Single Family Mortgage Revenue Bond Program (SFMRB)

Commonly referred to as the First-Time Home Buyers Program, this statewideDollar bills 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

 Calculator 

     Loan Terms

  1. Low rate loans are available with a 1.5% discount/origination fee. The current rate is 4.55%. (30 Year)
  2. The current interest rate for Zero Point Loans is 4.90% (30 Year).
  3. 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's photoCarolyn Roland, GRI CRS Patterson-Schwartz & Assoc. Inc.

Selling historic properties in Delaware1731 PA stone home and Chester County, Pennsylvania since 1987.  Office located in Hockessin, DE, on the Delaware/Pennsylvania line.


 


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This post has been included in Delaware Real Estate News New Castle County, DE Real Estate News
Post is included in group: Activerain MLS Online
Post is included in group: Realtors®

2 Comments on Delaware State Bond Money Now Available

FEB
23
2010

Great new blog, Carolyn. Well done!
John S
11:49am • #1
FEB
08
2011

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
Linda Faye
12:42am • #2

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Carolyn Roland-Your Delaware and Chester County Historic Homes Specialist

Wilmington, DE

More about me…

Patterson-Schwartz Real Estate

Address: Patterson-Schwartz Real Estate, 7234 Lancaster Pike, Hockessin, DE, 19707

Office Phone: (302) 239-3000

Cell Phone: (302) 593-5111

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