Delaware Mortgage Loans

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Home Prices across most of the U.S. fell for a second straight quarter at the end of last year.  According to one report, home prices in both Wilmington and Dover declined in the fourth quarter of 2007.  Nationwide studies suggest the market hasn’t hit bottom yet.

This means it is a great time to be looking to buy a home.  Even challenged credit borrowers still have an excellent oppurtunity to buy a home using FHA or VA loans.  The Federal Government just raised the loan limits for New Castle County to $420,000 for 2008 for FHA loans and $417,000 for both Sussex and Kent.  FHA and VA loans will also overlook some blemishes on your credit as long as you can verify your income and meet there guidelines for Debt-to-Income.

If you would like more information on the current housing market in Delaware or on FHA and VA loans, please feel free to call me at 302-368-7132 Ext.12 and ask for John Thomas or send an e-mail to DelawareMortgages@yahoo.com