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Delaware Mortgage Rates – Update – July 21, 2010

John Thomas July 21, 2010 Tags:

The bond market has reacted favorably to Fed Chairman Bernanke’s testimony to the Senate Banking Committee. Mr. Bernanke didn’t say anything that was a major surprise but did hit some key points that are favorable to bonds and Delaware mortgage rates. He said that he expects key short-term rates to remain low for an “extended period,” that the economic recovery will be slower than previously estimated and that the Fed could take further stimulus action if needed. He added that inflation remains lower than earlier forecasts. Keep Reading...

MacGray Matters – Financial News Update – July 19, 2010

John Thomas July 19, 2010 Tags: ,

MacGray Matter   July 19, 2010

FINANCIAL REFORM: Early this week, President Obama will sign the Financial Reform Act passed by the Senate this past week. What does the bill say?  Once again, it is very, very long and rather confusing. One of the main reasons I can’t tell you what it all means is that much of the Act simply directs the Executive Branch to do things, like make regulations. The bill will immediately create a 10-member Financial Stability Oversight Council, a powerful assembly of regulators chaired by the Treasury Secretary to keep watch over the entire financial system. The Obama administration has one year to create a new Bureau of Consumer Financial Protection. The Fed has until April to derive standards to measure the fairness of fees charged by banks to merchants for customers who use debit cards.  Regulators also will have to figure out how to implement new standards for how much capital banks should hold in reserve to protect against losses. The legislation requires rules in 18 months, but the U.S. is also part of international negotiations on what global capital standards should be, and those could move more slowly and affect how quickly the regulations are enacted. As we learn more about this legislation and its implications, we will provide additional information. Keep Reading...

Middletown Delaware Real Estate – New Listing – 1 Hayley Court

John Thomas July 16, 2010 Tags: , ,
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New Listing for Middletown Delaware Real Estate – 1 Hayley Court, Middletown, DE 19709

100% Financing Available on this home through special government program with preferred lender.

1 Hayley Court, Middletown, DE 19709

  • Square Footage – 2100
  • Bedrooms – 4
  • Baths – 2.5
  • Property Taxes – $1,597 a year
  • MLS # – 5742676

Whoever designed this Middletown home put a lot of thought into it! Spacious rooms throughout. This home offers you a formal living room and formal dining room, large kitchen with island, 1st-floor family room w/gas fireplace. Sliders from the kitchen lead to deck and huge fenced yard.  The second floor has 4 very spacious bedrooms, laundry area. The master bedroom gives you 2 walk-in closets plus master bath w/jacuzzi style tub, separate shower, and double vanity sink. The basement is finished with a recreation room and extra room perfect for an office, playroom or guest room. There is also a basement area w/workbench perfect for your workshop. Keep Reading...

Delaware First Time Home Buyer Tips – Loan Process for Purchase

John Thomas July 13, 2010 Tags: ,

Delaware First Time Home Buyer Tips – Loan Process for Home Purchase

Here is a Step-by-Step Guide to the Loan Process for purchasing a home from start to finish:

1. Pre-approval – Get pre-approved for a mortgage and know in advance exactly how much house you can afford. Completing this step will also increase your negotiating power since you’ll be viewed as a “cash buyer”.  This includes having a credit report pulled to verify you credit qualify for a loan.

2. Loan Search – Put yourself in the hands of an experienced mortgage professional, someone who will help you to determine which financing options best suit your needs today and in the future. You can also explore down payment assistance options. Keep Reading...

Delaware Mortgage Rates for Week of July 12, 2010

John Thomas July 12, 2010 Tags:

This week brings us the release of six important economic reports for the bond market to digest in addition to the minutes from the last FOMC meeting and two relevant Treasury auctions. Several of the economic reports are considered to be of high importance, meaning we will likely see volatility in the financial markets and mortgage pricing over the next several days. There are also some heavily watched corporate earnings releases scheduled for the stock markets this week that can influence bond trading and therefore, mortgage pricing. Keep Reading...

Delaware VA IRRRL Guidelines – (VA Streamline Refinance)

John Thomas July 9, 2010 Tags: , ,
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Delaware Veterans Administration IRRRL Refinance Loan Guidelines (VA Streamline Refinance)

If you currently have a Veterans Administration Home Loan, commonly called a VA Loan, then you have the option to do a streamline refinance to lower your interest rate called a Delaware VA IRRRL.  This is called a Delaware VA IRRRL Refinance, which stands for Interest Rate Reduction Refinance Loan.  You must currently have a VA loan on the property you want to refinance in order to qualify for a VA IRRL.

VA doesn’t require an appraisal on the property or any kind of credit check but most lenders will require a credit check to verify a minimum of 600 middle FICO score.  Some lenders may also require a conventional exterior appraisal on form 2055 but this is NOT a requirement of the Department of Veteran Affairs, it is a lender overlay. Keep Reading...

Delaware First Time Home Buyer Tips – What Banks Look For

John Thomas July 8, 2010 Tags:

Delaware First Time Home Buyer Tips – What Banks Look for in Home Loan Applications

Once your loan application is filled out and sent to the lender for review, the first thing they will look for is your ability to pay back the loan you are requesting. My team and I at Primary Residential Mortgage have a streamlined loan process to help you get your ducks in a row prior to this review. A grand slam loan package is in perfect order and answers all the important questions up front. We know what the lenders are looking for, based on long-term relationships with them and extensive knowledge of guidelines for a multitude of loan programs that are available today. Keep Reading...

Delaware Mortgage Rates – Wednesday July 7, 2010

John Thomas July 7, 2010 Tags: ,

I have issued an alert to lock your Delaware Mortgage Interest Rate before rates move higher. The stock market has rallied causing money to move out of the Bond Market causing Mortgage Lenders to reprice their rates for the worse. This is the second day the stock market has continued to rally. Rates have been at all-time lows so really have nowhere to go but up.

So if you are planning on refinancing your Delaware Mortgage Loan, now is the time. Call me to lock in a rate ASAP on your Delaware FHA Loan Refinance, your Delaware VA Loan Refinance, or even on a Delaware Conventional Loan Refinance. Keep Reading...