JoAnn Moore's (simplyhomeloans) Blog

Mortgage and Lending - The Mortgage Market of Delaware
A few inspections are required on the USDA 100% Guaranteed Rural Housing Home Loans. An appraisal will be needed. Also, a clean water test if on its own water supply. If the appraiser states in their report that the septic system seems to be in working order, an inspection is not needed. Also, if...
There are many advantages of the USDA 100% Guaranteed Rural Housing Home Loan. Here are a few: No down payment; a true 100% loan product. No cash reserves required. Generous income limits. Very low monthly mortgage insurance. No purchase limits. Sellers may pay all closing costs. Gift funds are a...
To access eligible properties for USDA 100% Guaranteed Rural Housing Home Loans, go to:,gov/eligibilty You simply enter an address and find out if the property is in an eligible area. Usually areas that have a population less than 25,000 are eligible.   
Gift funds are allowed on USDA 100% Guaranteed Rural Housing Home Loans. They need to be identified separately, as a gift, even if the funds have already been deposited into a liquid asset account by the borrower. Gift funds are not to be considered as reserves. Gift funds may be used for closing...
What are the income limits on the USDA 100% Guaranteed Rural Housing Home Loans in Delaware? In Kent and Sussex Counties the income limit on a 1- 4 person household is $78,200. On a 5-8 person household it is $103,224. In New Castle County, the income limit on a 1-4 person household is $90,050. O...
USDA 100% Guaranteed Rural Housing Home Loans are easier to qualify for with a minimum credit score of 640. Some lenders do allow 620 but there can't be any derogatory credit issues for the last twelve months. Also, some lenders allow no credit scores but the borrower must have several alternativ...
USDA 100% Guaranteed Rural Housing Home Loans offer an affordable way to purchase a home. Borrowers who cannot qualify for a conventional loan may qualify for the USDA home loan. A conventional loan in this definition is one which the borrower: Is able to put 20% down Is able to pay all closing c...
The USDA 100% Guaranteed Rural Housing Home Loans have an up front funding fee and a monthly mortgage insurance premium. The up front funding fee is 2.041% of the base loan amount. The monthly mortgage insurance amount is the total loan amount times .30% divided by 12 months. This amount is recas...
  Georgetown, Delaware is fortunate to have a very nice, well stocked anitique store. The merchandise is displayed in such charming ways. The upstairs is full as well. I always enjoy checking out their window displays when riding or walking by. It is so fun to spend an hour or two inside taking a...
Georgetown Family Restaurant is open for breakfast, lunch and dinner Monday through Saturday. Open until 3:00 on Sundays. The staff is very friendly, prices are quite affordable and food is delicious. The menu is quite extensive. They have lunch and dinner specials and an early bird selection fo...

JoAnn Moore

Home Loans in Delaware
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