Delaware State Bond Money Now Available

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:

     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.