Buy a Home
Homeownership Loans
The Delaware Mortgage Program offers 30-year, fixed-rate mortgages at or below standard market rates, paired with down payment and closing cost assistance to help qualified buyers save more over time.
We work with a variety of loan types, including conventional, FHA, VA, and USDA, so you can choose the option that fits your situation best. No matter where you are in your homebuying journey, Housing Delaware is here to help you take the next step with confidence.
Loan Options
Housing Delaware offers two first mortgage loans. The qualifications are nearly identical — the difference is whether you must be a first-time homebuyer.
Welcome Home
First-time homebuyers
Designed for first-time homebuyers, this program offers below-market interest rates to help you buy with confidence.
Qualifications
- First-time homebuyer
- Minimum credit score of 620. (Applicants with credit scores of 659 or below must participate in housing counseling.)
- Income and sales price limits apply
Open Door
First-time and repeat buyers
Open Door expands homeownership opportunities for both first-time and repeat buyers.
Qualifications
- Open to first-time and repeat buyers
- Minimum credit score of 620. (Applicants with credit scores of 659 or below must participate in housing counseling.)
- Income and sales price limits apply
Down payment and closing costs assistance
Welcome Home and Open Door each pair a Delaware Mortgage Program first mortgage with a choice of down payment and closing costs assistance options.
Smart Start Home Loan Welcome Home Open Door
First mortgage loan with no down payment and closing costs assistance.
First State Home Loan
Zero-interest second mortgage equal to 3% of the first mortgage loan amount for down payment and closing costs assistance.
Welcome Home Open Door
Keys4You Home Loan
Zero-interest second mortgage equal to 4% of the first mortgage loan amount for down payment and closing costs assistance.
Welcome Home Open Door
Take5 Home Loan
Zero-interest second mortgage equal to 5% of the first mortgage loan amount for down payment and closing costs assistance.
Welcome Home only
Diamond in the Rough Home Loan
Minor repairs needed? This loan is for you. Must qualify for the FHA 203(k) limited program. Zero-interest second mortgage equal to 5% of the first mortgage loan amount used for down payment and closing costs assistance.
Welcome Home only
Deferred payment on all down payment and closing costs options
No monthly payment required. Payment is deferred until the following events (whichever comes first): refinance, sale of home, transfer of title, or property is no longer used as a primary residence.
Income limits
Income limits are based on your household’s size and the county you are purchasing your home in.
Welcome Home income limits
| County | 1 or 2 Person Households | 3 or More Person Households |
|---|---|---|
| New Castle | $122,700 | $141,105 |
| Kent & Sussex | $111,400 | $128,110 |
Open Door income limits
| County | 1 or 2 Person Households | 3 or More Person Households |
|---|---|---|
| New Castle | $147,240 | $184,050 |
| Kent & Sussex | $133,680 | $167,100 |
Purchase price limits
Maximum purchase prices for single-family homes financed through the Delaware Mortgage Program.
| County | Maximum Purchase Price |
|---|---|
| New Castle | $659,385 |
| Kent & Sussex | $566,354 |
Targeted areas
Targeted areas are specific locations identified to help expand homeownership opportunities. These areas are designated based on community needs and may offer additional flexibility or benefits for homebuyers. Targeted areas matter because if you purchase a home in a targeted area, you may be eligible for higher income limits, sales price limits, and flexible program requirements.
Use the FFIEC Geocoding & Mapping System to determine whether the home you’re interested in is located in a targeted area.
Targeted area Census Tracts
New Castle County: 0006.02, 0019.02, 0021.00, 0023.00, 0029.00, 0030.02
Kent County: 0425.00
Sussex County: 0505.03, 0507.11
Welcome Home income limits in targeted areas
| County | 1 or 2 Person Households | 3 or More Person Households |
|---|---|---|
| New Castle | $147,240 | $171,780 |
| Kent & Sussex | $133,680 | $155,960 |
Purchase price limits in targeted areas
| County | Maximum Purchase Price |
|---|---|
| New Castle | $805,916 |
| Kent & Sussex | $692,211 |
Questions about this program?
Contact the Housing Delaware homeownership team to get started or connect with a participating lender.
- (302) 739-4263
- Toll-free (888) 363-8808
- Send an email