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.