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

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.

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: Delaware First Time Home Buyer, Delaware First Time Home Buyer Seminar

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...

Delaware Mortgage Rates for Week of October 18, 2010

John Thomas October 18, 2010 Tags: Delaware Mortgage Rates

This week brings us the release of four economic reports for the markets to digest, but none of them are considered to be highly important to mortgage rates. However, this by no means leads me to believe we will have an uneventful week. This will be an extremely busy week for corporate earnings, which usually translates into stock volatility. The lack of important economic data on this week’s calendar makes it more likely that any significant swings in stock prices will influence bond trading and Delaware mortgage rates. Keep Reading...

Bank of America Exits Wholesale Lending

John Thomas October 5, 2010 Tags: Bank of America, mortgage loans

Bank of America has announced that it will exit the wholesale lending business. Wholesale lending is the business of working with Mortgage Brokers in order to get loans originated. This is the third time Bank of America has exited the wholesale lending business. It had most recently got back into the business when it bought Countrywide and had to absorb its huge Mortgage Wholesale business.

Bank of America had an 8% market share for wholesale lending. B of A said it was going to focus on its retail lending and its correspondent lending. Retail lending is when you call Bank of America directly to get a loan and correspondent lending is when it buys loans from other mortgage banks after they originate and fund the loans. Bank of America retail is notorious for delayed closings and frustrated borrowers so maybe this can help them get their act together. Keep Reading...

Delaware Mortgage Rates for Week of October 3, 2010

John Thomas October 3, 2010 Tags: Delaware Mortgage Rates

This week brings us the release of only two monthly economic reports that are likely to influence Delaware mortgage rates. However, one of those two releases is extremely important to the financial and mortgage markets. We start the week with one of them and end it with the more important one. In between, we can expect the stock markets to drive bonds prices and mortgage rates. If the major stock indexes extend September’s gains, the bond market will likely move lower this week. As bond prices drop, their yields move higher. And since mortgage rates tend to follow bond yields, we would prefer to see stock weakness and bond prices to move higher. Keep Reading...

Delaware FHA Loans – MIP Changes October 4, 2010

John Thomas September 29, 2010 Tags: Delaware FHA Loans, FHA Mortgage Insurance, MIP

It is official: FHA was given authority on September 3, 2010, to change the amount charged to borrowers for both the Up Front Mortgage Insurance Premium and the Annual Mortgage Insurance premiums…and change them they did.

This will impact how you write up a Delaware FHA purchase agreement, as well as any monthly payments you might estimate

The new premium amounts will be effective on all FHA case numbers assigned on or after October 4, 2010, so if you already have a Delaware FHA transaction in process, you won’t be impacted as long as your loan officer has already pulled an FHA case number, but new FHA clients who come into process on or after October 4th will be subject to the new guidelines. Keep Reading...

Delaware First Time Home Buyer Seminar – October 23, 2010

John Thomas September 27, 2010 Tags: Delaware First Time Home Buyer, Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, October 23, 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.

Delaware Mortgage Rates for Week of September 26, 2010

John Thomas September 26, 2010 Tags: Delaware Mortgage Rates

This week brings us the release of five relevant economic reports for the bond market to digest in addition to two relevant Treasury auctions. There is nothing of importance scheduled for release tomorrow, so look for the stock markets to influence bond trading and possibly mortgage rates. Generally speaking, stock market strength makes bonds less appealing to investors and leads to higher mortgage pricing. But I would not be surprised to see a relatively calm day tomorrow as traders prepare for this week’s data. Keep Reading...