(302) 703-0727

(302) 703-0727

Delaware First Time Home Buyer Programs – New Castle County Programs

John Thomas June 23, 2009 Tags: , , , , ,
featured image
Delaware First Time Hom Buyer Programs

New Castle County Delaware has Two First Time Home Buyer Programs:

New Castle County Down Payment Settlement Program (DPS)

The New Castle County Down Payment Settlement Program is a Delaware first time home buyer program that gives first time home buyers deferred payment loans for up to $5,000 to cover customary settlement costs and required down payment to purchase a home located in New Castle County, Delaware.  The loan is an 8-year loan that requires no payment for the first 3 years of the loan.  The loan is then repaid over the last 5 years at an interest rate of 3%.  If a loan is paid off in the first 3 years then no interest is charged.  The residence must be borrower’s primary residence throughout the duration of the loan.  Call 302-703-0727 to apply for the program or APPLY ONLINE Keep Reading...

Delaware First Time Home Buyer Programs – Delaware Bond Program

John Thomas June 10, 2009 Tags: , , , ,
featured image

Delaware Bond Program for First Time Home Buyers

Delaware First Time Home Buyers have several options for first time home buyer programs.  The State of Delaware has several programs available for home buyers in all 3 counties (New Castle, Kent, and Sussex) of Delaware.  The Delaware Bond program is governed by The Delaware State Housing Authority.  The program is called The Single Family Mortgage Revenue Bond Program.  The program is commonly referred to as the Delaware First Time Home Buyer Program but is only one of many different programs available in Delaware.  Call 302-703-0727 to apply for the program or APPLY ONLINE Keep Reading...

Delaware First Time Home Buyer Seminar – June 20, 2009

John Thomas May 31, 2009

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 20, 2009, from 10:00 AM till Noon. 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 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009, that is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!! Keep Reading...

First Time Home Buyer Tax Credit for 2009

John Thomas May 31, 2009

Here are the highlights for the First Time Home Buyer Tax Credit for buying a home in 2009.

  • 10% of Sales Price up to $8,000
  • Have not owned a home in the last 3 years
  • Don’t have to pay it back
  • Must buy by December 1, 2009
  • May amend 2008 tax return to claim money right after settle
  • Income phase out starts at $75,000 for individuals and $150,000 for joint filers
  • $4,000 max for a married person filing separately
  • Must live in the property as a principal residence for 36 months or have to pay full tax credit back
  • Credit is applied for on IRS form 5405
  • You cannot take credit if but home from a close relative
  • FHA just came out with Mortgage Letter for homebuyers to take tax credit before they buy a home as a loan from an acceptable source. Cannot use toward 3.5% minimum down payment for FHA Loan.
    • Keep Reading...

    First Time Home Buyer Seminar – June 27, 2009

    John Thomas May 30, 2009
    There will be a Free Delaware First Time Home Buyer Seminar on Saturday, June 27, 2009, 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 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009, that is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!!

    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 First Time Home Buyer Seminar – May 30, 2009

    John Thomas May 19, 2009
    There will be a Free Delaware First Time Home Buyer Seminar on Saturday, May 30, 2009, 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 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009, that is a check for $8,000 from the IRS to you at tax time just for buying a home!  The best thing is you don’t have to ever pay the $8,000 back!!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.

    The Seminar is being held at The Seminar is being held at Christiana Hilton Hotel 100 Continental Drive, Newar, DE 19713 from 10:00 AM till 12:00 PM and a second session from 1:00 PM till 3:00 PM. To register for the seminar, please call 302-588-3665 and ask for John Thomas. You can also e-mail me at DelawareMortgages@yahoo.com

    For a Complete list of seminars visit www.DelawareMortgageLoans.net/seminars

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

    Delaware First Time Home Buyer Seminar – April 18, 2009

    John Thomas April 8, 2009

    There will be a Free Delaware First Time Home Buyer Seminar on Saturday, April 18, 2009, 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 203k Rehab loans. Learn how to get $8,000 tax credit for buying a home in 2009.  That is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don’t have to ever pay the $8,000 back!! Keep Reading...

    New $8,000 Tax Credit for Delaware First-time Home Buyers

    John Thomas March 30, 2009

    Great news for first-time home buyers in 2009! The stimulus plan that President Obama signed into law contains a new $8,000 tax credit for qualified first-time home buyers. And, unlike the $7,500 tax credit from last year, this credit does NOT have to be repaid to the government, as long as you stay in the home for at least 36 months after the purchase date. Remember, a tax credit is much more valuable than a tax deduction. A tax credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable. This means the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Who?
     Keep Reading...