Single Family Mortgage Revenue Bond Program (SFMRB)
Commonly referred to as the First-Time Home Buyers Program, this statewide
program offers loans in all 3 Delaware counties and provides first mortgage financing at below-market interest rates to low- and moderate-income Delaware homebuyers who have not owned a homein the past three years. At 4.9%, this could be just what buyers are looking for.
Borrower Qualifications
To qualify, a borrower's current gross family income cannot exceed:
| County | Area | 1 or 2 Person Households | 3 or More Person Households |
| New Castle | Non-targeted | $77,800 | $89,470 |
| Targeted | $93,360 | $108,920 | |
| Kent & Sussex | Non-targeted | $70,800 | $81,420 |
| Targeted | $84,960 | $99,120 |
Loan Terms
- Low rate loans are available with a 1.5% discount/origination fee. The current rate is 4.55%. (30 Year)
- The current interest rate for Zero Point Loans is 4.90% (30 Year).
- Assisted Loans provide down payment assistance in the form of a grant equal to 2% of the mortgage amount. These loans are currently available at 5.70% (30 Year).
For information of qualifying for one of these loans, speak to a loan officer at an institution offering the program, such as John Skrobot of Gilpin Mortgage, Patterson-Schwartz' mortgage company. His email address is jskrobot@gilpin.com or you can call him at 302-234-6087direct.
Carolyn Roland, GRI CRS Patterson-Schwartz & Assoc. Inc.
Selling historic properties in Delaware
and Chester County, Pennsylvania since 1987. Office located in Hockessin, DE, on the Delaware/Pennsylvania line.
Search for properties and learn about the historic scene, past and present
The DE and PA Historic Real Estate blog Call: Direct 800-771-2332 Office 302-239-3000
Great new blog, Carolyn. Well done!
Hi was wondering if I could qualify for the state bond program in delaware. I am looking to purchase a home in delaware and I am moving from pennslyvania.Please call me and let me know 2672710381