Mortgage Loans

Mortgage Loans

Investor Cash Flow Loan Program – DSCR Loans

John Thomas May 29, 2019 Tags: ,
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Grow Your Real Estate Investments! Take an Investor Cash Flow Loan

Are you a Real Estate investor who is hoping to maximize your earning potential but don’t want the hassle of having to document your income in order to get an Investor Mortgage Loan? Then we’re excited to present you with the DSCR Investor Cash Flow Loan Program for the purchase or refinance of an investment property without having to document your income to qualify. We will qualify you off the cash flow of the property you are buying or refinancing. Call 302-703-0727 to get started today or you can APPLY ONLINE. Keep Reading...

PRMI Fresh Start Loan Program

John Thomas May 25, 2019 Tags: , , , , , , , ,
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PRMI Fresh Start Loan Program is for people who may have had a Foreclosure…short sale…bankruptcy…mortgage lates and cannot qualify for a traditional mortgage loan program. If you are able to prove your income to qualify for a mortgage but have credit challenges that are preventing you from qualifying, then a fresh start program can help you purchase a new home or refinance your current home. Get started today by calling 302-703-0727 or APPLY ONLINE

Did a couple of bad money choices put you in much debt and destroyed your credit ratings that it’s hard to obtain traditional funding?

Let PRMI give you a fresh start! Keep Reading...

Good Neighbor Next Door Program

John Thomas May 17, 2019 Tags: , , ,
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If you wish to purchase a home and you’re either a law enforcement officer, firefighter, teacher or emergency medical technician, the Good Neighbor Next Door Program may have the best deal available for you!

It’s called the Good Neighbor Next Door Program—a reward by the US Department of Housing and Urban Development (HUD) for America’s “good neighbors.”

The Benefits of Good Neighbor Next Door Program in a Nutshell

  • Buy HUD REO homes for 50% off list price with today’s current mortgage rates.
  • Pay only $100 down payment when you buy any eligible HUD home at half-off its price.

How Does the GNND Program Work?

Eligible Single Family homes located in revitalization areas are listed exclusively for sale through the Good Neighbor Next Door program (GNND). Properties are available for purchase through the program for Seven days. Keep Reading...

VA One-Time Close Construction Loan: Build Your Home With One Loan

John Thomas May 3, 2019 Tags: , , ,
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Last updated: November 2, 2025

VA One-Time Close Construction Loan (2025 Guide)

If you’ve earned VA loan benefits and want to build a custom home instead of buying an existing one, the VA One-Time Close Construction Loan makes it possible. Also known as a VA construction-to-permanent or single-close construction loan, this program lets eligible veterans, active-duty service members, and surviving spouses finance the land, construction, and permanent mortgage in one loan—with no down payment required.

I’m John Thomas (NMLS 38783), a mortgage loan officer specializing in VA and construction financing. My team helps veterans nationwide navigate the build-your-own-home process using this powerful VA benefit.  Call me at 302-703-0727 to talk to a VA Lending Specialist about a VA Construction Loan or get started online at APPLY ONLINE Keep Reading...

Self Employed Bank Statement Loan Program

John Thomas April 27, 2019 Tags: , , ,
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Self-Employed? Here’s How You Can Qualify for a Bank Statement Loan

Are you self-employed? Consider a Self Employed Bank Statement Loan Program. You belong to almost nine million self-employed people in the United States. You enjoy the advantages of self-employment that aren’t afforded to full-time workers—a flexible schedule, control of your life and the ability to select who you work with and what you do. You can apply now by calling the John Thomas Team at 302-703-0727 or you can APPLY ONLINE

Over 6 million small business owners in the U.S. need mortgage options that reflect their actual income.

Traditional loans rely on tax returns, often not showing the full financial picture for self-employed borrowers. PRMI’s Bank Statement Loan Program looks at real cash flow, making it easier for business owners to qualify.

Program Highlights:

? No Tax Returns Needed: We use 12-24 months of bank statements to assess income.
? Higher Loan Amounts & LTVs: Loans up to $5 million with up to 90% LTV.
? Quick Pre-Qualifications: Get answers in up to 24 hours from our in-house team.
? Flexible Income Sources: Combine W-2 earnings with bank statement deposits.

Many self-employed borrowers are turned away by traditional lenders, but we offer a solution that works. PRMI’s Bank Statement Loan Program helps borrowers close more loans with flexible income verification and common-sense underwriting. Keep Reading...

FHA One-Time Close Construction Loan

John Thomas April 23, 2019 Tags: , , ,
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Is a FHA One Time Close Construction Loan right for you?

Two isn’t always better than one. Let me explain.

If you’re building your house from the ground up, you’ll most likely take a construction loan followed by a permanent loan. This scenario will require you to have 2 loans, which means you’ll have 2 start dates and 2 closing dates—which means you’ll pay for 2 separate closing costs!

An FHA one-time close construction loan, however, will allow you to have your home built and financed just under one loan. It’s simpler and more cost-efficient and you end up with a FHA Loan with a 30 year fixed rate when all is said and done. Got Questions or want to get started today, call John Thomas Team with Primary Residential Mortgage at 302-703-0727 or APPLY ONLINE. Keep Reading...

Mortgage Rates Weekly Update [April 14 2019]

John Thomas April 14, 2019 Tags: ,
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Mortgage Rates Weekly Update for April 14, 2019

Mortgage Rates Update for April 14, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates moved higher last week as the stock market surged. If you look at the mortgage bond chart below, you can see mortgage bonds sold off on Friday and dropped below the 25 day moving average which will now at as a ceiling of resistance. The next floor of support is the 50 day moving average. We are recommending LOCKING your mortgage rate if closing in the next 30 days as mortgage bonds have still not found a floor of support. Keep Reading...