(302) 703-0727

(302) 703-0727

Maryland FHA Loan Limits for 2011

John Thomas November 2, 2010 Tags: ,

The Maryland 2011 FHA loan limits by county are unchanged from 2010.  With only a 3.5% down payment, FHA mortgages have been a great mortgage option for First Time Home Buyers.

For more information about a Maryland FHA Mortgage, Loan Limits, or FHA guidelines, please feel free to contact me directly.

John R. Thomas 410-412-3319 MD Office  302-703-0727 DE Office  610-906-3109 PA Office

County Name Single Family Duplex Tri-plex Four-plex
ALLEGANY $271,050 $347,000 $419,400 $521,250
CUMBERLAND, MD-WV (MSA)
ANNE ARUNDEL $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
BALTIMORE $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
BALTIMORE CITY $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
CALVERT $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
CAROLINE $271,050 $347,000 $419,400 $521,250
NON-METRO
CARROLL $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
CECIL $420,000 $537,650 $649,900 $807,700
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
CHARLES $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
DORCHESTER $271,050 $347,000 $419,400 $521,250
CAMBRIDGE, MD (MICRO)
FREDERICK $729,750 $934,200 $1,129,250 $1,403,400
BETHESDA-GAITHERSBURG-FREDERICK, MD METR
GARRETT $437,500 $560,050 $677,000 $841,350
NON-METRO
HARFORD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
HOWARD $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
KENT $343,750 $440,050 $531,900 $661,050
NON-METRO
MONTGOMERY $729,750 $934,200 $1,129,250 $1,403,400
BETHESDA-GAITHERSBURG-FREDERICK, MD METR
PRINCE GEORGE’S $729,750 $934,200 $1,129,250 $1,403,400
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
QUEEN ANNE’S $560,000 $716,900 $866,550 $1,076,950
BALTIMORE-TOWSON, MD (MSA)
SOMERSET $328,750 $420,850 $508,700 $632,200
SALISBURY, MD (MSA)
ST. MARY’S $400,000 $512,050 $618,950 $769,250
LEXINGTON PARK, MD (MICRO)
TALBOT $443,750 $568,050 $686,650 $853,350
EASTON, MD (MICRO)
WASHINGTON $377,500 $483,250 $584,150 $725,950
HAGERSTOWN-MARTINSBURG, MD-WV (MSA)
WICOMICO $328,750 $420,850 $508,700 $632,200
SALISBURY, MD (MSA)
WORCESTER $437,500 $560,050 $677,000 $841,350

APPLY ONLINE today to be pre-approved for a mortgage to buy or refinance a home in Delaware, Maryland, or Pennyslvania.

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

Delaware FHA Streamline Refinance Guidelines for 2010

John Thomas November 2, 2010 Tags: ,

FHA Guidelines for Delaware Streamline Refinances have some significant changes from mortgagee letter 2009-32

Revisions for ALL Streamline Refinance Transactions:

Seasoning:
At the time of loan application, the borrower must have made at least 6 payments on the FHA-insured mortgage being refinanced. In order to complete the refinance, you need to obtain an FHA Case # assignment but FHA will not assign the case # until after the appropriate amount of time has passed since you obtained the FHA loan.

Payment History:
At the time of the loan application, the borrower must exhibit an acceptable payment history as described below. Keep Reading...

Delaware Veteran Loans – Free Online Workshop – November 2, 2010

John Thomas October 29, 2010 Tags: , ,

Free Online Workshop for Delaware Veterans who want to know the 10 Insider Tips on Delaware VA home loans. Online Workshop is scheduled for Tuesday, November 2, 2010, at 8:30 PM.  The seminar will explain in detail, the top 10 questions veterans ask about VA Home Loans.

Attend the Free Online Workshop from the comfort of your own home by registering online. You can get all your questions answered live during the Online Workshop.

REGISTER NOW

APPLY FOR VA lOAN NOW

For a Complete list of seminars visit Free Delaware Real Estate Seminars. Keep Reading...

Delaware First Time Home Buyer Seminar – November 20, 2010

John Thomas October 28, 2010 Tags: ,

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, November 20, 2010, at 10:00 AM and again at 1:00 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.

Each participant will receive a Free Audio CD on Homebuying 101, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a 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...

Delaware Mortgage Rates for Week of October 18, 2010

John Thomas October 18, 2010 Tags:

This week brings us the release of four economic reports for the markets to digest, but none of them are considered to be highly important to mortgage rates. However, this by no means leads me to believe we will have an uneventful week. This will be an extremely busy week for corporate earnings, which usually translates into stock volatility. The lack of important economic data on this week’s calendar makes it more likely that any significant swings in stock prices will influence bond trading and Delaware mortgage rates. Keep Reading...

Bank of America Exits Wholesale Lending

John Thomas October 5, 2010 Tags: ,

Bank of America has announced that it will exit the wholesale lending business. Wholesale lending is the business of working with Mortgage Brokers in order to get loans originated. This is the third time Bank of America has exited the wholesale lending business. It had most recently got back into the business when it bought Countrywide and had to absorb its huge Mortgage Wholesale business.

Bank of America had an 8% market share for wholesale lending. B of A said it was going to focus on its retail lending and its correspondent lending.  Retail lending is when you call Bank of America directly to get a loan and correspondent lending is when it buys loans from other mortgage banks after they originate and fund the loans. Bank of America retail is notorious for delayed closings and frustrated borrowers so maybe this can help them get their act together. Keep Reading...

Delaware Mortgage Rates for Week of October 3, 2010

John Thomas October 3, 2010 Tags:

This week brings us the release of only two monthly economic reports that are likely to influence Delaware mortgage rates. However, one of those two releases is extremely important to the financial and mortgage markets. We start the week with one of them and end it with the more important one. In between, we can expect the stock markets to drive bonds prices and mortgage rates. If the major stock indexes extend September’s gains, the bond market will likely move lower this week. As bond prices drop, their yields move higher. And since mortgage rates tend to follow bond yields, we would prefer to see stock weakness and bond prices to move higher. Keep Reading...

Tax Filing Deadline for 2009 Extensions – October 15, 2010

John Thomas October 2, 2010 Tags:

Delawareans have until October 15, 2010, to file their tax returns if they filed an extension instead of filing by April 15, 2010.

October 15, 2010

Final deadline to file individual tax returns (with extension).

Last day the IRS will accept an electronically filed tax return for 2009. If filing after October 15th, you’ll need to mail in your tax return for processing.

APPLY ONLINE today to be pre-approved for a mortgage to buy your first home in Delaware.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc. Keep Reading...