First Time Home Buyers
Information

  






<

First Time Home Buyer

 Programs in Delaware


Complete First Time Home Buyer Programs Available in Delaware.


The state agency created by the legislature in Delaware to offer first time home buyer programs is the Delaware State Housing Authority. Here is a summary of the current first time home buyer programs that are offered:

Single Family Mortgage Revenue Bond Program


Commonly referred to as the First-Time Home Buyers Program, this statewide program provides first mortgage financing at below-market interest rates to low- and moderate-income Delaware homebuyers who have not owned a home in the past three years. Delaware banks and other financial institutions may apply to DSHA to become approved lenders to originate below-market interest rate first mortgages. Banks and financial institutions can also purchase the mortgage revenue bonds in order to make the proceeds available at below-market rates to low- and moderate-income first-time homebuyers. "Assisted Loan" mortgage money is available throughout the state. The "assistance" comes in the form of a grant equaling 3% of the mortgage amount which is available to pay closing costs.



For complete details on this first time home buyer program available to Delaware residents, visit the Delaware State Housing Authority website.

Se also the First Time Home Buyer Grants page.


Best Lender For First Time Home Buyer Loans

Unfortunately, some lenders do not like to work with first time home buyers (due to not having a track record), and prefer instead to only provide mortgages to people who have previously owned a home. If you do not need help with the down payment and are not in need of any state program, search for a lender that has great rates, an easy online application, and welcome first time home buyers. Additionally find one that has not been as severely hurt by the subprime mortgage crisis and are still approving the majority of applications.

 

Other First Time Home Buyer Programs & Resources


   
Housing Not Yet At Bottom
 Real Estate continues to lose value. One expert predicted the subprime financial crisis in 2008 and is now calling for an Economic Depression in 2011 -2012. Learn how he is helping others protect and greatly increase their wealth in spite of the financial crisis. Read more>>>

Contact Us | Privacy Policy | Terms of Use | Mortgage Terms Glossary | First Time Home Buyers Loan | First Time Home Buyer Blog | Site Map
Copyright 2002 - 2006  All Rights Reserved.
FIRST TIME HOME BUYER