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Delaware First Time Home Buyer Seminar – January 19, 2013

John Thomas December 17, 2012 Tags: , , ,
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Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, January 19, 2012, at 10:00 AM till Noon and again at 1:00 PM till 3:00 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.

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. Keep Reading...

Delaware Mortgage Rates Weekly Update December 17 2012

John Thomas December 17, 2012 Tags: , , , , , , ,
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Delaware mortgage rate weekly update for the week of December 17, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark, Delaware branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates ended the week higher because of a bounce back in the stock market and supply selling pressure. The rates are still near record lows and could bounce back to record lows in the weeks to come as there is still much uncertainty in the market surrounding the pending “Fiscal Cliff” and the Debt Crisis in Europe. There is still no deal that has been reached on the “Fiscal Cliff” and time is running out for Congress to reach a comprise. If a deal is reached then that could move home loan rates higher as the stock market would rally on the news. So we need to watch carefully and if it looks like the deal may be struck then I would recommend LOCKING your Delaware mortgage rate but we can FLOAT for now. Congress has delayed its Holiday break to stay and work on a deal for the Fiscal Cliff. Keep Reading...

FHA Extends Property Flipping Waiver till December 31 2014

John Thomas December 12, 2012 Tags: , ,
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Update to Property Flipping Waiver – FHA Extends the Waiver till December 31, 2014

In 2006, HUD published a final rule in the Federal Register amending regulations at 24 CFR 203.37a, prohibiting property flipping in the HUD/FHA single-family mortgage insurance programs by providing additional exceptions to the time restrictions on sales. The rule and Mortgagee Letter 06-14 became effective for mortgages endorsed for insurance on or after July 7, 2006.

For properties that do not meet the property flipping exception criteria, the property flipping waiver was recently extended through 12/31/14 Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update December 10 2012

John Thomas December 11, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of December 10, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark, Delaware branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates ended the week last week higher as mortgage bonds sold off to end the week. The reason for the sell-off in bonds is some good news released last week on the economy.  Friday the Labor Department released the November 2012 jobs report and stated employers added 146,000 new jobs in November which was well above the predicted 90,000 jobs. The unemployment rate also ticked down to 7.7% in November which is the lowest since December 2008. Keep Reading...

Delaware Mortgage Rates Weekly Update December 3, 2012

John Thomas December 2, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of December 3, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark, Delaware branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates have moved lower last week as no deal has been reached on the Financial “Fiscal Cliff” by the US Congress. The Fiscal Cliff is a series of events that will happen in 2013 if no action is taken by Congress. Here is a list of the events: Keep Reading...

Delaware Conforming Loan Limits Remain the Same for 2013

John Thomas December 2, 2012 Tags: , , , , ,

The maximum loan limit for Freddie Mac and Fannie Mae loans in 2013 for loans made in Delaware will remain the same as it was in 2012. The Federal Housing Finance Agency (FHFA) announced on Thursday, November 29, 2012, that the baseline limit that will apply to most of the country will be $417,000 for one unit properties. Below is a chart showing the conforming loan limits for New Castle County, Delaware; Kent County, Delaware’ and Sussex County, Delaware:

Number of Units:  Max Delaware (Kent, New Castle, & Sussex Counties) Loan Limit 1 Unit $417,000 Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update November 26, 2013

John Thomas November 25, 2012 Tags: , , , , , ,

Delaware mortgage rate weekly update for the week of November 26, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark, Delaware branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates drifted higher last week as the stock market rallied. Mortgage bonds have traded in a range for the past two weeks.  We are recommending LOCKING your Delaware mortgage rate if closing in the next 15-30 days but recommend floating longer term as rates could improve by bouncing off support. Short term risk is for rates to move higher as bonds are trading below the 50 days moving average and could fall lower.  The long term outlook for mortgage rates is for staying low as the economic factors are still negative. Keep Reading...

Maryland Home Buyer Seminar January 12, 2013

John Thomas November 25, 2012 Tags: , , ,
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Maryland First Time Home Buyer Seminar

There will be a Free Maryland First Time Home Buyer Seminar on Saturday, January 12, 2013, at 10:00 AM till Noon. The seminar will last about 2 hours and each participate 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 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 Free Credit Scoring Handbook, Free 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...