First Start Home Buyer Program is part of neighborhood revitalization initiatives Wilmington is providing help residents with a down payment on a property.
Wilmington Mayor Mike Purzycki stated in a news release earlier in November that residents who meet the income requirements can receive up to $15,000 to assist in the purchase of a home.
The New Homebuyer Assistance Program was accepted earlier this year as a part of the 2024 budget.
First Start Homebuyer Program
The program is designed to help first-time homebuyers, those who haven't owned a property in the previous three years, as well as displaced homemakers and single parents, with closing costs, down payments, or lowering the cost of a property purchase.
Up to $15,000, or 6% of the purchase price of the property, may be awarded to qualified applicants.
According to the city, prospective homeowners must apply for a fixed-rate mortgage loan that is "free from origination points or fees and must not exceed a term of 30 years" and make a minimum $1,000 contribution.
Contact Chris Pataki with RE/MAX Associates or 302-562-0628to help you get started right away.