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Joan Fitzgerald Mortgage Consultant

Joan Fitzgerald Mortgage Consultant

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Joan Fitzgerald Mortgage Consultant

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Presentation Transcript

  1. Joan FitzgeraldMortgage Consultant 2012 Governor’s Conference on Housing Homeownership Trends and Outlook

  2. Types of Mortgages • Conventional • No income limit with 3% down or more • FHA • No income limit • USDA • Income limits for 1- 4 person household: • New Castle County - $93,450 • Kent County - $78,200 • Sussex County - $78,200 • VA • No income limit

  3. Today’s Challenges Qualifying for Credit Short Sales/Foreclosures

  4. Mortgage Revenue Bond Welcome Home Loans 3.00% FHA-VA-USDA 3.25% FHA-VA-USDA when using the SMAL or ROC 3.25% Conventional 3.50% Conventional when using the SMAL or ROC

  5. Mortgage Revenue Bond Home Again Loan 3.25% FHA-VA-USDA 3.50% FHA-VA-USDA when using the SMAL or ROC 3.50% Conventional 4.125% Conventional when using the SMAL or ROC

  6. Mortgage Revenue Bond Loans for Heroes 2.50% FHA-VA-USDA 2.75% FHA-VA-USDA when using the SMAL or ROC 2.75% Conventional 3.00% Conventional when using the SMAL or ROC

  7. Second Mortgage Assistance Loan (SMAL) This zero interest loan provides down payment and closing cost assistance up to $10,000

  8. Rebuilding Our Community (ROC) Forgivable zero interest second mortgage loans • Amount of $25,000for down payment and closing costs assistance • For the purchase of foreclosed, abandoned (90 days) single-family housing in qualified census tracts. • Forgiveness period of 10 years.

  9. Community Seconds Check with a Housing Counselor for availability New Castle County City of Dover City of Newark City of Wilmington

  10. Joan Fitzgerald Mortgage Consultant 88 Lantana Drive Hockessin, DE 19707 Office: 302-235-6405 Email: joan.fitzgerald@prufoxroach.com Web: joanfitzgerald.tridentmortgage.com NMLS ID: 137244