Tag New Castle County DPS

Tag New Castle County DPS

New Castle County DPS Program – Delaware First Time Home Buyer Down Payment Assistance Program

John Thomas July 14, 2012 Tags: , , , , ,
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New Castle County DPS Program

New Castle County DPS Program

New Castle County DPS Down Payment Assistance Program is a Delaware down payment assistance program for First Time Home Buyers to help with down payment and/or closing costs. The program will lend Delaware first time home buyers up to $5,000 that is recorded as a second mortgage loan against the property being purchased.  The New Castle County DPS Program loan is an 8-year loan at 0% interest but payments are deferred for the first three years.  In order to qualify for the program, you must use a Delaware approved mortgage company.  Call 302-703-0727 to apply for the program or to get more information. Keep Reading...

New Castle County Down Payment Programs – Update May 10, 2010

John Thomas May 10, 2010 Tags: , , ,

New Castle County in Delaware has two popular programs to help First Time Home Buyers purchase homes in Delaware. The first program is the New Castle County Down Payment Settlement Program (DPS). This will lend up to $5,000 toward closing costs and down payment. The program has been for anywhere in New Castle County but effect July 1, 2010, it will no longer be able to be used in the City limits of Wilmington.

The Second Program from New Castle County is the Homebuyer Incentive Program (HIP), this program will lend up 3.5% of the purchase price up to $10,000 for a down payment in targeted neighborhoods only. The program has run out of money and not able to be used right now. The program will be funded on July 1, 2010, so there is a waiting list to get on for the funds currently. Keep Reading...

Delaware First Time Home Buyer Programs – New Castle County Programs

John Thomas June 23, 2009 Tags: , , , , ,
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Delaware First Time Hom Buyer Programs

New Castle County Delaware has Two First Time Home Buyer Programs:

New Castle County Down Payment Settlement Program (DPS)

The New Castle County Down Payment Settlement Program is a Delaware first time home buyer program that gives first time home buyers deferred payment loans for up to $5,000 to cover customary settlement costs and required down payment to purchase a home located in New Castle County, Delaware.  The loan is an 8-year loan that requires no payment for the first 3 years of the loan.  The loan is then repaid over the last 5 years at an interest rate of 3%.  If a loan is paid off in the first 3 years then no interest is charged.  The residence must be borrower’s primary residence throughout the duration of the loan.  Call 302-703-0727 to apply for the program or APPLY ONLINE Keep Reading...