DSHA Advantage 4 Grant Down Payment Program
The DSHA Advantage 4 Grant down payment assistance program is a grant of up to 4% of the first mortgage loan amount to be used for down payment and/or closing costs for Delaware home buyers that qualify for a DSHA first mortgage loan. The grant Does Not have to be paid back after closing on the home purchase. You can apply for the Advantage 4 Grant Program by calling 302-703-0727 or APPLY ONLINE
What are the qualifications for a DSHA Advantage 4 Grant?
In order to qualify for the Advantage 4 Grant you must meet the following requirements:
- Must be under the maximum household income limit of $97,900
- All applicants must have a 640 middle FICO credit score
- Must be purchasing the home as your primary residence
- The Maximum Total Debt to Income Ratio (DTI) is 45%
- Must use DSHA first mortgage loan to purchase the home
- Non-occupant co-borrowers are NOT allowed
The first mortgage loan with DSHA can be a FHA Loan, a VA Loan, a USDA Rural Housing Loan or a Conventional Mortgage Loan. You can also use the Mortgage Credit Certificate (MCC) Program along with the Advantage 4 Grant but must be under the lower income limits for the MCC Program.