DSHA: Opportunity for First-Time Homebuyers

Delaware Governor: Jack Markell

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Written on: April 15th, 2010 in Effective & Efficient Government Guest Posts

I invited Anas Ben Addi, Director of the Delaware State Housing Authority, to update us on a program that we launched a few weeks ago. We want to create jobs, foster a healthy housing market and help families. By making loans available in a tight credit market, we stimulate the economy while facilitating homeownership for Delawareans. – Jack Markell

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Our goal is to continue to provide affordable housing opportunities and help support a strong, local economy. A 2009 study by the National Association of Home Builders estimated that the construction of 100 single-family homes generates $21.1 million in local income, $2.2 million in taxes and other revenue for local government, and 324 local jobs.

Delaware State Housing Authority (DSHA) has made available $250 million in low-rate mortgages to First-Time Homebuyers. Currently, these mortgages are at a rate of 4.75%, 0 Points 30-year fixed. The rate drops down to 4.25%, 0 points 30-year fixed, if you are buying a new construction home.

Since the program announcement, three weeks ago, we have funded close to 100 mortgages totaling $18 million.

So who is eligible? If you haven’t owned a home in the past three years, if you are making up to $89,000, and looking to buy a house priced at no more than $366,000, you definitely should contact us!

To start the process, call DSHA at 888-363-8808 or visit our website at www.destatehousing.com

Helping you to achieve your dream of homeownership is our priority — Good Luck!