Click To View Links

Need a Real Estate Coach?

First Time Home Buyer Grants

Sifting through Delaware first time home buyer grants to purchase your first home? Find the best grants, programs for home buying in Delaware and other down payment assistance available to you below.

Before you obtain a grant and apply for a mortgage, you really need to understand how your credit profile looks.

You want to know your credit score and determine if you need credit repair before proceeding.

Unfortunately, without a credit score of at least 640, you will not be able to qualify for those low down payment programs. You want to be able to qualify for these programs and with a higher credit score, you'll find a better interest rate as well.

So if your score is low, work on that first.

Exciting and sometimes mind-boggling purchasing a home can be! However, don't let yourself become overwhelmed with the process.

It is my plan to give you some useful information in this article about home mortgage grants which will help you along the way.

If you need help estimating your mortgage closing costs, check out this FREE closing costs calculator by clicking here.

Sifting through all the programs and finding the one that fits your needs is like getting a home as a gift with the money to afford it!

delaware first time home buyer grants

Delaware Grants for Home Buying

To begin with, the State of Delaware does offer a Delaware first time home buyer grants program for its residents. This is good news because not all states are able to offer assistance to first time home buyers.

The state agency which maintains Delaware's first time home buyer grant program is the Delaware State Housing Authority.

Delaware offers one type of grant. This grant is called the "Advantage 4 Grant." Applicants who qualify can receive up to 4% of their mortgage to be used for the down payment and closing costs. There are some limitations for qualifying for this grant. So be sure to do your homework to see if this will fit your needs. 

There are a couple of other programs, although they are not Delaware first time home buyer grants, but may be very helpful as well. For example the SMAL (Second Mortgage Assistance Loan) is a program designed to help with monies for the down payment or closing costs.

It is a loan so you have to pay it back and there are requirements to meet inorder to qualify. But for those who are eligible, you can creatively arrange a zero down home loan. Also, it is a deferred loan which means you don't have to pay it back until you have paid off the first mortgage, sell, or refinance the home. Remember though, it is a two part process and must be used with the DSHA's First-Time Homebuyer Program.

Another cool program is the ROC (Rebuilding our Comminities) program. It provides help with the monies needed for the down payment or closing costs when buying a foreclosed or abandoned home. Once again it has to be used with the DSHA's First-Time Homebuyer Program. There are requirements you must meet to qualify and the property you want to purchase must meet some qualification too.

Additionally, there is another program that can offer a different kind of money savings. It is called the "Delaware First-Time Homebuyer Tax Credit." This program allows you to deduct a portion of the interest you pay on the mortgage directly from your taxes, putting money back into your pocket. Pretty awesome! Definitely worthwhile to look into. 

To learn about these various options and their requirements or limitations visit Delaware State Housing Authority.

Federal Home Mortgage Grants

In addition, the federal government offers grant assistance for first time home buyers in Delaware. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.

Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.

Additional Home Buying Grants

Another website I would recommend that you view is Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.

The FHA loan products are very flexible and work well with other assistance programs. Would you like to know where you stand with their requirements? Learn what those requirements are by clicking here.

Perhaps a grant is not available in your state. Or you do not qualify for one. Don't get discouraged. If you still want to save money, check out this page that discusses the zero down payment program.

Would you like some help? Perhaps a personal coach to guide you through the process is what you're looking for. For free coaching, fill out the questionnaire here. Then you will be contacted and offered the assistance you seek.

Is there more mortgage information for you? Yes, if you want to learn more about other mortgage options you may want to consider the several home mortgage information articles listed here. Take your time and scan the various subjects and become an educated buyer.

Once again please take a look at your credit score. So many that are looking for grants miss out because they haven't cleaned up their credit first. Credit plays an important part in qualifying for these awesome programs. If your credit needs work, investigate what is necessary to bring that score up. It will be well worth your effort!

If you click on the above link and go to the bottom of the page, you will find a link to obtain your free credit scores. Find out where you stand before you proceed further. 

Delaware First Time Home Buyer Grants Support

Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.

Click here for additional information on Delaware First Time Home Buyer Grants.

This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.

Please tell others about this FREE information. Everybody else on the web charges for this kind of stuff!!

Leave Delaware First Time Home Buyer Grants and return to the State Lists main page.

Go to House Buyer Solutions Home Page.

Recent Articles

  1. Other Mortgage Down Payment Assistance - Money Gifts

    Aug 07, 18 03:02 PM

    Mortgage down payment assistance in the way of money gifts can be used. Find the best information on how to use these gifts for your mortgage.

    Read More

  2. Money For Down Payment

    Aug 07, 18 03:01 PM

    Need money for down payment? Find the coolest ideas for loan assistance to get you that important mortgage down payment here!

    Read More

  3. Best FHA Home Loans | Free FHA Mortgage Information Found Here

    Aug 01, 18 07:54 AM

    Looking for the best FHA home loans? Click here now, discover how to pick the FHA mortgage that fits your personal situation best.

    Read More

Buyer Programs

fha loans

The FHA Loan Products

Home Buyer Grants

zero down home loans

Zero Down Home Loans

Follow Us On Twitter

follow me on twitter