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

Delaware First Time Home Buyers looking to get the $8,000 tax credit must be under contract by midnight tomorrow April 30, 2010, and must close by June 30, 2010. This also applies to Delaware move up home buyers looking to take advantage of the $6,500 tax credit. If you make the deadline you can claim the tax credit on your 2009 tax return by filing an amendment. The form for the amendment can be found at http://www.irs.gov/pub/irs-pdf/f5405.pdf

If you need help obtaining a mortgage to buy a home in Delaware feel free to call me at 302-703-0727 or send an e-mail to DelawareMortgages@yahoo.com Keep Reading...