Delaware Kiss Your Landlord Goodbye Program
$37,720
About the Program
How Can I Get Started?
Learn the first steps to take in the home-buying process. With affordable mortgage loans and down payment assistance, DSHA can help first-time homebuyers or those looking to upgrade or downsize from their current home.
Homeownership Loans
A DSHA mortgage is a 30-year, fixed-rate loan with interest rates at or below the standard market rate for qualified buyers. That means you get a better deal! Our loans work through standard mortgage programs, including conventional, VA, FHA and USDA mortgages. And it doesn’t matter if you’re buying for the first time or have owned a house before.
First-Time Homebuyer Program
MUST be a first-time homebuyer to qualify for this program. A first-time homebuyer is someone who has not had ownership of a primary residence in the previous three years.
- Minimum credit score of 620. (Applicants with credit scores of 659 or below must participate in housing counseling).
- Note: Welcome Home Loan Program income calculation will be used for those on the Note and/or Mortgage only. Income limits are based on household size.
Purchase Price Limits for Single Family Homes:
- Non-Targeted Areas 1 Unit:
- New Castle County: $617,241
- Kent & Sussex Counties: $544,232
- Targeted Areas 1 Unit:
- New Castle County: $754,406
- Kent & Sussex Counties: $665,173
Programs available under Welcome Home:
- Smart Start
- Unassisted first mortgage – No down payment or closing cost assistance.
- First State Home Loan
- 3% of the final loan amount for down payment and closing costs.
- Principal will be deferred until the following events: refinance, sale, transfer of title, property is no longer the borrower(s) primary residence (whichever comes first).
- Diamond in the Rough
- 5% of the final loan amount for down payment and closing costs.
- Principal will be deferred until the following events: refinance, sale, transfer of title, property is no longer the borrower(s) primary residence (whichever comes first).
- Must qualify for FHA 203(k) Limited Program.
Note: For Welcome Home FHA 203(k) limited loans, total acquisition & rehabilitation amount may not exceed these purchase prices.
Repeat and First-Time Homebuyer Program
If a borrower exceeds income limits for Welcome Home, this program is an option for them.
- Minimum credit score of 620. (Applicants with credit scores of 659 or below must participate in housing counseling).
- Purchase Price Limits for Single Family Homes:
- Non-Targeted Areas 1 Unit:
- New Castle County: $617,241
- Kent & Sussex Counties: $544,232
Targeted Areas 1 Unit:
- New Castle County: $754,406
- Kent & Sussex Counties: $665,173
Learn more about first-time programs:
Targeted Areas
Income limits and purchase price limits for homes located in targeted areas are significantly higher than the limits for homes in “non-targeted” areas. Also, the first-time homebuyer requirement is not applicable for homes in targeted areas, which allows repeat buyers to purchase homes in targeted areas. Check if the home you want to purchase is located in a targeted area here.
More information about target areas, house prices, and income levels is available here:
Explore Communities Across Delaware
You've learned about the program. Now explore communities across Delaware to find the place that best fits your lifestyle, priorities, and goals.
On the Delaware page, you'll find:
- LookyLOO Reviews of Delaware Cities
- Neighborhood Guides
- Local Reviews
- Schools
- Lifestyle
- Save Delaware Cities to Your Movebook