1) Setting your dashboard for income and savings goals
2) Calculating your number of closing and leads per month to reach your goals
3) Designing your marketing plan to generate the leads you need each month
4) Creating a flowchart for your real estate business
5) How to hold yourself accountabile
6) much more
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.DelawareMortgageLoans.net
Delaware mortgage rate weekly market update for the week of February 13, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, Delaware at 248 E Chesnut Hill Rd, Newark, DE 19713. You can APPLY ONLINE for a Delaware mortgage loans or you can call 302-703-0727 to schedule a free mortgage consultation.
Delaware mortgage rates started the week off higher as a result of the economic news that was released last week. a look at the bond market shows mortgage bonds a have broken the trend line higher and have started trading lower. This means Delaware mortgage rates are trading higher.
I would recommened LOCKing your Delaware mortgage rate if you are closing in the next 30 days to lock in record low interest rates.
Do forget to check out the Free First Time Home Buyer Seminar Saturday February 18, 2012 in Newark, Delaware. You can register online at Delaware Home Buyer Seminars.
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.DelawareMortgageLoans.net
Chris Rowe is hired by Primary Residential Mortgage on February 6, 2012 as mortgage planner and Realtor Educator for the Newark, Delaware Branch office. You can call 302-703-0727 to schedule a free mortgage planning appointment with Chris or you can APPLY ONLINE.
Chris Rowe NMLS 143755
Primary Residential Mortgage welcomes Chris Rowe to be a part of the team in the Newark, Delaware branch. Chris is an expert on FHA 203k Rehab Loans and Fannie Mae Home Path Renovation Loans. Chris will be partnering with branch manager John R. Thomas to host monthly Realtor Success Seminar Series. The series will focus on helping Realtors grow their business.
John and Chris will also be partnering together to expand the home buyer education program that is presently sponsored by Primary Residential Mortgage. PRMI currently holds free monthly first time home buyer seminars in Newark at the Christiana Hilton Hotel. Chris and John will expand the program by hosting a seminar every month in Dover, Delaware as well beginning in March 2012. You can register for the first time home buyer seminar by calling 302-703-0727 or register online at www.DelawareHomeBuyerSeminar.com
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.DelawareMortgageLoans.net
Delaware Mortgage Rates Weekly Update for the Week of February 6, 2012 from Primary Residential Mortgage's Branch Manager John R. Thomas. If you would like to have a free mortgage planning consultation call 302-703-0727 or APPLY ONLINE.
Mortgage rates in Delaware started off the week higher because the jobs report released last week came out much higher than anticipated which caused the stock market to rally. What is good for stocks is usually bad for bonds so mortgage backed securities had a steep sell off on Friday on the news which caused lenders to re-price for the worse.
I would recommend LOCKING your Delaware mortgage rate if you are closing in the next 1-30 days. If you are closing in more than 30 days you can float.
If you would like to apply for a Delaware home loan to purchase a home or refinance your current home loan then call 302-703-0727 or APPLY ONLINE.
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.DelawareMortgageLoans.net
In December 2011, Congress reached a last-minute deal to fund the payroll tax cut extension. The payroll tax extension will provide a 2% tax reduction for individuals earning up to $106,800, so the tax extension will be very helpful for many Americans who are struggling during these tough economic times. But like so many things in our tangled economy, there's a flip side. In this case, the tax cut deal has a rippling effect that will impact the mortgage world.
Here's what's happening and what it means to home loan rates:
What is happening and why? To put it bluntly, the passage of the payroll tax cut extension is being funded via a mandate to Fannie Mae and Freddie Mac (the nation's largest providers of mortgage money) to increase their guarantee fees or "g-fee's" by at least 10 basis points on the rate. So rather than giving a par rate of 4.00%, for example, the par rate is now increased by at least 10 basis points, or approximately 4.10%. But as you probably know...home loan rates are priced and offered in .125% increments, so this will most likely impact the consumer by .125% in rate. Whether you agree or not on the politics behind this cost being passed along to folks who are taking out mortgages, the Congressional Budget Office recently estimated that the increase will ultimately pay for about $35.7 Billion of the cost of the payroll tax extension.
What exactly is this "g-fee"? The guarantee fee or "g-fee" is an amount charged by mortgage-backed securities (MBS) providers, like Freddie Mac and Fannie Mae, to help protect against credit-related losses in the overall mortgage portfolio. In other words, it acts a lot like insurance and helps lower the overall risk...which means home loans can be offered at terrific interest rates to borrowers that have good – but not perfect – credit.
What exactly is the impact of the rate increase? For example, for a $200,000 home loan, the increased g-fee (assuming a .125% increase in rate) would equate to $250 more per year in interest, or $7,500 more over 30 years. Someone buying or refinancing a home can certainly choose to buy down the cost with cash up front – but most folks will not do this.
Who will this impact? The change will impact all new borrowers of Fannie Mae and Freddie Mac loans. The bill will also impact Federal Housing Administration (FHA) loans by increasing the annual mortgage insurance premium that borrowers pay by one-tenth of a percent.
