(302) 703-0727

(302) 703-0727

Delaware FHA Loan Limits 2020

John Thomas May 10, 2020 Tags: , ,
featured image

Delaware FHA Loan Limits 2020 were increased effective January 1, 2020. All three counties of Delaware had the FHA loan limit increased in 2020. The Federal Housing Agency (FHA) raised the loan limits from the increased “floor” of $331,760 to the highest areas at $765,600. If you need to apply for a FHA Loan to purchase or refinance call John Thomas at 302-703-0727 or APPLY ONLINE.

On December 3, 2019, FHA issued Mortgagee Letter 19-19 effective for FHA case numbers assigned on or after January 1, 2020. The National mortgage low cost loan limit is set at 65% of the conforming loan limit which is $510,400. The National Low Cost Area FHA Loan limit is set as follows: Keep Reading...

Delaware Mortgage Loan Officer John Thomas

John Thomas May 9, 2020 Tags: , ,
featured image

Delaware Mortgage Loan Officer John Thomas works for Primary Residential Mortgage, Inc. in Newark, Delaware as an Originating Branch Manager. Primary Residential Mortgage, Inc. is a Delaware mortgage lender that is a direct lender and mortgage servicer. We can find you the best mortgage interest rate because we have the best of both worlds, being mortgage bank and a mortgage broker. John Thomas is licensed to lend in Delaware, Maryland, Virginia, Pennsylvania, and New Jersey. Call 302-703-0727 to apply for a mortgage loan or APPLY ONLINE. Keep Reading...

Delaware USDA Loans Income Limits 2020

John Thomas May 7, 2020 Tags: ,
featured image

Delaware USDA Loans Income Limits 2020 announced May 4, 2020 by Rural Development. The household income limits in Delaware have increased in all three counties. Anyone looking to purchase a home with a Delaware USDA Rural Housing Loan now has more leeway to qualify as income limits have gone up. If you want to get pre-approved for a USDA Loan to purchase a home please call 302-703-0727 or APPLY ONLINE.

What are the USDA Rural Housing Loan Income Limits for 2020?

The household income limit is based on the number of people in the household that will occupy the property. The income limits are set based on 1-4 people household, 5-8 people households and then excess of 8 people households. Below is the chart showing Delaware USDA Loans Income Limits for 2020: Keep Reading...

Delaware VA Loan Limits 2020

John Thomas April 25, 2020 Tags: , ,
featured image

Delaware VA Loan Limits for 2020 depend on whether a qualified Delaware Veteran has full entitlement or not. Veterans with full entitlement have no loan limits in Delaware or any other state for a Delaware VA Loan. The maximum VA loan limit was eliminated with the Blue Water Navy Vietnam Veterans Act of 2019. If a Veteran has reduced entitlement then the VA Loan Limit will be the same as the Federal Housing Finance Agency (FHFA) conforming loan limit for the county. If you are a Delaware Veteran and want to find out the maximum VA loan you qualify for, give us a call at 302-703-0727 or get started online at APPLY ONLINE Keep Reading...

DSHA Temporary Guideline Changes May 2020

John Thomas April 24, 2020 Tags: ,
featured image

DSHA announced temporary guideline changes to their home buyer assistance programs for home buyers in Delaware. Effective with new reservations for their Preferred Plus Down Payment Assistance Program and their Base Rate Program their will be stricter guidelines for qualifying for the program if you are getting a FHA Loan, VA Loans or a USDA Loan. If you have questions please call the John Thomas Team at 302-703-0727 or you can APPLY ONLINE

Anybody with a qualifying credit score below 700 will have a maximum Debt to Income Ratio (DTI) of 45% in order to be eligible for the program. The minimum credit score to apply for the Delaware State Housing Authority Program is still 620 but there are now restrictions to the maximum DTI if credit score is below 620 starting in May 2020. Keep Reading...

Delaware Conventional Loan Limits 2020

John Thomas November 29, 2019 Tags: , , ,
featured image

Delaware Conventional Loan Limits for 2020 are increasing!! The Conventional conforming loan limit is being raised for 2020 as announced by the Federal Housing Finance Agency (FHFA) on November 26, 2019. The new loan limits will go into effect for loans delivered January 1, 2020 and after. Loan Limits for one-unit property mortgages sold to Fannie Mae and Freddie Mac will increase nationwide from $483,350 in 2019 to $510,400 in 2020. If you are looking to get more information or would like to apply to get pre-approved for a mortgage loan give John Thomas a call at 302-703-0727 or APPLY ONLINE Keep Reading...

Dover Delaware First Start Down Payment Assistance Program

John Thomas October 13, 2019 Tags: , , ,
featured image

Dover Delaware First Start Down Payment Assistance Program is a down payment and closing cost assistance program provided by the City of Dover to encourage home ownership within the city limits of Dover, Delaware. The program is designed to assist low income families and moderate income families purchase an eligible property in the City of Dover. Call 302-703-0727 to get more information or to Apply. You can also APPLY ONLINE.

How Do You Qualify for the Dover First Start Down Payment Program?

In order to be eligible to qualify for the City of Dover Delaware Down Payment Assistance Program you must NOT have owned a principal residence in the last 3 years. There is one exception for single parents who have not owned a home for at least one year except as part of a joint ownership. You must also meet the following qualifications: Keep Reading...

Nurses Home Loan Program

John Thomas September 4, 2019 Tags: , , , , , , , , ,
featured image

The Ultimate Loan Program That Benefits Nurses, Physical Therapists, and People in the Medical Industry!

Are you a nurse, physical therapist, veterinarian, dentist or someone working in healthcare? Here’s the home loan program made especially for you! The Nurses Home Loan Program. For all the things that you do—it’s time someone helps you too! Call 302-703-0727 to get started today or you can APPLY ONLINE.

The Nurses Home Loan Program was designed to help nurses, as well as other healthcare providers, benefit from a housing loan that removes the roadblocks often encountered by people from the healthcare sector. Keep Reading...