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First-Time Buyer loans in Delaware

Quick answer

First-time buyers in Delaware can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from Delaware State Housing Authority (DSHA). On a $326,800 home, 3% down is about $9,804.

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

First-Time Buyer loan snapshot for Delaware

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
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 First-Time Buyer 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).

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in Delaware cities

First-Time Buyer in WilmingtonFirst-Time Buyer in DoverFirst-Time Buyer in NewarkFirst-Time Buyer in MiddletownFirst-Time Buyer in BearFirst-Time Buyer in GlasgowFirst-Time Buyer in BrooksideFirst-Time Buyer in HockessinFirst-Time Buyer in SmyrnaFirst-Time Buyer in MilfordFirst-Time Buyer in Pike Creek Valley

Frequently asked questions

Yes. First-Time Buyer 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.