I just did my third visit to the local TV show "The Congo Hour" on September 13, 2009. I was invited to speak about the First Time Home Buyer Programs in Delaware. I have been on the show twice before with Realtor Lakeisha Cunningham from RE/MAX associates. This show we brought one of our special clients Kizzie & Erol Lee.
Kizzie's mother saw us on the show before and had her daughter Kizzie call me to help her buy a home. Kizzie had thought she would never qualify for a home loan. Kizzie and her husband Erol were newly married. They thougth they wouldn't be able to buy a home because Erol is a recent immigrant from Jamaica.
We got Kizzie and her husband qualified for a home loan and they are closing on September 30, 2009 on their first home. They are also going to recieve the $8,000 tax credit for buying a home before December 1, 2009.
It was a great show and Kizzie and Erol were great. I want to thank Keya and Trippi for having us on the show. Lakeisha and I have been invited back again in October to help get the word out on the $8,000 first time home buyer tax credit.
If you would like information on qualifying for a Delaware home loan for the purchase or refinance of a home, please call me at 302-588-3665 or send an e-mail to DelawareMortgages@yahoo.com
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.
The Univeristy of Delaware played Delaware State Univeristy for the First State Cup at the University of Delaware's Tubby Raymond Stadium. Delaware took the lead and at one point the score was 21-3. Delaware State was able to score 2 touch downs in the last 5 minutes but still lost 27-17. This games was much close than the first meeting of the two teams last year in the playoffs.
For more information on the play by play visit Univeristy of Delaware official site at http://www.bluehens.com/sportsinfo/football/fb09-delstate.html
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.
The RESPA law has changed and took effect for applicaiton taken August 1, 2009 or after. There are three big changes that took effect on August 1, 2009. These changes can have a dramatic effect on closing times if you end up working with the wrong lender. The lenders most effected are the big banks such as Wells Fargo, Bank of America, CitiMortgage, and Chase. These banks have to completely change their business models. Other lenders are not as effected because their business models are already setup to work under the new changes.
Here are the changes
1) Cannot close a loan for at least 7 business days from application date. Applicaiton happens when client signs loan docuemnts & diclosures if in person or 3 business days from mailing date.
2) Lenders cannot collect any upfront fees before official applicaiton date.
3) If APR on loan changes by more than 1/8 of percent then lender must re-disclose the new rate and wait 3 business days from time of receipt of new APR. So if mailing, could actually take 6 days because have to wait 3 business days for mail to get to client.
The probelms arise for the big banks because they don't have effect systems to monitor the APR change until they draw docs for closing. The old law allowed you to disclose APR change at the settlement. Which didn't give clients any warning their APR changed before closing.
We at Primary Residential Mortgage have always re-disclosed APR changes when any fees actually changed from the original estimate. This has always been done and hasn;t caused any delays in closing under the new law.
If you have questions or need a home loan for the purchase or refinance of a home, please feel free to call me at 302-588-3665 or send an e-mail to DelawareMortgages@yahoo.com
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.
There will be a Free Delaware First Time Home Buyer Seminar on Saturday October 3, 2009 at 10:00 AM and again at 1:00 PM. The seminar will last about 2 hours and each participate will be able to recieve 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. Learn how to get $8,000 tax credit for buying a home. in 2009 That is a check for $8,000 from the IRS to you at tax time just for buying a home! The best thing is you don't have to ever pay the $8,000 back!!
Each participate will recieve a Free Audio CD on Homebuying 101, Credit Scoring Handbook, 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.
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 302-588-3665 and ask for John Thomas. You can also e-mail me at DelawareMortgages@yahoo.com
For a Complete list of seminars visit www.DelawareMortgageLoans.net/seminars
John R. Thomas - Certified Mortgage Planner - FHA & USDA Specialist
Primary Residential Mortgage, Inc.
Delaware Mortgage Rates have a very volatile day today. The rates were slightly worse to open from yesterday. Then the bond market improved and some lenders re-priced for the better. The end of the day saw the bond market sell off dramatically and lenders all re-priced for the worse. So rates ended the day an 1/8 to 1/4 worse today.
My advice to my clients was to lock in yesterday and today before traders sold off. Fridays are typically days when traders take profit after a nice run up in the bond during the week. Rates are still very low so now is still a great time to refinance or purchase a new home.
