Delaware Diamond in the Rough Home Loan

Delaware State Housing Authority offers Diamond in the Rough Home Loan to first-time buyers in Delaware: up to 5% of the home loan, as a deferred loan.

Amount: Up to 5% of the home loan
Kind of help: Deferred loan
First-time buyers only: Yes
Credit score: 620 or higher

How is Delaware Diamond in the Rough Home Loan paid back?

Deferred loan: 0% loan. You repay it when you sell, refinance, move out or give the home to someone else.

A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.

Who qualifies for Delaware Diamond in the Rough Home Loan?

By household size: $122,700 to $141,105 in New Castle County, and $111,400 to $128,110 in Kent and Sussex.
Only for first-time buyers (usually no home owned in the past three years).
A credit score of 620 or higher.
It comes with a Delaware Mortgage Program Welcome Home first mortgage; buyer must qualify for the FHA 203(k) limited program.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Delaware Diamond in the Rough Home Loan

Delaware State Housing Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
The lender checks your income, credit and the home against the program's rules and reserves the money for you.
The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Delaware State Housing Authority's page for Diamond in the Rough Home Loan, or pick a lender from the agency's list of participating lenders.

Ask a lender about Delaware Diamond in the Rough Home Loan

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

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

Other first-time buyer programs in Delaware

Delaware First State Home Loan: up to 3% of the home loan, deferred loan.
Delaware Keys4You Home Loan: up to 4% of the home loan, deferred loan.
Delaware Take5 Home Loan: up to 5% of the home loan, deferred loan.
Delaware Home Sweet Home Program: up to $12,000, forgivable loan.
Delaware Diamonds Home Loan: up to $10,000, forgivable loan.

All Delaware first-time home buyer programs · Down payment assistance in every state