DSHA announced temporary guideline changes to their home buyer assistance programs for home buyers in Delaware. Effective with new reservations for their Preferred Plus Down Payment Assistance Program and their Base Rate Program their will be stricter guidelines for qualifying for the program if you are getting a FHA Loan, VA Loans or a USDA Loan. If you have questions please call the John Thomas Team at 302-703-0727 or you can APPLY ONLINE
Anybody with a qualifying credit score below 700 will have a maximum Debt to Income Ratio (DTI) of 45% in order to be eligible for the program. The minimum credit score to apply for the Delaware State Housing Authority Program is still 620 but there are now restrictions to the maximum DTI if credit score is below 620 starting in May 2020.