(302) 703-0727

(302) 703-0727

Delaware First Time Home Buyer Seminar – April 21, 2012

John Thomas March 17, 2012 Tags: , , ,

Delaware First Time Home Buyer Seminar  There will be a Free Delaware First Time Home Buyer Seminar on Saturday, April 21, 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 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 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. Keep Reading...

Delaware Mortgage Rates Weekly Update for March 12 2012

John Thomas March 13, 2012 Tags: , , , ,

Delaware mortgage rates weekly update for the week of March 12, 2012, by John R. Thomas from Primary Residential Mortgage in Newark, Delaware.  Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE NOW.

Delaware mortgage rate weekly update by John R. Thomas

Delaware mortgage rates started the week opening slightly lower after moving higher last week as the bond market sold off. The big report last week was the number of jobs created which was at 227,000 for February 2012. There was also a revision for December and January numbers which was an increase of 61,000 jobs. The unemployment rate held steady at 8.3%.  The big news is the uncertainty coming out of Greece. Investors in Greek debt inked a deal that had investors forgiving 100 billion in debt. This is not a solution but more of a temporary band-aid. Keep Reading...

New Castle County Vacant Home Buyer Program – VHAP II Available March 15 2012

John Thomas March 7, 2012 Tags: , , , , ,

New Castle Count Vacant Home Buyer Program VHAP

New Castle County Vacant Home Buyer Program VHAP II will be available for applications starting March 15, 2012. The program is called VHAPII for short an is an FHA approved Down Payment Assistance Program. The VHAP provides down payment and closing cost assistance for Delaware home buyers for up to $10,000 at a maximum of 6% of the purchase price. The money is provided in the form of a 2nd mortgage recorded against the property. The loan is at 0% interest and doesn’t have to be paid back until you sell the property, move out as primary residence, or refinance the property. You can apply for the loan with the preferred lender by calling 302-703-0727 or you can APPLY ONLINE. Keep Reading...

President Obama Announces Reduction in FHA Streamline Refinance Fees on March 6 2012

John Thomas March 6, 2012 Tags: , ,

FHA Streamline Refinance Fees are being lowered to help more people be able to take advantage of the FHA streamline refinance program, this was announced by President Obama on March 6, 2012, but won’t be effective until an FHA Mortgage Letter is released. The fees being lowered are the FHA Mortgage Insurance Premiums. The FHA streamline refinance program allows borrowers that have been current on their mortgage in the last 12 months to refinance without getting an appraisal or verifying income. This is a huge benefit to borrowers that may be underwater on their FHA mortgage. Call 302-703-0727 to take advantage of the FHA Streamline Refinance or APPLY ONLINE.
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Delaware Mortgage Rate Weekly Update for March 5 2012

John Thomas March 5, 2012 Tags: , , ,

Delaware mortgage rates weekly update for the week of March 5, 2012, by John R. Thomas from Primary Residential Mortgage. Call 302-703-0727 for a free mortgage planning appointment or APPLY ONLINE.


Delaware mortgage rate weekly update from John R. Thomas

Delaware mortgage rates had a volatile week last week. Mortgage rates rose significantly after Federal Chairman Ben Bernanke gave his testimony to the House Financial Services Committee. The testimony caused both stocks and bonds to sell off as he made no mention of QE3 which was being anticipated by the market. Delaware home loan rates did improve some at the end of the week but we didn’t recover from everything we lost after Ben’s speech. Keep Reading...

Do You Need a Buyer’s Agent When Buying New Construction From a Builder?

John Thomas March 3, 2012 Tags: , ,

Do you need a buyer’s agent to represent you when buying a new construction home from a builder? John R. Thomas with Primary Residential Mortgage and Jeff Garvey with Keller Williams Realty will answer this question in the video.


Do You Need a Buyer’s Agent When Buying New Construction from a Builder? The answer is yes. The builder has a sales agent at the model but they represent the builder and not the home buyer.  The sales agent is even required to be licensed as a real estate agent.  The builder will pay your buyer’s agents’ commission. The Buyers Agent will negotiate with the builder to protect you and make sure you get the best deal possible. Keep Reading...

FHA Announces Increase in MI Effective April 9 2012

John Thomas March 2, 2012 Tags: , ,

FHA Announced Increase in MI Effective April 9, 2012

FHA announces it is increasing the upfront mortgage insurance premium and the yearly mortgage insurance premium effective April 9, 2012. The Guideline changes are discussed below in the video by John R. Thomas from Primary Residential Mortgage.  Call 302-703-0727 if you would like more information or apply for an FHA Loan for the purchase or refinance of home or APPLY ONLINE.

New FHA Mortgage insurance Guidelines Effective April 9, 2012, by John R. Thomas from Primary Residential Mortgage

HUD/FHA is making the following guideline changes effective with FHA case numbers pulled on or after April 9, 2012: Keep Reading...

Delaware Mortgage Rate Weekly Update for February 27 2012

John Thomas February 27, 2012 Tags: , , , ,

Delaware mortgage rate weekly update for the week of February 27, 2012, with John R. Thomas from Primary Residential Mortgage in Newark, Delaware. Advice on Floating or Locking your Delaware mortgage interest rate. Call 302-703-0727 for a free mortgage planning consultation or APPLY ONLINE.

Delaware mortgage rates improved at the end of last week breaking the trend from the previous week that saw interest rates rising.  The mortgage bond is now trending higher again which means mortgage rates are trending lower.  The pattern for the past couple of weeks has been like a roller coaster.  I recommend FLOATING your Delaware mortgage rate as we see if the trend of lower rates can hold. We need to watch the PCE report this week which is a measure of inflation, if this comes out hotter than expected we could see rates reverse and trend higher again. Keep Reading...