-32

Revisions for ALL Streamline Refinance Transactions:

Seasoning:
At the time of loan application, the borrower must have made at least 6 payments on the FHA-insured mortgage being refinanced. In order to complete the refinance, you need to obtain an FHA Case # assignment but FHA will not assign the case # until after the appropriate amount of time has passed since you obtained the FHA loan.

Payment History:
At the time of the loan application, the borrower must exhibit an acceptable payment history as described below. Keep Reading...

Delaware Veteran Loans – Free Online Workshop – November 2, 2010

John Thomas October 29, 2010 Tags: , ,

Free Online Workshop for Delaware Veterans who want to know the 10 Insider Tips on Delaware VA home loans. Online Workshop is scheduled for Tuesday, November 2, 2010, at 8:30 PM.  The seminar will explain in detail, the top 10 questions veterans ask about VA Home Loans.

Attend the Free Online Workshop from the comfort of your own home by registering online. You can get all your questions answered live during the Online Workshop.

REGISTER NOW

APPLY FOR VA lOAN NOW

For a Complete list of seminars visit Free Delaware Real Estate Seminars. Keep Reading...

Delaware First Time Home Buyer Seminar – November 20, 2010

John Thomas October 28, 2010 Tags: ,

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, November 20, 2010, at 10:00 AM and again at 1:00 PM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware FHA 203k Rehab loans.

Each participant will receive a Free Audio CD on Homebuying 101, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing. Keep Reading...