Pats Loans

Great news from DSHA especially for our first time home buyers 😁👏🎉 With interest rates climbing back to around 7%, this is a big advantage to first time buyers in Delaware able to utilize these programs with interest rates ranging from 5.625%-6.25%. Ask me how to qualify!

More good news from the Mortgage Lending World as we head into 2025! We can now lend up to a loan amount of $806,500 and still be a conforming loan. This gives homebuyers more options when choosing a type of financing and down payment. Call me today with any questions!

NMLS #1371733
[email protected]
302-287-5392

FHFA Announces Conforming Loan Limit Values for 2025 | FEDERAL HOUSING FINANCE AGENCY The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2025. In most of the United States, the 2025 CLL value for one-unit properties will be $806,500, an increase of $39,950 (or 5.2....

****Delaware Homeowners**** It is important to understand the updated Property Tax Assessments that have raised a lot of concern and confusion with homeowners. The intent is to remain revenue neutral but with the new assessment we will see increases, decreases and many staying the same depending on the change in their assessment number. The assessment numbers went up 400-600% from what I have seen but the tax increase is only for those with an assessment increase of 509.2% or more. The purpose of conducting the reassessment is to remedy a Delaware Chancery Court ruling in 2020 that found property taxing systems in each of the state's three counties to be unconstitutional and not in compliance with Delaware law. The tax amounts for 2025 will not be known until closer to the end of the fiscal year but likely no later than 7/1/2025 which is typically when tax bills are generated.

Great news as Delaware State Housing Authority (DSHA) will be rolling out their 10k Grant program for a limited time beginning December 1st. If you or anyone has questions, feel free to contact me. Julianna Lee, Madelyn Hulsey and I will be hosting a home buyer seminar 12/5. Talk about great timing for buyers to attend! Seminar details below;

Thursday December 5th at 6PM
1908 Capitol Trail Ste 3 Newark De 19711
RSVP to [email protected]

Congratulations on your first home purchase Tyler. You were a pleasure to work with and the wait is finally over! Best of luck moving in. Thank you Ryan Sommer for all your help and finding this off market gem. Thanks Wolfe & Associates LLC for another great closing.

Congratulations on your home purchase Keith! As if buying your first home wasn't enough, you actually got cash back at the closing table!! Thank you for your trust throughout the process and I wish you the best. Thank you Rhonda Ruffin for all of your help and Ward & Taylor, LLC for a smooth closing.

Pats Loans Mortgage Company Licensed in 21 states and ready to help! Whether you're buying a home or refinancing your current one, reach out anytime with questions—we’re here to make the process easy.

It's official!! DSHA homeownership grants are back after much success last year. If you are a first-time buyer or repeat buyer there are options for you. Contact me today with any questions. Funds are limited so let's chat!

Great news from FHA!! Starting March 20, 2023 FHA monthly mortgage insurance will be reduced from .85% to .55%. What does this mean for you? Call to find out and see what you can be approved for as the spring market continues to heat up!!
302-287-5392
[email protected]