If you need help or advice with your Delaware Mortgage Rate for a Delaware FHA loan, Delaware VA loan, Delaware USDA loan, or a Delaware Conventional loan, please feel free to call me at 302-588-3665 or send an e-mail to DelawareMortgages@yahoo.com
If you are a Delaware First Time Home Buyer then you should register to attend a Free First Time Home Buyer Seminar. The next one is September 26th at the Christiana Hilton Hotel in Newark, DE. There are two sessions 10 AM till noon and again from 1:00 PM till 3:00 PM. If you would like to register to attend one of these events, call 302-588-3665 or send an e-mail to DelawareMortgages@yahoo.com.
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage, Inc.
As a Certified Mortgage Planner, I help people achieve their dreams and goals by assisting them in designing financial strategies that work for each client to accomplish financial freedom.
I am truly passionate about my profession, and the result is that nearly 100% of my business is by referral from satisfied clients, trusted financial advisors and the most experienced realtors in Delaware. My mission is to carefully guide you through the entire home loan process, so that you feel confident as you make choices about the many options available for your financing strategy. With many years and a wide range of experience in the mortgage industry,my dedicated team stands ready to assist each and every step of the way.
You only think about home financing a few times during your life ~ I think about it every single day. It's your home and your future. It's my profession and my passion. I am ready to work for your best interest.
A Certified Mortgage Planner is unlike a traditional loan officer. As a mortgage planner, my role is to help you integrate the loan that you select into your overall long and short-term financial and investment plan, to minimize taxes and interest expense and improve cash flow. My team is dedicated to delivering superior mortgage advice and world-class customer service to you. Our goal is to take such great care of you and your loan that we earn your loyal business and your referrals to family and friends. Our success was built by referral...one happy client at a time.
I am able to direct lend as well as broker loans, so will be able to find the right lender with the right product. Being able to broker is extremely important in todays market because if you are with just a direct lender, that lender may be out of business before your loan closes, for example American Home Mortgage right here in Delaware left hundreds of people desparately searching for a loan when they closed their doors.
I am certified in FHA Loans, Reverse Mortgages, VA loans, USDA Rural Housing Program, First Time Home Buyer Programs, Commercial Lending, Construction Loans, Bankruptcy Buy-outs, Divorce settlements, and hard money lending.
Here is a recommendation from a top financial planner
"In my line of work (financial advisor) I often have the need of brining in a mortgage expert to work with my clients. I have recommended John many times, and have always been impressed with his level of expertise and have never been disappointed with his level of responsiveness to a particular client's need. Not only can he find the right product, but he will educate you on all the options and help you to understand the decision you are making." March 10, 2008
Top qualities: Great Results, Personable, Expert
Douglas MacGray, J.D., C.F.P.
hired John as a Mortgage Consultant in 2,006, and hired John more than once
This section, using real life examples, details how Mortgage Coach, my unique mortgage solution software, separates me from the rest of the mortgage industry by providing information to clients that other mortgage lenders don't think to offer; thereby, helping my clients make more informed decisions about the financing options available to them.
Case Study 1
A client is open to refinancing his mortgage to lower his rate, when rates fall below a certain level. With the Rate Watch Report, I can e-mail him/her (on a monthly basis) a comparison of current market rates and what the monthly savings would be. The client can then make more informed decisions based on current market data.
Case Study 2
A client wants to refinance his loan to lower his monthly payments. However, he's not sure consolidating his credit debt into his mortgage makes financial sense. With the Debt Free Analysis, I can show the client how paying consumer debt through refinancing can be beneficial to him and what those benefits total in monthly savings.
Case Study 3
A client doesn't know what mortgage rate/cost structure is the most beneficial for their situation. Unlike what you may have heard from the news media, The Lowest Rate is Not Always The Best Loan. With my Total Cost Analysis, I can provide a comparison of 3 to 4 rate/cost scenarios, allowing the client to pick the one that best fits their lifestyle and future plans.
Case Study 4
A client is purchasing a property with less than 20% down payment (which typically requires Private Mortgage Insurance or PMI), but doesn't know the options available to him/her. With my PMI Comparison Analysis Report, I can show that a 1st and 2nd loan combination, instead of PMI (Private Mortgage Insurance), will reduce monthly payments, increase tax deductions and increase equity.
Case Study 5
A client is concerned about living paycheck-to-paycheck and is considering either ending monthly investment in their retirement account/investments or canceling an insurance policy to free up monthly cash. With our Equity Repositioning Report I can show them how refinancing and continuing to contribute to their investments can not only increase their monthly cash flow but will also help them invest more fully in their financial future.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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