Primary Residential Mortgage, Inc.

Yes, the John Thomas Team with Primary Residential Mortgage has several loan options for people who have filed a bankruptcy to purchase or refinance. The two typical bankruptcies for consumers are the Chapter 7 and the Chapter 13. The chapter 7 is a discharge of all debt and you don't have to pay it back. The chapter 13 is a payment plan. Different loan types different wait periods for being able to qualify. For example if in a chapter 13, you can get a mortgage after making 12 on time payments and getting permission from the trustee. Give us a call today at 302-703-0727 and we can review your options with you.

The Delaware First Time Home Buyer Tax Credit Program is another name for the Delaware Mortgage Credit Certificate (MCC) Program which offers eligible first time home buyers in Delaware a Federal Tax Credit of up to $2,000 a year for every year that they have the mortgage loan. You will receive up to 35% of the total interest you pay each year on your mortgage as a Federal Tax Credit capped at $2,000. You can only enroll in the program during the mortgage process when you purchase your first home. Your lender MUST be an approved Delaware State Housing Authority Lender and approved to offer the program. The John Thomas Team with Primary Residential Mortgage is approved to offer this program for Delaware first time home buyers. Give us a call at 302-703-0727 to enroll in the Delaware MCC today!

Yes, you can purchase the land and fund the construction of your new home all in one loan with one closing. This is called a One Time Close Construction Loan. There are three options for OTC Construction Loan: FHA One time Close Construction Loan, VA One Time Close Construction Loan, and a Conventional One Time Close Construction Loan. These options are much better than a traditional two time close construction loan as save on closing costs and don't have to re-qualify again for the permanent loan. Give the John Thomas Team with Primary Residential Mortgage call today to get started at 302-703-0727.

Yes, the John Thomas Team with Primary Residential Mortgage offers FHA Loans for purchase or refinance of homes in Delaware, Maryland, New Jersey, Pennsylvania, and Virginia. You can put as little as 3.5% down on a FHA Loan when purchasing a home and can refinance for a rate/term refinance up to 97.75% loan to value. You can also do a FHA loan for a cash-out refinance up to 80% Loan to value. We also offer FHA streamline refinances to lower your rate and payment without any income verification or appraisal. FHA loans offer low down payment loans and also allow client with credit scores as low as 500 to apply. Give the John Thomas Team a call today to work with the Best Mortgage Lender at 302-703-0727.

Yes, the John Thomas Team with Primary Residential Mortgage offers USDA Rural Housing Loans for purchasing eligible properties in Delaware, Maryland, New Jersey, Virginia and Pennsylvania. USDA Loans offer 100% financing in one loan with loan mortgage insurance compared to a FHA loan. You can also refinance a current USDA loan to a new USDA loan as long as you are still under the household income limits for the county. Get started today with a pre-qualification for a USDA Loan by giving us a call at 302-703-0727.

Yes, the John Thomas Team with Primary Residential Mortgage appreciates our veterans serving their country and is able to offer VA Loans for purchasing or refinancing a home. You can borrower 100% financing on a Veteran Loan when purchasing a home with no monthly mortgage insurance. Call us today to get started.

Yes, the John Thomas Team with Primary Residential Mortgage offers many different loan options for purchasing or refinancing investment properties in Delaware, Maryland, Virginia, New Jersey and Pennsylvania. You can purchase with as little as 15% down on an investment property.

Yes, the John Thomas Team with Primary Residential Mortgage does offer Reverse Mortgages for refinancing your current home or purchasing a new home. The Reverse Mortgage is a great tool to tap into your home's equity. Give us a call today to learn more or to get started.

Yes, the John Thomas Team with Primary Residential Mortgage offers construction loans to buy a lot and build your brand new home with a custom home builder. We offer this product as a one time close construction loan. We have a Conventional One Time close construction loan, a FHA one time close construction loan, and a VA one time close construction. Call us today to learn more or to get started.

Yes, the John Thomas Team with Primary Residential Mortgage offers renovation loans for the purchase or refinance of a home. Renovation loans are also called Rehab loans. The repairs are financed into the loan and are completed by a contractor after the closing of the loan. We offer a Conventional HomeStyle Renovation Loan, a FHA 203k Renovation Loan, and a VA Renovation Loan. Call the John Thomas Team today for help with a Rehab or Renovation loan.

Yes the John Thomas Team with Primary Residential Mortgage offers down payment assistance program which are commonly called DPAs. You do not have to be a first time home buyer in order to qualify for a down payment assistance program. So if you need help with down payment and/or closing cost assistance, The John Thomas Team has got your covered.

Yes, the John Thomas Team with Primary Residential Mortgage offers 100% Cash-Out VA Home Loans for Eligible Veterans. We are a VA lender.

Yes, the John Thomas Team with Primary Residential Mortgage offers DSCR loans for purchasing investment properties on 1-20 unit properties as well as mixed use. The DSCR Investor Loan does not verify the borrower's income but lends on the rental income of the property. We are a DSCR Mortgage Lender.

No, You do not need 20% down payment to purchase a home, you can buy a home with as little as 0% down with a VA Loan or a USDA Loan. You can do as little as 3% down on a conventional loan. You can do 3.5% down on FHA and combine it with a down payment assistance program for 3.5% to have a total of 0% down. So there are plenty of options to purchase a home with less than 20% down.

Yes