What is “Kiss Your Landlord Goodbye”?

Delaware State Housing Authority wants to help Delawareans kiss their landlords goodbye with our homeownership loan and down payment assistance programs! DSHA offers mortgage financing for Delaware homebuyers at or below market interest rates. All mortgages are 30-year fixed-rate loans. Borrowers can also use DSHA’s Preferred Plus program for down payment and closing cost help.


Who is eligible for a homeownership loan with DSHA?

The programs are designed to assist Delawareans with low to moderate incomes. Buyers must not exceed our maximum household income limits for the county they are purchasing in. Buyers must have a minimum credit score of 620. The maximum loan amount a buyer can qualify for is $417,000 with no maximum purchase price.


Is it just for first-time homebuyers?

Not at all! This is a common misconception about our homeownership programs. Many of our programs are also available to repeat buyers. If you already own a home but you need more space or need to downsize to a smaller home, DSHA can help.


Do I have to buy a home in a certain area?

Applicants for DSHA’s Homeownership Loans can purchase a home anywhere in Delaware.


I don’t have enough saved for a down payment. Can DSHA help me?

Yes! In addition to our homeownership loan programs, DSHA also has down payment and closing cost assistance available for homebuyers. Through our Preferred Plus program, all applicants using a DSHA Homeownership Loan can use our flexible, customizable down payment and closing cost assistance, which provides a no-interest second-mortgage loan of 2-5% of your overall loan amount. The percentage you select will determine the rate of the loan and amount of assistance.


What if I’m not quite ready financially to purchase a home?

If your credit score isn’t quite where it should be or you haven’t budgeted yet to purchase a home, DSHA and $tand By Me is here to help! Through free financial coaching, we can help you build your credit score, reduce debt or learn valuable budgeting tools to help you achieve the dream of homeownership. Visit www.standbymede.org for more info!