As a long term investment, homeownership is still one of the best investments for individual households. “Why?” you may ask. After all, the headlines say the housing market is down and out, with defaults rising at an alarming rate, and mortgage markets so frozen that buyers can’t get a home loan at any price.

What buyers need to realize is that housing markets, like all markets, inevitably have their ups and downs. Homeownership has a proven track record that is virtually unmatched by any other purchase in terms of its real benefits.

Now despite what the media proclaims buyers can still get loans. The percentage of overall buyers that were affected in the Delaware Real Estate Market was about 14%. These buyers were borrowers that need to go Stated Income with bad credit scores. If you are looking to qualify for a home loan with challenged credit, there are still many programs available for you. The only hitch is you must be able to verify your income. For well-qualified buyers, rates are running at near historical lows.

Even if you don’t qualify for a home loan because of your credit then you can enroll in my Get Mortgage Ready Program and be able to qualify in as little as 30 Days. Typically it takes 90 Days to 6 months to improve your credit, but some borrowers can take anywhere from 12 months to 24 months depending on their unique situation. If you fall into the latter category then you might want to look at a lease purchase program so you are not losing out for 1-2 years while you are getting issues resolved with your credit report.

For more information on any of these programs or for properties available in Delaware for lease purchase, please feel free to call me at 302-368-7132 Ext.12

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

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office