Primary Residential Mortgage is a Mortgage Company in Delaware providing Delaware Mortgage Loans, Delaware Mortgage Rates, and Delaware First Time Home Buyer Programs from a Local Mortgage Planner You Can Trust. 302-703-0727 Phone
Delaware mortgage rate weekly update for week of May 14, 2012 by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. John is the branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE for Delaware Mortgage Loan.
Delaware Mortgage rate weekly update by John Thomas
Delaware Mortgage Rates are still at all time historic lows after bad news comes out of Europe last week. France elected a new president and this is the 9th new leader for the Eurozone. Greece is also back in the news and has failed to get a new government that can institute the austerity measures required for their bailout. Also in the news, National Association of Realtors released two reports. The first report said in 1st quarter of 2012, 74 of 146 metro cities surveyed had home prices rise. NAR also stated inventory of existing homes for sale has decreased by 22% since this time last year and it is 41% lower than 2007 when inventories were at peak.
USDA also released information that it will begin using the 2010 census to determine property eligilibility in October 2012 for USDA Rural Housing Loans. This will probably cut in half the number of homes that are eligible for the program and could have a negative impact on the housing recovery. There is a bill in the Senate right now to extend current property eligibility till September 2013 so encourage your senators to vote for this bill.
New Castle County has stated it will no longer exempt Freddie Mac and Freddie Mae from the transfer tax effective June 14, 2012. So please read full report at New Castle County Transfer Tax update.
Free Delaware First time home buyer Seminars are schedule for May 19, 2012 in Newark, Delaware and May 22, 2012 in Dover, Delaware. You can register by calling 302-703-0727 or register online at Delaware First Time Home Buyer Seminars.
Free Maryland First time Home buyer seminar is scheduled for June 30, 2012 in Towson, Maryland. You can register by calling 410-412-3319 or online at Maryland First Time Home Buyer Seminars
If you would like to refinance or purchase a home in Delaware, Maryland, or Pennsylvania then give us a call at 302-703-0727 to schedule a free morgage consultation or APPLY ONLINE.
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage, Inc.
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office
New Castle County Delaware ruled that effective June 14, 2012 Fannie Mae and Freddie Mac will NO LONGER be exempt from transfer taxes on the sale of homes.
The New Castle County law department has recently ruled on transfer taxes on transactions involving Fannie Mae (Federal National Mortgage Company) or Freddie Mac (Federal Home Loan Mortgage Company). Historically, purchases from these entities have been treated as exempt from transfer tax as a conveyance from a governmental agency. In fact, Fannie Mae and Freddie Mac are NOT governmental agencies – they are federally chartered private corporations. New Castle County has decided to enforce that distinction starting on June 14, 2012.
Based on the language of the letter, we believe that any deed RECORDED on or after June 14th will be subject to full transfer tax (unless a first time home buyer or some other exemption applies). Technically, this letter only applies to the New Castle County transfer tax, not the State of Delaware, not Kent or Sussex and not any of the municipalities a property might be in. I expect that the State, the other counties, and municipalities will follow the interpretation offered by New Castle County.
If you have questions on Delaware transfer taxes or need help applying for a Delaware mortgage loan for the purchase or refinance of a home in Delaware, Maryland, or Pennsylvania then give us a call at 302-703-0727 or APPLY ONLINE for Delaware Mortgage.
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage, Inc.
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office APPLY ONLINE for Mortgage
Delaware Mortgage Rates Weekly Update for May 7, 2012 by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. John is the branch manager of the Newark office and is the author of the best selling book, Your Guide to Buying Your First Home in Delaware. John provides advice on floating or locking your Delaware mortgage interest rate each week in the update. You can call 302-703-0727 to schedule a free mortgage consultation or your can APPLY ONLINE for Delaware mortgage loan
Delaware mortgage rates weekly update by John Thomas
Delaware mortgage rates have stayed at all time historic lows as last weeks Job Reports helped support the mortgage bond market. The jobs report contained the non farm payroll jobs created which was expected at 162,000 but came in at 115,000. Unemployment rate actually ticked down to 8.1% but this was not actually good news because rate didn’t tick down because jobs were being created. It came down because the Labor Force Particpation Rate (LFPR) came in at 63.6 which is lowest reading since December of 1981. The LFPR measures how many eligible workers are actually participating in the economy.
