There will be a Maryland First Time Home Buyer Seminar on Saturday, October 18, 2014, at 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Maryland. The seminar will cover Maryland FHA loans, Maryland VA loans, Maryland USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Maryland FHA 203k Rehab loans. Each participant will receive a Credit Scoring Handbook, Home Buying Handbook, and an opportunity to meet with a certified 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...
There will be a Maryland First Time Home Buyer Seminar on Wednesday, October 8, 2014, at 6:30 PM till 8:30 PM. The seminar will last about 2 hours and each participant will be able to receive a copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Maryland. The seminar will cover Maryland FHA loans, Maryland VA loans, Maryland USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Maryland FHA 203k Rehab loans. Each participant will receive a Credit Scoring Handbook, Home Buying Handbook, and an opportunity to meet with a certified 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...
Delaware Mortgage Rates weekly mortgage market update for the Week of September 22, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan
Delaware Mortgage Rates were able to stabilize last week after moving higher for the past two weeks. If you look at the mortgage bond chart below you can see mortgage bonds have been on a downward trend which has moved mortgage rates higher but last week we were able to hammer out a floor of support. With the Fed Meeting behind us, we are looking to see if mortgage bonds can rally and move higher off the line of support seen in the chart below. Friday mortgage bonds were able to build on some momentum from Thursday and close above the line of support so we are recommending FLOATING your
There will be a Delaware First Time Home Buyer Seminar on Saturday, October 18, 2014, at 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a 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. The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD-approved home buyer counseling required for Delaware First Time Home Buyer Programs.
Each participant will receive a Credit Scoring Handbook, Home Buying Handbook, A Household Budget Calculator Worksheet and an opportunity to meet with a certified 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 options for borrowing 100% financing to purchase a home in Delaware.
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 on October 18, 2014. To register for the seminar, please call 302-703-0727. You can also e-mail me at jthomas@primeres.com. You can register online by clicking the Registration link below:
APPLY ONLINE today to be pre-approved for a mortgage to buy your first home in Delaware. Primary Residential Mortgage is an approved lender for the Delaware Bond Program through DSHA.
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
Fannie Mae Homepath Mortgage Loan Program will no longer be eligible for use by home buyers effective October 6, 2014. Fannie Mae designed the Homepath loan program to be used to purchase specifically targeted homes in their inventory of homes for sale. The Homepath loan is a special loan program that allows a home to be purchased with no appraisal and no mortgage insurance with only putting down 5% of the purchase price as a down payment. The original program only required 3% down payment but that was increased to 5% down payment effective November 1, 2013.
The highlights of Fannie Mae Homepath Loans are as follows:
No Lender-requested appraisal
Only 5% down payment and can be from gift funds
Flexible terms (ARM or Fixed)
No Mortgage Insurance Required
Expanded Seller Contribution from 3% to 6%
Available for Primary Residence, Second Home & Investment
In order to still use the Homepath financing program, you must have a fully executed sales contract with Fannie Mae before October 6, 2014. The property must be eligible for Homepath. You can check that the property is eligible by looking the property upon Fannie Mae’s website at www.HomePath.com. You need to see the following symbols on the property:
Fannie Mae Homepath also has a renovation loan option called Homepath Renovation. The loan program also doesn’t require mortgage insurance but does require an appraisal to determine the required repairs. The renovation amount of the loan is based on the as completed value or after repair value. The maximum renovation loan amount is $35,000. The property must have the following symbol on the Homepath website:
If you would like to take advantage of this loan program before it is gone, the first step is to get pre-approved and then quickly search for a homepath eligible property in your price range. For a fast Fannie Mae Homepath Loan Pre-approval call 302-703-0727 or apply online at Homepath Mortgage Application
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
There will be a Maryland First Time Home Buyer Seminar on Saturday, September 27, 2014, at 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Maryland. The seminar will cover Maryland FHA loans, Maryland VA loans, Maryland USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Maryland FHA 203k Rehab loans. Each participant will receive a Credit Scoring Handbook, Home Buying Handbook, and an opportunity to meet with a certified 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 Sheraton Hotel in Towson, Maryland from 10:00 AM till 12:00 PM. Register by calling 410-412-3319. You can also e-mail me at jthomas@primeres.com. You can register online by clicking the Registration link below:
APPLY ONLINE today to be pre-approved for a mortgage to buy your first home in Maryland. Primary Residential Mortgage is an approved lender for the Maryland CDA Program
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
Delaware First Time Home Buyer Seminaron Saturday, October 11, 2014, at 10 AM in Dover, Delaware. The seminar will last about 2 hours and each participant will be able to receive a 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. You will be able to get pre-approved at the seminar by a Delaware Mortgage Company.
Each participant will receive a 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. Your presenter is the author of the new book, Your Guide to Buying Your First Home in Delaware. The Seminar is being held at: The Dover Holiday Inn 561 North Dupont Highway Dover, DE 19901
