Joan FitzgeraldJoan FitzgeraldMortgage ConsultantMortgage Consultant

2012 Governor’s Conference on Housing2012 Governor’s Conference on Housing

Homeownership Trends and Homeownership Trends and OutlookOutlook

Types of MortgagesTypes of MortgagesConventional

No income limit with 3% down or moreFHA

No income limitUSDA

Income limits for 1- 4 person household: New Castle County - $93,450 Kent County - $78,200 Sussex County - $78,200

VA No income limit

Today’s ChallengesToday’s Challenges

Qualifying for Credit

Short Sales/Foreclosures

Mortgage Revenue BondMortgage 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

Mortgage Revenue BondMortgage 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

Mortgage Revenue BondMortgage 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

Second Mortgage Assistance Second Mortgage Assistance Loan Loan

(SMAL)(SMAL)

This zero interest loan provides down payment and closing cost assistance up

to $10,000

Rebuilding Our Community Rebuilding Our Community

(ROC)(ROC)

Forgivable zero interest second mortgage loans Amount of $25,000 for 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.

New Castle County

City of Dover

City of Newark

City of Wilmington

Community SecondsCommunity Seconds

Check with a Housing Counselor for availability

Joan FitzgeraldJoan Fitzgerald

Mortgage Consultant Mortgage Consultant 88 Lantana DriveHockessin, DE 19707Office: 302-235-6405 Email: joan.fitzgerald@prufoxroach.comWeb: joanfitzgerald.tridentmortgage.com

NMLS ID: 137244