I would recommend LOCKING your Delaware mortgage rate if you are looking to purchase or refinance your home in the next 30-60 days as mortgage rates are at all time historic lows.
Free Delaware First Time Home Buyer Seminars Every Month in Newark, Delaware and Dover Delaware. Click the link below for complete schedule and to registrer:
Each participate will recieve a Free Credit Scoring Handbook, Free Homebuying Handbook, and an opputunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar.You will also learn importance of credit in buying a home and learn valueable 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.Your presenter is the author of the new book, Your Guide to Buying Your First Home in Delaware.The Seminar is being held at The Seminar is being held at The Sheraton Hotel at 1570 North DuPont Highway, Dover, DE 19901Seminar is from 6:30 PM till 8:30 PM. To register for the seminar, please call 302-703-0727. You can also e-mail me at DelawareMortgages@yahoo.com or you can register online at www.delawarehomebuyerseminar.com For a Complete list of seminars visit www.DelawareMortgageLoans.net/seminars
John R. Thomas – Certified Mortgage Planner
Primary Residential Mortgage, Inc.
NMLS # 38783
302-703-0727 DE Office
610-960-3109 PA Office
410-412-3319 MD Office
Delaware mortgage rates weekly update for the week of April 30, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE for a Delaware Mortgage Loan.
Delaware mortgage rate weekly update by John R. Thomas
Delaware mortgage rates once again ended the week at all time historic lows as the bond market responded to the bad economic news released last week. The first report that moved the market last week was the New Home Sales Report which fell 7.1% in March 2012 with only 328,000 units, it was 353,000 units in February 2012. Inflation was seen as higher in the short term because of high energy costs but Feds see it being moderate in the longer terms so not concerned which helped the bond market.
The Federal Reserve also failed to mention a possible QE3 in the Federal Open Market Committee Meeting. The GDP for 1st quarter of 2012 was much lower than expected at 2.2% which is down from 3% in fourth quarter of 2011. This is very disappointing news for strength of economy which also helped boost mortgage bonds. The crisis in Europe over Spain is also weighing on the markets and is another support for higher bond prices. All of this translates into low mortgage interest rates.
I would recommend LOCKING in this extremely low Delaware mortgage rates. If you are looking to purchase or refinance a home in Delaware, call us at 302-703-0727 and we can give you a free mortgage planning appointment or you can APPLY ONLINE.
Each participate will receive a Free Credit Scoring Handbook, Free Home Buying Handbook, and an opportunity to meet with a certified mortgage planner to be pre-approved to buy a home at the seminar. You will also learn 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 Sheraton Hotel in Towson, Maryland from 10:00 AM till 12:00 PM. Register by calling 410-412-3319. You can also e-mail me at jthomas@primeres.com. You can register online by clicking the Registration link below:
APPLY ONLINE today to be pre-approved for a mortgage to buy your first home in Maryland. Primary Residential Mortgage is an approved lender for the Maryland CDA Program
John R. Thomas
Certified Mortgage Planner – FHA, VA & USDA Specialist – NMLS – 38783
Primary Residential Mortgage, Inc.
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 DE Office
610-906-3109 PA Office
410-412-3319 MD Office http://www.prmidelaware.com/
Delaware mortgage rate weekly update for the week of April 23, 2012 by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. Call 302-703-0727 for a free mortgage planning consultation or APPLY ONLINE for Delaware Mortgage Rate Quote. John is the branch manager for Primary Residential Mortgage and the author of the book, Your Guide to Buying Your First Home in Delaware.
