Delaware First State Home Loan

Delaware State Housing Authority offers First State Home Loan to home buyers in Delaware: help can equal up to 3% of the mortgage, as a deferred loan.

Amount: Help can equal up to 3% of the mortgage
Type of help: Loan you pay back later
Only first-time buyers: No
Your credit score: At least 620

How is Delaware First State Home Loan paid back?

This is a deferred loan with a 0% rate. If you sell, refinance, leave the home or give it to someone else, you repay it.

You make no monthly payment on a deferred loan; selling, refinancing or paying off the first mortgage makes the full balance due.

Who qualifies for Delaware First State Home Loan?

The limit depends on county and household size: $111,400 to $141,105 through DSHA's Welcome Home, or $133,680 to $184,050 through Open Door financing.
Being a first-time buyer isn't required.
Your credit score must be at least 620.
You get it alongside the Delaware Mortgage Program first mortgage, through Open Door or Welcome Home.

Your county and household size set most limits. Our HUD income limits lookup shows the median income in your area and where your household sits.

How to apply for Delaware First State Home Loan

You apply through an approved lender with your home loan, and Delaware State Housing Authority provides this help through that lender.
Your lender compares the home, your credit and your income with the program's rules and sets the money aside on your behalf.
At closing, the money helps cover your down payment and the closing costs you owe.

Check the full rules and current application status on Delaware State Housing Authority's page for First State Home Loan, or choose a lender from the agency's participating lender list.

Ask a lender about Delaware First State Home Loan

Tell us where you're buying and a lender that works with Delaware's programs can tell you whether Delaware First State Home Loan fits you, and what you could combine with it.

Call 866-602-7460

Prefer not to phone? Share your information and the lender will get in touch.

More Delaware programs for first-time buyers

Delaware Keys4You Home Loan:
A deferred loan can be as much as 4% of the home loan.
Delaware Take5 Home Loan:
A deferred loan can be as much as 5% of the home loan.
Delaware Diamond in the Rough Home Loan:
A deferred loan can be as high as 5% of the mortgage
Delaware Home Sweet Home Program:
A forgivable loan can be up to $12,000
Delaware Diamonds Home Loan:
A forgivable loan can be as much as $10,000.

Every Delaware first-time buyer program · Down payment help nationwide