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Conventional loans in Delaware

Quick answer

Conventional loans in Delaware allow as little as 3% down (about $9,804 on a $326,800 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Delaware

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical DE home value$326,800
3.5% down on typical home$11,438
20% down on typical home$65,360
Avg. effective property tax0.53%/yr (~$144/mo)
Income for typical home (31% rule)$99,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Delaware programs pair with Conventional loans?

  • Preferred Plus: A first mortgage paired with down payment and closing cost assistance for eligible buyers.
  • First-Time Homebuyer Tax Credit: A mortgage credit certificate that can reduce federal income taxes each year you keep the loan.

Details and current limits: Delaware State Housing Authority (DSHA).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Delaware cities

Conventional in WilmingtonConventional in DoverConventional in NewarkConventional in MiddletownConventional in BearConventional in GlasgowConventional in BrooksideConventional in HockessinConventional in SmyrnaConventional in MilfordConventional in Pike Creek Valley

Frequently asked questions

Yes. Conventional loans are available statewide in Delaware through approved lenders, subject to county loan limits where they apply.

Often yes. Delaware State Housing Authority (DSHA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Delaware.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.