Delaware First Time Home Buyer Tips – Stop Paying Your Landlord’s Mortgage

John Thomas June 22, 2010 Tags: Delaware First Time Home Buyer

Delaware First Time Home Buyer Tips Stop Paying Your Landlord’s Mortgage!

It’s staggering when you think about the cost of living, especially if you’re a renter and not a Delaware homeowner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company will effectively have reaped $36,000 of your hard earned cash! You’re paying their mortgage when you could be building equity in your own property.

What if I don’t have the money to buy a home right now? Keep Reading...

Delaware First Time Home Buyer Seminar – July 10, 2010

John Thomas June 20, 2010

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, July 10, 2010, at 10:00 AM. 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...

Is there a Delaware Transfer Tax on Refinance?

Is There a Delaware Transfer Tax on a Refinance

There is no Delaware Transfer Tax on a refinance, this is a common question but there can never be a transfer tax on a refinance because a transfer is when the property changes hands from one owner to another. The tax on a refinance is called a mortgage tax. Delaware doesn’t have a mortgage tax either. The only government fee you will pay on refinancing a home in Delaware is the recording fee to the county for recording the new mortgage. Delaware technically doesn’t have a transfer tax it is actually a transfer fee. This is a big distinction because a fee is not tax deductible as a tax would be. The Delaware transfer fee on a purchase is 3% total. Customarily split 1.5% to the seller and 1.5% to the buyer. Keep Reading...

Did First Time Homebuyer Tax Credit get Extended?

John Thomas June 17, 2010

The Senate had put a provision in a bill that was to extend jobless benefits and some other provisions to help the economy but the bill was voted down on a test votes so it went back the to the finance committee to be re-worked. In the re-working, Senator Reid added a provision to extend the deadline for closing on your loan from June 30th to September 30th in order to still receive the First Time Home Buyer Tax Credit. The bill hasn’t been voted on by the Senate, just the amendment to the bill. The bill must pass the Senate and then the House. Keep Reading...

FHA Loan Questions – What is FHA Mortgage Insurance and what is the refund?

John Thomas June 3, 2010

Many people are confused on how much and even if they can get a refund of the upfront mortgage insurance premium they paid to FHA when they obtained a FHA insured mortgage loan. The confusion comes because the date you obtained the mortgage determines what you are eligible for in terms of a refund. There are two important dates: January 1, 2001, and December 8, 2004. Watch this video for a complete explanation of the FHA upfront mortgage insurance and the monthly mortgage insurance:

Fact Sheet on FHA Refund of the upfront mortgage insurance premium is here Keep Reading...

Delaware First Time Home Buyer Seminar – June 5, 2010

John Thomas June 1, 2010

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 5, 2010, at 10:00 AM. 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 Existing Home Sales Jumps in April 2010

John Thomas June 1, 2010

Delaware Existing home sales jumped in April 2010

Homes Sales jumped in April 2010 more than expected lead by the Tax Credit that expired on April 20, 2010. The National Association of Realtors reported that the sales of previously owned homes rose 7.6 percent to adjusted annual rate of 5.77 million. The expected amount was 5.63 million units. The increased demand caused the average home price to rise to $173,100, which is up 4 percent from a year ago. The northeast experienced a 21% increase. Here is the article with more details http://www.cnbc.com/id/37314201 Keep Reading...

Delaware First Time Home Buyer Seminar – June 19, 2010

John Thomas May 26, 2010

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 19, 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.

The Seminar is being held at The Seminar is being held at The Christiana Hilton Hotel at 100 Continental Drive, Newark, DE 19713 from 10:00 AM till 12:00 PM and a second session from 1:00 PM till 3:00 PM. To register for the seminar, please call 302-588-3665 and ask for John Thomas. You can also e-mail me at DelawareMortgages@yahoo.com

For a Complete list of seminars visit www.DelawareMortgageLoans.net/seminars

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727. Keep Reading...