Primary Residential Mortgage, Inc. Delaware Mortgage Company

Delaware USDA Rural Housing Loans are now subject to a lapse in funding as Rural Development is only issuing “Contingent Conditional Commitments,” subject to the “availability of commitment authority” as there are currently no more funds available for guaranting loans as of October 1, 2011. Therefore most lenders have ceased funding [...]

Delaware USDA Rural Housing Loans will be adding a monthly mortgage insurance premium on all loans effective October 1, 2011.  The USDA announced this change in administrative notice AN 4551 which made the following changes to the Delaware Single Family Housing Guaranteed Loan Program: 1) Upfront Guarantee fee lowered from 3.5% to 2% on purchase [...]

What is a USDA Rural Housing Home Loan? USDA Stand for the United States Department of Agriculture.  The loan is designed to provide financing for borrowers in designated areas who wish to borrower up to 100% of the appraised value.  The loan is guaranteed by the government through the Rural Housing Division of the USDA.  [...]

Delaware USDA Rural Housing Loans – Property Eligibility How do you determine if a property in Delaware is eligible for financing through the USDA Rural Housing Loan program?  You can enter the property address at the following website http://eligibility.sc.egov.usda.gov The address will be displayed on the a map and it will state whether eligible or [...]

The income limits for obtaining a Delaware USDA Rural Housing loan have been increased for 2010.  There are two limitations for applying for a USDA Rural Housing Loan, income limitations and geographical limitations.  The income limitations are county specific.  Delaware has three counties: New Castle County, Kent County, and Sussex County. The income limits are [...]

Can you still get a USDA Rural Housing Loan for the purchase of a home in Delaware even though they have run out of guaranteed funds?  There answer is YES if you call me 302-703-0727, we are still are to provide funding for USDA Rural housing loans for Delaware, Maryland, Virginia and Pennyslvania.  But you [...]

Rural Development which oversees the USDA rural housing loan program will run out of its 2010 funds by sometime in May 2010.  Most lenders have stopped doing the program and have even given false information that the program is out of money.  There is still funds available and lenders can still lend on this program.  [...]

The funds available to guarantee Delaware USDA Rural Housing Loans will run out by the end of April 2010.  Every year USDA will run out of money before the end of its fiscal year in September.  This does not normally affect borrowers because the lenders will lend on a conditional commitment from USDA to gurantee [...]

The Delaware State Housing Authority offers the Delaware mortgage revenue bond program to assist Delaware First Time Home Buyers.  They offer a 3% grant for down payment assistance with one of the programs.  The funds for 2009 have run out on this program so Delaware home buyers can no longer receive the 3% down payment [...]

The income limits for Delaware USDA Rural Housing Loans are based on the number of people in the house and the county that the property is located. New Castle County Maximum Income Limits for 2009 1 Person    2 Person    3 Person   4 Person   5 Person   6 Person    7 Person $61,100     $69,800   $78,550    $87,250    $94,250    $101,200   $108,200 Kent [...]