Tag Advantage 4 Grant

Tag Advantage 4 Grant

DSHA Advantage 4 Grant Down Payment Program

John Thomas May 10, 2017 Tags:
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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.

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