Tag Delaware First Time Home Buyer

Tag Delaware First Time Home Buyer

DSHA Mortgage Bond Loan Update – April 17 2012 – Must have filed 2011 Tax Return in order to Qualify

John Thomas April 17, 2012 Tags: , , , , ,

DSHA First Time Home Buyer Mortgage Bond Loan Update  for April 17, 2012 – DSHA sent out a notice today and stated the following:

2011 Federal Tax Returns Now Required

Effective today April 17, 2012, any application submitted to DSHA must include 2011 Federal Tax Returns. We cannot accept an application for an extension, we must have the return. For the First Time Homebuyer Program, you must now submit returns for the years: 2011, 2010 and 2009.

This means that if you have not filed then you are NOT ELIGIBLE To participate in the State of Delaware First Time Home Buyer Program thru the Delaware State Housing Authority (DSHA), this includes the down payment assistance program called the SMAL. Keep Reading...

Elsmere, Delaware – Repeals First Time Home Buyer Transfer Tax Credit – February 9, 2012

John Thomas February 19, 2012 Tags: , ,

Town of Elsmere Delaware repeals the first time home buyer transfer tax credit was repealed on February 9, 2012, by the Mayor of the town of Elsmere and the town council and is effective immediately.  The transfer tax in Delaware is 3% of the purchase price which is split equally between the state of Delaware and the county.  If the property is in a township, municipality, or city then the county portion of the transfer tax is collected by that entity. New Castle County, Kent County, and Sussex County all waive the transfer tax for first time home buyers if the property is in the county alone. The Town of Elsmere had been giving the waiver as well until Thursday, February 9, 2012. Keep Reading...

Delaware First Time Home Buyer Seminar – January 14, 2012

John Thomas December 16, 2011 Tags: , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, January 14, 2012, at 10:00 AM till Noon and again at 1:00 PM till 3:00 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 FHA 203k Rehab loans. Keep Reading...

Delaware First Time Home Buyer Seminar – December 17, 2011

John Thomas November 17, 2011 Tags: , , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, December 17, 2011, at 10:00 AM till Noon and again at 1:00 PM till 3:00 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 FHA 203k Rehab loans. Keep Reading...

Delaware First Time Home Buyer Seminar – November 19, 2011

John Thomas October 20, 2011 Tags: , , ,

Delaware First Time Home Buyer Seminar

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, November 19, 2011, at 10:00 AM till Noon and again at 1:00 PM till 3:00 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 FHA 203k Rehab loans. Keep Reading...

Delaware Mortgage Bond Program Update – October 2011 – Bank of America exiting servicing

John Thomas October 9, 2011 Tags: ,

Delaware Morgage Bond Program administered by the Delaware State Housing Authority (DSHA) is below market interest rate loans for first time home buyers that are sold to Bank of America to service. Bank of America announced on October 3, 2011, to all of the lenders that make DSHA loans that it is exiting the business of servicing these loans and all loans must be delivered by December 14, 2011, or they will not buy them.

What does this mean for you? You must close your DSHA loan by November 7th for almost all lenders so that they have time to sell the loan to Bank of America by December 14, 2011. DSHA has not announced that it has anyone else that has agreed to service these Mortgage Bond loans so if no one is found by November 7th there will be a lapse in the ability of a borrower to get these loans. If you are using the program for the SMAL loan for down payment assistance then you may have other options from New Castle County or City of Wilmington or City of Newark. If you are just using the first mortgage program then you can just switch to a regular FHA loan but the interest rate will be slightly higher. Keep Reading...

Delaware First Time Home Buyer Seminar – October 15, 2011

John Thomas September 25, 2011 Tags: , , ,

Delaware First Time Home Buyer Seminar – There will be a Free Delaware First Time Home Buyer Seminar on Saturday, October 15, 2011, at 10:00 AM till Noon and again at 1:00 PM till 3:00 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 FHA 203k Rehab loans. Keep Reading...

Free Delaware First Time Home Buyer Seminar – September 24, 2011

John Thomas August 12, 2011 Tags: ,

There will be a Free Delaware First Time Home Buyer Seminar on Saturday, September 24, 2011, at 10:00 AM till Noon and again at 1:00 PM till 3:00 PM. The seminar will last about 2 hours and each participate 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. Keep Reading...