Wilmington Delaware Employee Homebuyer Assistance Program

What is the Wilmington Delaware Down Payment Assistance Program?

The Wilmington Employee Homebuyer Assistance Program is a grant program offered by the City of Wilmington where an employee can earn up to $4,000 in down payment and settlement assistance toward the purchase of a home. Homes must be within the City of Wilmington boundaries and meet specific requirements set by the City of Wilmington for their Liver Near Your Work Program. The John Thomas Team can help get you prepared for homeownership with our first time homebuyer programs in Wilmington – call (302) 703-0727 or Apply Online.

Wilmington has designated a portion of its own funding to help its employees buy a home within city limits. This is one of a number of great first time home buyer programs in Wilmington and could potentially put you in a home. Employees that meet the Wilmington City requirements (outlined below) can receive a grant of up to $4,000 (the amount cannot exceed down payment and settlement costs).  The down payment assistance money does not have to be paid back by the employee if they live in the property for 5 years as it is a Delaware down payment grant.

How do I Qualify for the City of Wilmington Delaware Employee Down Payment Assistance Program?

The program has a few restrictions, including:

• You must purchase a home within the City of Wilmington to be Eligible for City of Wilmington Live Near Your Work Grant Program
• You must be a City of Wilmington employee who has finished their probation period
• You must complete Homeowner Counseling with approved Delaware HUD Counseling Agency.
• You may only receive funding once in a five year period
• You must provide a minimum of $1,000 cash contribution toward the total transaction
• You must get a fixed-rate mortgage with no option for cash out
• You must live in the home as your primary residence for a minimum of 5 years.
• Employee will receive a 1099 form from the City for the grant amount and it will be taxable as income.
• Must meet the household income restrictions and be within maximum sales price limit

Once you’re approved, your awarded funding will be reserved for six months after the date of signing. It’s important to take advantage of this within the time frame – funds are based on availability.

What are the household income and sales price restrictions for the City of Wilmington Employee Down Payment Grant?

In order to qualify for the City of Wilmington Live Near Your work (LNYW) program you must meet the household income guidelines and the property must be within the maximum sales price limit outlined below:

Household Income Limits for 2022:

Sales Price Limits for 2018:

What are the Qualifications my Potential Home Must Meet for City of Wilmington Live Near Your Work? Keep Reading...