Delaware Mortgage Rate Weekly Update by John R. Thomas with Primary Residential Mortgage
Delaware mortgage rates remained at all time record lows last week. My advice is to LOCK your Delaware mortgage interest rate to take advantage of these record low rates. Corporations have been reporting very good earnings which could move the bond market lower if continues this week which would move mortgage rates higher.
mortgage rates in Delaware were able to again touch record lows because of the following economic news that was mortgage bond friendly:
Intial Jobless Claims came in at 386,000 higher than the expected 375,000
Existing Home Sales and Housing Starts were lower in March
Empire Manufacturing Index came in Lower along with Philly Fed Index came in Lower
Europe back in headlines with concern now over Spain’s ability to pay down its debt
Now is the best time to refinance your Delaware mortgage loan with many special programs such as HARP 2.0 for refinancing underwater homeowners, FHA Streamline Refinances, and VA Interest Rate Reduction Refinances. It is also a great time to purchase a new home or even a second home with interest rates at all time lows and home prices having dropped by as much as 30-50% in some areas. Call 302-703-0727 for a free mortgage planning appointment or APPYLY ONLINE.
The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs.
Each participate will receive a Free Credit Scoring Handbook, Free Home Buying Handbook, and an opportunity to meet with a certified mortgage planner to be pre-approved to buy a home at the seminar. You will also learn 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 The Christiana Hilton Hotel at 100 Continental Drive, Newark, 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 302-703-0727. You can also e-mail me at jthomas@primeres.com. You can register online by clicking the Registration link below:
APPLY ONLINE today to be pre-approved for a mortgage to buy your first home in Delaware. Primary Residential Mortgage is an approved lender for the Delaware Bond Program through DSHA.
John R. Thomas
Certified Mortgage Planner – FHA, VA & USDA Specialist – NMLS – 38783
Primary Residential Mortgage, Inc.
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 DE Office
610-906-3109 PA Office
410-412-3319 MD Office http://www.prmidelaware.com/
DSHA First Time Home Buyer Mortgage Bond Loan Update for April 17, 2012 – DSHA sent out 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.
If you are buying in New Castle County then you have other options for first time home buyer programs through New Castle County. New Castle County has the following programs:
These programs will allow you to file an extension for 2011 and still participate in the program. If you would like to apply for any of these program call 302-703-0727 or you can APPLY ONLINE.
John R. Thomas
Ceritified Mortgage Planner – NMLS 38783
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office
Delaware mortgage rates weekly update for week of April 16, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Advice on floating or locking your Delaware mortgage interest rate and update on the latest financial news affecting mortgage rates. Call 302-703-0727 to schedule a free mortgage consultation or APPLY ONLINE for Delaware Mortgage Loan.
Delaware mortgage rate weekly update with John R. Thomas
Delaware mortgage rates once again have touched all time lows as the mortgage bond market has been able to recover over the last 2 weeks after a Three week sell off. The big interest rate mover last week were the two reports on inflation which showed inflation subdued. The PPI (Producer Price Index) was released and came in at expectations which was great news. The PPI is a measure of wholesale inflation which measures the cost to produce goods and services. The CPI (Consumer Price Index) was also released last week and came in at expectations as well which was also good news. The CPI came in at 2.3% and this measures inflation at the consumer level.
If inflation does pick up this would be bad news for mortgage bonds and could force rates higher. The other report that helped moved mortgage bonds lower was the release of the initial jobless claimes for the week of April 7th which showed 13,000 more claimes and rose the claims to 380,000. This was the highest number this year and shows that the economy is not very strong. Adding to this negative news for the economy was the crisis in Europe that has continued with now spotlighting the problems in Spain.
If you would like to schedule a free mortgage planning consultation to discuss the purchase of a home or the refinance of an existing home please call 302-703-0727 or you can fill out a Delaware mortgage loan application online.
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 Office APPLY ONLINE NOW!
Primary Residential Mortgage, Inc. Delaware Mortgage Company Primary Residential Mortgage is a Mortgage Company in Delaware providing Delaware Mortgage Loans, Delaware Mortgage Rates, and Delaware First Time Home Buyer Programs from a Local Mortgage Planner You Can Trust. 302-703-0727 Phone.
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John R. Thomas:
I am a Delaware native who has been actively involved in the Mortgage and Finance industries for over 10 years. Call me at 302-703-0727 APPLY NOW
I am a Delaware native who has been actively involved in the Mortgage and Finance industries for over 10 years. Call me at 302-703-0727