(302) 703-0727

(302) 703-0727

FHA Wants to lower Allowable Seller Paid Closing Costs from 6% to 3%

John Thomas February 25, 2012 Tags: , ,

HUD wants to lower allowable seller paid closing costs from 6% to 3% on ALL FHA loans. Only a 30-day window to comment so URGENT that you take action and make comments, see links below.

HUD/FHA Proposed to lower seller paid closing costs from 6% to 3%.

I highly encouraged everyone to take action IMMEDIATELY to submit your comments to the FHA regarding the reduction of the seller concessions to a maximum of 3% or $6,000 whichever is greater.

Please read the notice below to see HUD’s points regarding why they wish to reduce the maximum amount of seller concessions. Some good arguments are made by HUD to do so…However, in the grand scheme of things within the housing market today and the view that I see from the ground floor, now is NOT the time to move forward with this proposal. Keep Reading...

Delaware Mortgage Rates Weekly Update February 20 2012

John Thomas February 20, 2012 Tags: , , , ,

Delaware mortgage rates weekly update for the week of February 20, 2012, by John R. Thomas from Primary Residential Mortgage. Call 302-703-0727 for a free mortgage planning consultation or APPLY ONLINE.

Delaware mortgage rates weekly update for February 20, 2012, by John R. Thomas

Delaware mortgage rates ended last week higher after some good economic news and a hot reading on inflation. The good news helped push the stock market higher pulling money out of the bond market which moved mortgage interest rates higher. The good news released last week included the following: Keep Reading...

Is Your Delaware Loan Officer Licensed?

John Thomas February 20, 2012 Tags: , , , , ,
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Is Your Delaware Loan Officer Licensed?

How can you check to see if your Delaware loan officer is licensed to do business as a loan originator and even if they are licensed to do business in Delaware?  It is real easy to check, every loan originator is required to have a loan originator license number with the National Mortgage Licensing System (NMLS).  You can look up anybody at the following website:

www.nmlsconsumeraccess.org

You should always check to see if a loan officer is licensed and they should always be able to provide you with their NMLS number.  For example, my NMLS is 38783 so you can look me up by name, John Richard Thomas or NMLS number, 38783.  Once you find me, it will tell you what company I work for, Primary Residential Mortgage, Inc., what states I am currently licensed to do business in and if my licensed is active or expired.  See below for picture from NMLS consumer website: Keep Reading...

Delaware First Time Home Buyer Seminar – March 17, 2012

John Thomas February 19, 2012 Tags: , , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, March 17, 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. Keep Reading...

Elsmere, Delaware – Repeals First Time Home Buyer Transfer Tax Credit – February 9, 2012

John Thomas February 19, 2012 Tags: , ,

Town of Elsmere Delaware repeals the first time home buyer transfer tax credit was repealed on February 9, 2012, by the Mayor of the town of Elsmere and the town council and is effective immediately.  The transfer tax in Delaware is 3% of the purchase price which is split equally between the state of Delaware and the county.  If the property is in a township, municipality, or city then the county portion of the transfer tax is collected by that entity. New Castle County, Kent County, and Sussex County all waive the transfer tax for first time home buyers if the property is in the county alone. The Town of Elsmere had been giving the waiver as well until Thursday, February 9, 2012. Keep Reading...

Primary Residential Mortgage – Introduction to the Best Delaware Mortgage Company

John Thomas February 16, 2012 Tags: , ,
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Best Delaware Mortgage Company – Primary Residential Mortgage, Inc.

Primary Residential Mortgage is the Best Delaware Mortgage Company and the only mortgage lender you should choose in the state of Delaware.  Primary Residential Mortgage is a mortgage banker that is located at 248 E Chestnut Hill Rd, Newark, DE 19713.  Call 302-703-0727 to schedule a free mortgage planning consultation for the purchase or refinance of a home in Delaware or you can APPLY ONLINE.

Introduction to Primary Residential Mortgage by John R. Thomas

What Does the Best Delaware Mortgage Company Do?

Primary Residential Mortgage Originates, Processes, Underwrites, and Funds all of their own loans.  PRMI provides all of the loan options available today in the market which include the following: Keep Reading...

Delaware Mortgage Rates Weekly Update for February 13, 2012

John Thomas February 13, 2012 Tags: , , , , ,

Delaware Morgage Rates Weekly Update for February 13, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Call 302-703-0727 for a free mortgage planning consultation or APPLY ONLINE.

Delaware mortgage rates weekly update by John R. Thomas

Delaware mortgage rates have started the week slightly higher as bond market has sold off last week and started a downward trend. When bond prices move down mortgage interest rates move up. The stock market has been having a great start to 2012, S&P is up 7.5% year to date as of February 10, 2012, this has taken money out of the bond market causing home loan rates to rise from historic lows. Keep Reading...

Six Reasons Why Now is a Perfect Time to Buy a Home in Delaware

John Thomas February 9, 2012 Tags: ,

Six Reason Why Now is a Perfect Time to Buy a Home in Delaware by John R. Thomas from Primary Residential Mortgage and Jeff Garvey from Keller Williams Realty. Call 302-703-0727 to get qualified for a mortgage to purchase or refinance a home in Delaware. You can also APPLY ONLINE.

Six Reasons Why now is a Perfect Time to Buy a Home in Delaware

  1. Reason 1 -Homes have never been more affordable
  2. Reason 2 – Mortgage Rates are at all time historic lows
  3. Reason 3 – Sellers are motivated to sell their homes
  4. Reason 4 – Lenders are back in the game
  5. Reason 5 – Owning is Cheaper than Renting
  6. Reason 6 – Homeownership is still the American Dream

If you would like to apply for a mortgage to be pre-approved to purchase or refinance a home in Delaware call 302-703-0727 or you can APPLY ONLINE.

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