(302) 703-0727

(302) 703-0727

New Castle County VHAP Program deadline January 31, 2012

John Thomas January 20, 2012 Tags: , , ,

The New Castle County Vacant Home Program called VHAP for short has run its course as a forgivable loan after 5 years. The county has set a deadline of January 31st for any application for the VHAP program which will give up to $10,000 for down payment and closing costs that is forgiven if you live in the home as your primary residence for 5 years. If you would like to apply for a mortgage using the VHAP program call 302-703-0727 or you can APPLY ONLINE and we can get you started.

The County will be transitioning to a new Vacant Home Program called VHAP2 which will be a deferred loan instead of a forgivable grant. The new program is set to roll out on March 1, 2012, so there will be a gap in availability of this program from February 1, 2012, till March 1, 2012, when the new program is set to roll out. Details of the new program have not been released yet. Keep Reading...

Delaware Mortgage Rates Weekly Update – January 16, 2012

John Thomas January 16, 2012 Tags: , ,

Delaware Mortgage Rates Weekly Update for January 16, 2012 by John R. Thomas from Primary Residential Mortgage

Delaware Mortgage Rates

The Mortgage Bond Market was closed today for Martin Luther King Jr Holiday. Mortgage bonds continue to trade at all-time highs which means mortgage rates are still at all-time historic lows. So now is still a great time to purchase a home or refinance your current Delaware Home Loan. Consumer Sentiment came in at a level not seen since May of 2011 but the real picture for shopping was shown in December sales at only 0.1% increase over November versus 0.4% expected. This was because retailers had to discount to get the sales which cut profits. Keep Reading...

Impact of Short Sales on New Castle County & Kent County Delaware for 2011

John Thomas January 15, 2012 Tags:
distressed properties

As of December 2011 close to one in four listings in New Castle County closed as a short sale or bank-owned property (REOs). As of December 2011, one in three in listings that sold in Kent County were short sales or bank-owned properties (REOs). In the pictures above we can see December 2011 alone for New Castle and Kent Counties, and below we see the figures for 2011 as a whole. The biggest difference between New Castle and Kent Counties is that 15.5% of REO or Bank-Owned properties settled in NCCO, while 22.6% settled in Kent County. Short sale figures are almost identical, although the more densely populated northern New Castle County handled almost four times as many individual properties Keep Reading...

Delaware First Time Home Buyer Seminar – February 18, 2012

John Thomas January 13, 2012 Tags: ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, February 18, 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...

Delaware Mortgage Rates Weekly Update – January 9, 2012

John Thomas January 9, 2012 Tags: , ,

Delaware Mortgage Rates weekly update for the week of January 9, 2012 – Call 302-703-0727 to apply for a Delaware mortgage loan for the purchase or refinance of a home in Delaware or APPLY ONLINE.

Delaware mortgage rates are still at all-time lows even after Friday’s job report of 200,000 jobs created and the unemployment rate coming down to 8.5%. Mortgage rates were able to stay at all time lows because the 8.5% unemployment rate is not telling the whole story, it doesn’t include all the people that stopped looking for work or that have accepted part-time work. The crisis in Europe continues and is helping to support low mortgage rates. Keep Reading...

Delaware Mortgage Rates Weekly Update – January 3, 2012

John Thomas January 3, 2012 Tags: , ,

Delaware Mortgage Rates Weekly Update for January 3 , 2012


Delaware mortgage rates are still at all-time historic lows which makes it the perfect time to refinance or purchase a new home. Call 302-703-0727 to apply now for a Delaware Home Loan or you can APPLY ONLINE. Mortgage Bonds started off the new year trading lower but recovered and ended at close to historically high level. The troubles in Europe are still causing traders to seek the safe haven trade of US bonds and treasuries.

I am recommending LOCKING your Delaware mortgage rate for the short term as rates are at all-time lows so the risk is that they will rise short term.  Long term out past 30 days you can float your rate. Call 302-703-0727 to have a free mortgage planning consultation or you can APPLY ONLINE. Keep Reading...

Delaware Mortgage Rates Weekly Update – December 19, 2011

John Thomas December 22, 2011 Tags: ,

Delaware mortgage rates weekly update for the week of December 19, 2011

You can apply for a Delaware Home Loan by calling 302-703-0727 or you can APPLY ONLINE.

Delaware mortgage rates have held pretty steady at historical lows even in the face of some good economic news. Jobless claims came in at lowest number since May 2008 at 366,000. Typically good economic news moves interest rates higher but the crisis in Europe and the Federal Reserve stepping in to purchase mortgage-backed securities has kept Delaware mortgage rates at historic lows. Keep Reading...

Delaware First Time Home Buyer Seminar – January 14, 2012

John Thomas December 16, 2011 Tags: , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, January 14, 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...