Exploring Homebuyer Grant Programs in Delaware: Opportunities and Fun Facts

If you’re considering buying a home in Delaware, you’re in luck! The state offers several homebuyer grant programs that can provide financial assistance, making your dream of homeownership more attainable. Let’s explore some of the key programs available and learn a few fun facts about the First State along the way.

Call today to start your Delaware Homebuyer Grant (888) 882-1058

Homebuyer Grant Programs in Delaware

1. Delaware State Housing Authority (DSHA) Programs
   • DSHA Preferred Plus Program: This program offers down payment and closing cost assistance in the form of a forgivable second mortgage. Depending on your income and the loan type, you could qualify for up to 5% of your loan amount. The loan is forgiven after ten years as long as you remain in the home.
   • First-Time Homebuyer Tax Credit: The DSHA offers a Mortgage Credit Certificate (MCC) program that allows first-time homebuyers to claim a federal tax credit of up to $2,000 annually, reducing your tax liability and saving you money in the long term.
2. New Castle County Down Payment and Settlement Assistance Program
   • This program provides up to $5,000 in assistance for down payment and settlement costs for eligible first-time homebuyers purchasing in New Castle County (outside the city of Wilmington). To qualify, you must meet certain income and home price limits.
3. Sussex County First-Time Home Buyer Program
   • Sussex County offers up to $10,000 in assistance for first-time homebuyers. This program can be used for down payment and closing costs. Applicants must complete a homebuyer education course and meet specific income limits to qualify.
4. City of Wilmington Homebuyer Assistance Program
   • The City of Wilmington offers a grant of up to $10,000 for down payment and closing costs to first-time homebuyers purchasing within the city limits. The program is available to those who meet income eligibility requirements and complete a homebuyer counseling program.

Fun Facts About Delaware

While you’re exploring the opportunities for homeownership in Delaware, here are some fun facts about the state:

• The First State: Delaware was the first state to ratify the U.S. Constitution on December 7, 1787, earning its nickname “The First State.”
• Small but Mighty: Delaware is the second smallest state in the U.S., but it has a big impact, especially in the business world. The state is known as a corporate haven, with more than half of U.S. publicly traded companies incorporated there.
• No Sales Tax: Delaware is one of the few states in the U.S. with no sales tax, making it a shopper’s paradise.
• Beautiful Beaches: Delaware boasts some of the most beautiful beaches on the East Coast, including Rehoboth Beach and Bethany Beach, which are popular destinations for residents and tourists alike.

Delaware is a fantastic place to call home, with plenty of financial support available for homebuyers. Whether you’re drawn by the rich history, the corporate opportunities, or the stunning coastlines, Delaware offers something for everyone. Take advantage of these homebuyer grant programs and make your dream of owning a home in the First State a reality!

Find out what Grant Programs are Available in Delaware by calling (888) 882-1058