When will it start? Officially, the increase to guarantee fees will begin on April 1, 2012. However, the increase is already starting to be seen in rate sheets right now, since home loans being originated now will likely not be closed, pooled and securitized until April...and therefore will need the increased g-fee priced in earlier.
How long will this be in effect? The increase will be effective through October 1, 2021.
The bottom line is that the g-fees will be going up...and this will impact homebuyers looking to obtain a home loan through Fannie Mae, Freddie Mac and FHA.
The good news is that home loan rates are still at historic lows right now, and it's a great time to purchase a new home or refinance. If you or anyone you know has any questions, please call or email!
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.Delawaremortgageloans.net
The National Association of Realtors® surveys homebuyers and sellers each year to uncover housing trends and monitor changes taking place in the industry. This year's report highlights a number of trends that haven't been seen in years. Here are just 11 highlights from the 2011 report.
1. In 2011, 37% of homebuyers were first-time buyers – which was down from 50% in 2010.
2. Last year, 88% of homebuyers used the Internet to search for a home. That number was down slightly from a high of 90% in 2009.
3. The typical homebuyer searched for 12 weeks and viewed 12 homes.
4. The number of buyers who purchased their home through a real estate agent or broker climbed to 89% – a share that has steadily increased from 69% in 2001.
5. Nearly 1 out of 4 buyers said the application and approval process was "somewhat more difficult" than expected...and 16% reported it was "much more difficult" than expected.
6. About half of home sellers traded up to a larger and more expensive home...and 60% traded up to a new home.
7. The top 3 factors influencing neighborhood choice were: the quality of the neighborhood, the convenience to job, and the overall affordability of homes.
8. The typical seller lived in their home for 9 years. That number has increased from 6 years in 2007.
9. Although 61% of sellers said they reduced their asking price at least once, the average home sold for 95% of the listing price.
10. Only 10% of sellers sold their homes without the assistance of a real estate agent. Of those people, 40% knew the buyer prior to the sale.
11. The typical "for sale by owner" home sold for $150,000 compared to $215,000 for the average agent-assisted home sale.
If I can answer any questions for you about the housing market in our area, call or email me anytime.
If you would like a free mortgage planning consultation please call 302-703-0727 or APPLY ONLINE NOW.
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.Delawaremortgageloans.net
If you have questions about obtaining or qualifying for a mortgage loan in Middletown, Delaware then Call John Thomas at 302-703-0727 to have all your questions answered whether you are inquiring about purchasing a home in Delaware or refinancing your current home in Delaware. You can also APPLY ONLINE for a Delaware mortgage loan.
If you have questions about obtaining or qualifying for a mortgage loan in Middletown, Delaware then Call John Thomas at 302-703-0727 to have all your questions answered whether you are inquiring about purchasing a home in Delaware or refinancing your current home in Delaware. You can also APPLY ONLINE for a Delaware mortgage loan.
City of Wilmington HAP program has been suspended indefinitely and doesn't appear that it will come back. The HAP program provided up to $10,000 for down payment and closing cost assistance for purchasing vacant homes in the zip codes 19801, 19802, & 19805. The City of Wilmington has given any people with current reservations of funds 60 days from the reservation to close the loan or they lose the money.
The City of Wilmington has stated that they will not be renewing the program and have directed prospect home buyers in Wilmington, Delaware that need down payment assistance to look at the State of Delaware mortgage revenue bond program which is commonly called the Delaware Bond Program. This program provides up to $10,000 as a a second mortgage for first time home buyers only that meet the income restrictions for the program. If you would like more information on the Delaware First time home buyer program through the state of Delaware you can call John R. Thomas at 302-703-0727, John is the branch manager for Primary Residential Mortgage which is one of the preferred lenders authorized for the Delaware Mortgage Revenue Bond Program for first time home buyers as well as the Delaware SMAL loan for down payment assistance.
If you need to be pre-approved for a Delaware mortgage loan or Delaware first time home buyer program, call 302-703-0727 or APPLY ONLINE NOW.
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.DelawareMortgageLoans.net
Delaware Mortgage Rates Weekly Market Update for the Week of January 30, 2012 by John R. Thomas branch manager for Primary Residential Mortgage in Delaware. APPLY ONLINE NOW or call 302-703-0727 for free mortgage consultation for the purchase or refinance of a home in Delaware.
Delaware Mortgage Rates are still at all time historic lows so now is great time to purchase or refinance a home. The Federal Reserve said they now expect interest rates to stay low through out 2014.
John R. Thomas Certified Mortgage Planner - NMLS 38783 Primary Residential Mortgage 248 E Chestnut Hill Rd Newark, DE 19713 302-703-0727 Office www.Delawaremortgageloans.net
Delaware Mortgage loans for the purchase or refinance of homes in Delaware. Advice on Delaware mortgage rates and loan programs. Delaware FHA Loans, Delaware USDA loans, Delaware VA loans, and Delaware Reverse Mortgages. John R. Thomas is the author of the book, Your Guide to Buying Your First Home in Delaware.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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