757-925-1333
tphelps@tidewaterhomefunding.com
Apply Now
Secure Doc Upload
Farmers Bank Home Mortgage Logo

Tim Phelps

NMLS ID 51442

757-925-1333 tphelps@tidewaterhomefunding.com

Blog

Blog Image: Jumbo Loans for Veterans

Jumbo Loans for Veterans

If you are a veteran or a servicemember, you are probably well aware of VA mortgage loans. These loans offer excellent benefits, including no down payment or credit score requirements as well as allowing borrowers to forgo mortgage insurance premiums.  But what happens if you are looking to buy an expensive property or you live in a pricier area of the country, where home prices exceed the standard VA loan limits? Is it still possible to take advantage of VA mortgage financing? Thankfully, the answer is yes! You can apply for a VA jumbo loan. Jumbo Loan Defined A jumbo loan is for a...

October 24th, 2019 | Purchasing a Home, Government Loans, VA Loans, Jumbo Loans for Veterans

Blog Image: Dipping interest rates help single family home permits surge ahead of predictions.

Dipping interest rates help single family home permits surge ahead of predictions.

It’s a numbers game, but it’s one everyone in the real estate and the home building industry watches. While construction of new houses fell more than 9% in September, there is a now a backlog of permits suggesting the dip is simply a brief pause in a real estate market reinvigorated by lower mortgage rates, according to Realtor’s Jacob Passy. He adds that housing starts slid to an annual rate of 1.26 million last month from a revised 1.39 million in August, the government said Thursday, concentrated in new buildings with five units or more that typically get rented. Even t...

October 22nd, 2019 Dipping interest rates help single family home permits surge ahead of predictions.

Blog Image: Pay for a dorm room or buy a condo? Know what your money gets you.

Pay for a dorm room or buy a condo? Know what your money gets you.

So you’re sending your kid off to college. Hats off. But what about housing? Will they live in a dorm, or is there a better alternative outside of him or her renting a room in a house? According to Bankrate, Janna Herron, many parents bypass university housing or off-campus renting altogether and buy a condo instead — all with the goal of recouping their investment after graduation. The price of housing and meals can vary depending on where you live and what school your child attends. Students at public schools can expect to pay an average of $8,887, and...

October 17th, 2019 Pay for a dorm room or buy a condo? Know what your money gets you.

Blog Image: Can I Refinance with Bad Credit?

Can I Refinance with Bad Credit?

Mortgage interest rates have tumbled in recent months, making refinancing more appealing than ever. As of the latest Mortgage Bankers Association survey, refinance request volume is up 180% over last year. There may be some homeowners who would like to take advantage of the interest rate savings but worry they may not qualify because of poor credit. If you are part of this crowd, here are several ways to make refinancing a reality: Learn Your Options Start with an open discussion with a lender. Let them know you do not have the best credit but that you would like to refinance. They have ...

October 9th, 2019 | Credit, Refinancing a Home, Can I Refinance with Bad Credit?