Delaware Keys4You Home Loan
Delaware State Housing Authority offers Keys4You Home Loan to home buyers in Delaware: as much as 4% of the home loan amount, as a deferred loan.
- Amount
- As much as 4% of the home loan amount
- Type of help
- A loan with deferred repayment
- Only first-time buyers
- No
- Your credit score
- At least 620
How is Delaware Keys4You Home Loan paid back?
It's a deferred loan at 0% interest. Repayment is due when you sell, refinance, move out or hand the home to another person.
With a deferred loan there's nothing to pay monthly; the whole sum comes due once you sell, refinance or finish paying the first mortgage.
Who qualifies for Delaware Keys4You Home Loan?
- The limit changes with county and household size: $111,400 to $141,105 under DSHA's Welcome Home loan, or $133,680 to $184,050 under its Open Door loan.
- Being a first-time buyer isn't required.
- You need a credit score of 620 or more.
- A Delaware Mortgage Program first mortgage comes with it, through Welcome Home or Open Door.
Your county and household size set most limits. Use our HUD income limits tool to see your area's median income and how your household compares.
How to apply for Delaware Keys4You Home Loan
- The Delaware State Housing Authority sends this money through approved lenders, so you go through one of them as part of your home loan application.
- The lender reviews your income, credit and the home under the program's rules, then sets the money aside for you.
- At closing, the help goes toward your down payment and closing costs.
See all the rules and if applications are open on Delaware State Housing Authority's page for Keys4You Home Loan. Or choose a lender through the agency's lender list.
Ask a lender about Delaware Keys4You Home Loan
Tell us where you're buying and a lender that works with Delaware's programs can tell you whether Delaware Keys4You Home Loan fits you, and what you could combine with it.
Would you rather not phone? Share your details and the lender will contact you.
More Delaware programs for first-time buyers
- Delaware First State Home Loan:
A deferred loan of up to 3% of the mortgage.
- Delaware Take5 Home Loan:
Deferred loan, up to 5% of the mortgage.
- Delaware Diamond in the Rough Home Loan:
A deferred loan worth up to 5% of the home loan.
- Delaware Home Sweet Home Program:
as much as $12,000, forgivable loan.
- Delaware Diamonds Home Loan:
as much as $10,000, forgivable loan.
Every Delaware first-time buyer program · Down payment help in all states