Delaware Mortgage Loans | First-Time Buyers, DSHA & Construction Programs

John R. Thomas is a Delaware mortgage lender and branch manager with Primary Residential Mortgage, Inc., helping homebuyers and homeowners across Delaware navigate mortgage loans with clarity and confidence. Delaware mortgage loans include FHA, VA, USDA, Conventional, construction and renovation programs, as well as state-sponsored options through the Delaware State Housing Authority (DSHA). This page outlines the programs available to buyers purchasing in Delaware.

Work With a Delaware Mortgage Lender Who Teaches the Process

Buying a home in Delaware requires more than choosing a rate. You need to understand credit guidelines, income calculations, debt-to-income ratios, and down payment options.

As a Delaware mortgage loan officer with over 20 years of experience, John R. Thomas helps buyers:

• Understand eligibility before applying
• Compare FHA, VA, USDA, and Conventional options
• Review down payment assistance opportunities
• Plan construction and renovation projects
• Evaluate investor financing strategies

Our approach is education-first. That’s why we host monthly homebuyer seminars and consumer workshops across Delaware.

Delaware First-Time Home Buyer Programs

Delaware offers several programs designed to help first-time buyers.

Options May Include:

• FHA Loans
• Conventional 3% Down Programs
• USDA 100% Financing (eligible rural areas)
• VA Loans for eligible veterans
• Delaware Down Payment Assistance

These programs vary based on:

• Credit score
• Income limits
• Property location
• Household size

We review your full profile before recommending a strategy.

DSHA Loan Programs in Delaware

The Delaware State Housing Authority (DSHA) offers state-backed assistance programs that may provide down payment and closing cost support for eligible borrowers.

Programs may include:

• DSHA Down Payment Assistance
• DSHA FHA 203(k) with 5% Assistance
• DSHA Homes for Grads
• Other state bond programs

Eligibility is based on:

• Income limits
• Purchase price limits
• Primary residence requirement
• Homebuyer education completion

Not every borrower qualifies for DSHA programs, and they are specific to Delaware purchases.

We help you determine whether a DSHA program fits your situation.

Construction & Renovation Loans in Delaware

Building or renovating a home in Delaware requires specialized financing.

We offer:

• FHA One-Time Close Construction Loans
• VA One-Time Close Construction Loans
• USDA Construction Loans
• Conventional Construction Loans
• FHA 203(k) and Conventional Renovation Loans

We guide you through:

• Builder approval
• Construction draw process
• Appraisal requirements
• Timeline expectations

Delaware Investor & Non-QM Loans

For real estate investors purchasing in Delaware, we offer:

• DSCR Investor Cash Flow Loans
• No Ratio DSCR Loans
• Short-Term Rental DSCR Loans
• Bank Statement Loans
• 1099 & P&L Only Loans
• Asset Qualifier Loans

These programs are commonly used by investors who:

• Own multiple properties
• Have self-employed income
• Prefer qualification based on property cash flow

Serving All Delaware Counties

We work with buyers and investors across:

• New Castle County
• Kent County
• Sussex County

Both in-person and virtual consultations are available.

Not Buying in Delaware?

If you are purchasing in another state, view our full Mortgage Loan Programs page for national loan options.

(Link to /loan-programs/)

FAQ Section for Delaware Mortgage Loans