Here is a brief description of the best programs available in DE. Please call me if you have any questions about these. 610-764-3062 Janice Roosevelt
Rebuilding Our Communities (ROC program)
·$25,000 for purchasing a home that is either bank owned or has been vacant for 90 days or more. This is a forgiven loan (grant) if they live there 10 years. If they live there less than 10 years $2,500 is forgiven for every year that they live there.
·This does not apply for every neighborhood and there are income limits. Please call for specifics.
·Does not need to be a first time buyer
SMAL loan (Second Mortgage Assistance Loan)
·$10,000 loan at 0% interest for purchasing any home. This is to be used for down payment or closing costs
·Applies to all neighborhoods
·Must attend a home buyer seminar
·Income limits apply but they are pretty generous
·Does not need to be a first time buyer
Hometown Heros program
·Anyone that has been in the military qualifies
·2.5% on a 30 year fixed on a regular loan. 2.75% if they want that loan and an additional $10,000 from the state of DE for down payment assistance
·Income limits apply but they are pretty generous
Comments(3)