(302) 703-0727

(302) 703-0727

Can you get a home after bankruptcy in Delaware?

John Thomas January 9, 2007 Tags: , ,
featured image

Can You Get a Home After Bankruptcy in Delaware?

Yes, you can get into a home again after a bankruptcy in Delaware and every other state, but be prepared for higher interest rates.  A bankruptcy will stay on your credit report for seven to ten years, but it stops affecting your credit significantly after two years if you report has been updated correctly.  If you want to apply for a mortgage loan after a bankruptcy filing call 302-703-0727 or APPLY ONLINE

Be sure to check your credit report annually, and make sure that all accounts that were part of your bankruptcy were discharged.  Lawyers get paid to file the bankruptcy and have no interest in making sure that your credit report is accurate after the bankruptcy. Keep Reading...

Financial News – Week of January 8th

John Thomas January 8, 2007 Tags:

Financial News – Week of January 8, 2007

Employers boosted payrolls by a hefty 167,000 workers in December, 50,000 more jobs than analysts had forecast. With the hiring surge, the unemployment rate remained at a historically low 4.5%, the Labor Department said January 5, 2007.

The U.S. manufacturing sector rebounded in December, according to the Institute for Supply Management (ISM) index, which rose from 49.5 in November to 51.4 in December. An ISM reading below 50 indicates contraction, while above 50 signals expansion.

Orders to U.S. factories for manufactured goods edged up 0.9% in November, less than the 1.4% analysts had expected, the Commerce Department reported January 4. Declining demand for autos, machinery and steel was blamed for the tepid performance. Keep Reading...

Interest Rate vs APR

John Thomas January 7, 2007 Tags: , ,
featured image

Interest Rate vs APR

You are most likely to encounter low mortgage interest rates and low annual percentage rates (A.P.R.) on television commercials or newspaper ads as lenders vie for the attention of potential borrowers looking for the lowest mortgage rates.  This is just a tactic for them to get you to call so they can explain why you don’t qualify for the advertised mortgage interest rate and proceed to sell you on a higher interest rate with higher fees.  So remember the old adage “Buyer Beware”.

A.P.R. was created to provide a way for borrowers to account for costs associated with the mortgage loan. This sounds good because it may not be very easy to choose between a mortgage loan with a lower mortgage interest rate and higher fees or a mortgage loan at a higher mortgage interest rate with low fees. Although APR is supposed to be a shopping tool, its an inaccurate tool at best. While it’s designed to make it easier to compare mortgage loans, it’s sometimes confusing because the A.P.R. includes some, but not all, of the various fees and mortgage insurance premiums that accompany a mortgage loan. And since the federal law that requires mortgage lenders to disclose the A.P.R. does not clearly define what goes into the calculation at the time of this article, A.P.R.s can vary from mortgage lender to mortgage lender and from mortgage loan to mortgage loan. Keep Reading...

Delaware Real Estate Investors Seminar – Jan. 27th, 2007

John Thomas January 6, 2007 Tags:

Delaware Real Estate Investors Seminar January 27, 2007

There will be a free seminar covering the financing options available for Real Estate Investors.  The seminar will be January 27th, 2007 at 42 Reads Way, New Castle, DE 19720.  The seminar will be from 10:00 AM till 12:00 PM. Please register by calling 302-703-0727.  Various strategies will be presented for investing in real estate in the tri-state area.

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

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

Delaware Mortgage Rates Dip Down to end the week

John Thomas January 5, 2007 Tags:
featured image

Delaware Mortgage Rates dipped

Delaware Mortgage Rates dipped down today January 5, 2007 because of the drop in the stock market today.  The drop in the stock market saw money moving out of stocks and into safe assets like mortgage bonds.   The average rate on a 30 year mortgage dipped 0.1% down from the mid week high to 6.29%. Beware websites or TV ads quoting low mortgage rates.  The low mortgage rates quoted are based off factors that most people don’t qualify for and may include discount points that are buying down the mortgage interest rate.  Be sure to contact a Delaware mortgage professional that can explain how the mortgage rates change and how your choice of loan programs can affect your mortgage interest rate.  Call 302-703-0727 to talk to a Delaware loan officer. Keep Reading...

Mortgage Insurance Tax Deductible

John Thomas January 5, 2007 Tags: , , ,
featured image

Mortgage Insurance Tax Deductible

Mortgage Insurance tax deductible in 2007 for some Delaware homeowners. This means for some home owners looking for a 100% financing, it may be cheaper to get  one mortgage with mortgage insurance rather than a piggy back loan.  A piggy loan is a 2nd mortgage loan that is used in conjunction with a first mortgage loan that is only 80% of the purchase price to avoid paying mortgage insurance.  If you have questions about mortgage insurance feel free to call 302-703-0727 to speak to a Delaware Loan Officer. Keep Reading...

Delaware Mortgage Rate Update 2007

John Thomas January 1, 2007 Tags:
featured image

Delaware Mortgage Rate Rally – Happy New Year!!

Delaware Mortgage Rate are looking to start to move upward as the stock market will look to open with strong momentum.  Mortgage rates typically move with the stock market.  If the stock market rallys then mortgage interest rates tend to rise.  If the stock market drops then mortgage rates tend to drop.  That is a good general way to understand how mortgage interest rates change.  For the Lowest Delaware Mortgage Rate call 302-703-0727 to speak with a Delaware Mortgage Loan Officer with Primary Residential Mortgage located in Newark Delaware. Keep Reading...

Mortgage Interest Rates December 2006

John Thomas December 26, 2006 Tags:
featured image

Mortgage Interest Rates December 2006

Mortgage Interest Rates have been moving higher as we moved into the end of the year for 2006.  We recommend LOCKING Your Delaware Mortgage Interest Rates to start the week.  Call 302-703-0727 to discuss mortgage interest rates with a Mortgage Loan Officer in Newark, Delaware.

The Producer Price Index — which measures inflation pressures at the wholesale level — surged 2% in November, the largest advance in more than three decades, the Labor Department said December 19. The 2% jump was four times bigger than the 0.5% increase economists had forecast. Core wholesale inflation, which excludes energy and food, rose 1.3%, the biggest gain since July 1980. Keep Reading...