Delaware First Time Home Buyer Tips The Federal Reserve and Mortgage Rates

Understanding what cause mortgage interest rates to move up or down.

The Federal Reserve constantly evaluates the US economy and, when necessary, takes steps to address inflationary concerns and avoid economic recession or depression. The mass media, in turn, reacts by providing a wide range of opinions and interpretations of the Fed’s monetary policy. This can make it very difficult for consumers to decipher how such actions will influence interest rates in general and mortgages in particular. Keep Reading...

Delaware First Time Home Buyer Tips – Quick Tips for Getting Started on Your Home Purchase

Buying a home can be a complex process, but it doesn’t have to be. With a little preparation, you can save a lot of time and hassle by having all of your documents ready when your mortgage professional needs them.

To start with, the lender will need personal information to verify employment for you and your co-borrower (if there is one). They will also need information regarding all of your debts and assets.

In order to expedite the paperwork process, start gathering the following items: Keep Reading...

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, July 10, 2010, at 10:00 AM. 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...

The Senate had put a provision in a bill that was to extend jobless benefits and some other provisions to help the economy but the bill was voted down on a test votes so it went back the to the finance committee to be re-worked. In the re-working, Senator Reid added a provision to extend the deadline for closing on your loan from June 30th to September 30th in order to still receive the First Time Home Buyer Tax Credit. The bill hasn’t been voted on by the Senate, just the amendment to the bill. The bill must pass the Senate and then the House. Keep Reading...