(302) 703-0727

(302) 703-0727

New HARP 2.0 Refinance Program Expected to Help Thousands of Underwater Delaware Homeowners

John Thomas December 10, 2011 Tags: ,

HARP 2.0 Refinance Program

Obama Plan Set to Help Underwater Homeowners in Delaware

Unveiled just a few short weeks ago, President’s Obama’s revamped Home Affordable Refinance Program (HARP) is expected to help hundreds of thousands of homeowners nationwide take advantage of today’s low-interest rates says Freddie Mac.

The original HARP refinances, started in April 2009, was semi-successful, but had it’s limitations and was needing a re-haul to continue to provide assistance and hopefully a spark to the Delaware economy.

The goal behind the Obama refinance program is clear, allow Delaware homeowners to reduce their monthly mortgage interest rate. These savings will then be, hopefully, plowed back into the local economy which will add jobs and make a dent in the Delaware unemployment rate. If we can create jobs that will fix the Delaware economy and the Delaware Housing Market. Keep Reading...

Delaware FHA Loan Limits reset back to higher limits for 2012-2013

John Thomas December 7, 2011 Tags:

Delaware FHA Loan Limits are changed back to higher limits with Mortgagee Letter 2011-39 announces changes to its mortgage limits with the passing of H.R. 2112 (The Consolidated and Further Continuing Appropriations Act of 2012), which reestablishes the previous higher FHA loan limits. Effective immediately with all new FHA case numbers until December 31, 2012, the loan limits are as follows:

New Castle County Limit- $420,000

Kent County Limit – $376,250

Sussex County Limit – $375,000

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

Delaware Mortgage Rates Update for Week of December 5, 2011

John Thomas December 6, 2011 Tags: , , ,

Delaware Mortgage Rates Update for the Week of December 5, 2011


Delaware mortgage rates have stayed at all time low levels for the past two weeks as the bond market has been held up by a level of support in anticipation of the Federal Reserve starting QE3 in the first quarter of 2012. QE3 would be the Federal Reserve purchasing mortgage-backed securities in the hopes of keeping mortgage rates near historic lows.

I am recommending locking your Delaware mortgage rate if closing in the next 7-10 business days. If you are closing in the next 30-60 days you can float interest rate. If you need to apply for a Delaware mortgage loan for the purchase or refinance of a home in Delaware, PA or Maryland call us at 302-703-0727 or APPLY ONLINE. Keep Reading...

Delaware Conventional Loan Limits for 2012

John Thomas December 6, 2011 Tags:

Delaware Conventional loan limits for 2012 have been released. Fannie Mae’s loan limits for 2012 for all conventional mortgage loans have been issued by the Federal Housing Finance Agency (FHFA) for all loans to be acquired by Fannie Mae in 2012. These maximum conforming loan limits will remain at existing levels.

First Mortgage Loan Limits for Delaware

New Castle County, Kent County, and Sussex County

1 Unit $417,000
2 Unit $533,850
3 Unit $645,300
4 Unit $801,950

Second Mortgage Loan Limit is $208,500.

If you need to apply for a Delaware mortgage loan you can call our office at 302-703-0727 or you can APPLY ONLINE. Keep Reading...

Delaware Mortgage Rates Weekly Update – November 28, 2011

John Thomas November 29, 2011 Tags: ,

Delaware mortgage rates weekly update for November 28, 2011.

Here is the video update for Delaware mortgage rates for the week of 11-28-2011:

Delaware Mortgage Rates were able to shrug off the move toward higher rates last week as they rallied today on news that the Federal Reserve might be instituting QE3 with the purchase of 454 Billion in mortgage-backed securities (MBS). Even though the stock market rallied over 200 points MBS market rallied back and home loan rates inched back down to the lowest rates in history. Now is the time to refinance or purchase a home in Delaware. Keep Reading...

Delaware HARP Program Changes for refinancing October 2011

John Thomas November 28, 2011 Tags: ,

Delaware HARP Refinance Loans for a conventional mortgage that underwater has some positive changes as of October 2011.

In October, President Obama announced plans to open up refinancing to more homeowners who are underwater. This proposal was a revision of the current Home Affordable Refinance Program (HARP).

So what does this mean to you?

This means that if your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. Keep Reading...

City of Wilmington Home Buyer Assistance Program HAP Delaware

John Thomas November 26, 2011 Tags:

!!FUNDS NO LONGER AVAILABLE FOR THIS PROGRAM!!

Please look into the following down payment programs that are still available in Wilmington, Delaware:

PRMI Dream Maker Down Payment Program for up to 3.5% of the purchase price

DSHA SMAL Loan Program for up to $8,000

DSHA Advantage 4 Grant Program for 4% of loan amount

City of Wilmington Home Buyer Assistance Program HAP

The City of Wilmington has a Homebuyer Assistance Program (HAP) that provides a deferred loan for up to $10,000 to qualified homebuyers to purchase homes in the City of Wilmington Delaware within the 19801, 19802, and 19805 zip codes. You can apply or get more information by calling 302-703-0727.  This is a Delaware down payment assistance program.  You can also APPLY ONLINE Keep Reading...

Delaware First Time Home Buyer Seminar – December 17, 2011

John Thomas November 17, 2011 Tags: , , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, December 17, 2011, 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...