Gov. Jack Markell, state housing officials and real estate industry representatives gathered in Clayton March 22 for the announcement of $250 million in bonds that are now available for home loans. According to the Delaware State Housing Authority, these bonds will assist an estimated 1,500 future homebuyers in Delaware.

 


Gov. Jack Markell, state housing officials and real estate industry representatives gathered in Clayton March 22 for the announcement of $250 million in bonds that are now available for home loans.

According to the Delaware State Housing Authority, these bonds will assist an estimated 1,500 future homebuyers in Delaware.

The announcement was made in the Scottsdale model home in Clayton’s Providence Crossing development off of Rt. 300.

For first-time homebuyers who purchase an existing home, DSHA offers 30-year fixed-rate mortgages as low as 4.75 percent with zero points and a deferred second mortgage up to $10,000 for down payment and/or closing cost assistance.

In order to stimulate the local real estate market, DSHA is setting aside up to $25 million at reduced interest rates of 4.25 percent for first-time homebuyers purchasing existing new construction, or building a new home.

Low- and moderate-income Delawareans who have not owned a home within the past three years are eligible to apply for any of the loans affiliated with DSHA. To qualify, eligible families can earn up to $89,470 and the maximum purchase price for a home is up to $366,990.

For more information, interested homebuyers can contact the DSHA at (302) 739-4263 or 1-888-363-8808. Details are also available at www.DeStateHousing.com.