There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 5, 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...

Delaware Existing home sales jumped in April 2010

Homes Sales jumped in April 2010 more than expected lead by the Tax Credit that expired on April 20, 2010.  The National Association of Realtors reported that the sales of previously owned homes rose 7.6 percent to adjusted annual rate of 5.77 million. The expected amount was 5.63 million units. The increased demand caused the average home price to rise to $173,100, which is up 4 percent from a year ago. The northeast experienced a 21% increase.  Here is the article with more details http://www.cnbc.com/id/37314201 Keep Reading...

Fannie Mae Announces – New Credit Guidelines, Lender required to check credit right before closing to verify no new inquiries on credit or new open accounts. This could cause a loan to be denied at last minute or at least delay closings. Need to educate borrowers that once mortgage application is made, absolutely nobody can check their credit for any reason!! There are some other items outlined as well such as social security number validation and stricter occupancy validation required by the lender. If you would like me to send you the complete update from Fannie Mae, just leave a comment and I will send it to you.  Here is the link to the Official Release from Fannie Mae. There are two documents the initial release from March 2010 and then a follow clarification of the new guidelines released May 2010 that specifically state lender must verify by checking credit just prior to closing. http://www.box.net/shared/v49fvt3n3f http://www.box.net/shared/jkna2m73f8 For more information please contact John R Thomas at 302-703-0727 or send an e-mail to DelawareMortgages@yahoo.com

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713

Here is an update on new Guidelines from Fannie Mae from John R Thomas, Certified Mortgage Planner.

Here is the link to the Fannie Mae Guideline http://www.box.net/shared/6trkfd9t35

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713