2012-2013 Delaware Affordable Housing Services Directory
2012-2013 Delaware Affordable Housing Services Directory
2012-2013 Delaware Affordable Housing Services Directory
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DSHA AFFORDABLE HOUSING ASSISTANCE PROGRAMS<br />
2014-2015 <strong>Delaware</strong> <strong>Affordable</strong> <strong>Housing</strong> <strong>Services</strong> <strong>Directory</strong><br />
<strong>Affordable</strong> Homeownership Assistance<br />
As the State of <strong>Delaware</strong>’s <strong>Housing</strong> Finance Agency, DSHA offers several programs to<br />
assist homebuyers throughout the state in the purchase of a home. Please contact a<br />
participating lender to get started today. If you are considering the purchase of a home,<br />
we encourage you to contact a housing counseling agency. The housing counselors listed<br />
on page 18 will walk you through the homebuying process, provide credit counseling, and<br />
even help you determine your affordable price range.<br />
Program Description DSHA Contact<br />
Homeownership Loan<br />
Programs<br />
These statewide programs provide first mortgage financing at<br />
below-market interest rates to qualified homebuyers. (Certain<br />
exemptions may be available to qualified veterans and for<br />
homes located in targeted areas.) Eligibility guidelines vary<br />
according to household size and county of residence. Program<br />
is available only through participating lenders.<br />
Downpayment and settlement assistance grants are also<br />
available.<br />
For curent rates, eligibility criteria,<br />
and a list of participating lenders,<br />
contact:<br />
DSHA Mortgage Loan Officer<br />
(888) 363-8808<br />
or visit the DSHA website:<br />
www.destatehousing.com<br />
Second Mortgage<br />
Assistance Loan<br />
(SMAL) Program<br />
This statewide program offers settlement assistance to income-eligible<br />
families who obtain mortgages from participating<br />
lenders. The SMAL is a 30-year, deferred second<br />
mortgage.<br />
DSHA Mortgage Loan Officer<br />
(888) 363-8808<br />
or visit the DSHA website:<br />
www.destatehousing.com<br />
<strong>Delaware</strong> First-Time<br />
Homebuyer Tax Credit<br />
The <strong>Delaware</strong> First-Time Homebuyer Tax Credit is a federal<br />
income tax credit. Eligible homebuyers may receive a federal<br />
tax credit up to $2,000 each year.<br />
DSHA Mortgage Loan Officer<br />
(888) 363-8808<br />
or visit the DSHA website:<br />
www.destatehousing.com<br />
<strong>Delaware</strong> Emergency<br />
Mortgage Assistance<br />
Program (DEMAP)<br />
Provides emergency financial assistance to <strong>Delaware</strong> homeowners<br />
facing foreclosure. DEMAP loans are mortgages<br />
against subject properties.<br />
Eligibility Requirements: The homeowner’s mortgage payments<br />
must be 90 days or more delinquent or facing imminent<br />
foreclosure. The homeowner should be suffering financial<br />
hardship beyond his or her control, such as unemployment,<br />
underemployment, or illness.<br />
Contact one of the <strong>Housing</strong><br />
Counseling Agencies listed on<br />
page 18.<br />
<strong>Delaware</strong> Manufactured<br />
Homeowners<br />
Assistance Program<br />
(MHAP)<br />
MHAP is designed to assist <strong>Delaware</strong>ans who are delinquent<br />
on their home loan and/or lot rent payments for their manufactured<br />
homes. Reasons for hardship are limited to unemployment,<br />
underemployment, or illness.<br />
Contact one of the <strong>Housing</strong><br />
Counseling Agencies listed on<br />
page 18.<br />
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