This little-known government database, called U.S. Department of Housing and Urban Development Credit Alert System (CAIVRS), checks for specific types of credit defaults that could affect your mortgage loan approval. If you want to get pre-approved for aMortgage Loan program to purchase or refinance a home please call the John Thomas Team at 302-703-0727 or APPLY ONLINE..
Delaware FHA Good Neighbor Next Door (GNND) is the new name for an old FHA Loan Program. Most of you may know it as the Delaware Teacher Next Door Program or Delaware Officer Next Door Program. In 2005 HUD changed the program to include firefighters and emergency medical technicians (EMTs).
If you would like to apply for the Good Neighbor Next Door Program, please give us a call at 302-703-0727 or apply online
John Thomas March 16, 2009 Tags: Delaware FHA Loan
FHA loans will currently let you take cash out of your home up to a maximum of 95% loan to value. The guideline changed on January 1, 2009, to require you to have two appraisals for cash-out above 85% loan to value. Now the guidelines will change again on April 1, 2009, so that the maximum loan to value for cash-out refinances in Delaware for FHA loans will be 85%. If you get your FHA case # assigned before April 1, 2009, you can still go to 95% on your loan. So you don’t have to close by April 1st.
So if you have been considering refinancing to do debt consolidation then you need to hurry up because debt consolidation is considered cash-out. If you have questions or need help with an FHA loan, please call me at 302-703-0727 or APPLY ONLINE
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