Down Payment Assistance Programs in Delaware

Down Payment Assistance products offered in Delaware include: Welcome Home Loan Program, Home Again Loan Program, and DE Tax Credit Certificate (MCC) Program. To see which program may be right for you, get started on your application today!

Welcome Home Loan Program

The Welcome Home Program is available for homebuyers looking to purchase property in Delaware. Property eligibility restrictions may apply. Check with an On Q Mortgage Consultant to see if your area is eligible.  Manufactured housing may be permitted on FHA loans only.

  • This program is available to first time homebuyers only.
  • Down Payment Assistance from 2-5% of the note amount is given in the form a 2nd lien with deferred payments 0% interest for a 30-year term.
  • 1st mortgage can be Conventional (FHLMC HFA Advantage only), FHA, VA or USDA loan.
  • HUD approved homeownership classes are required for all borrowers with a FICO score of 659 or lower, regardless of loan product used
  • Credit and income restrictions may apply.
Home Again Loan Program

The Home Again Loan Program is available for homebuyers looking to purchase property in Delaware. Property eligibility restrictions may apply. Check with an On Q Mortgage Consultant to see if your area is eligible.  Manufactured housing may be permitted on FHA loans only.

  • This program is not limited to first time homebuyers.
  • Down Payment Assistance from 2-5% of the note amount is given in the form a 2nd lien with deferred payments 0% interest for a 30-year term.
  • 1st mortgage can be Conv (FHLMC HFA Advantage only), FHA, VA or USDA loan.
  • HUD approved homeownership classes are required for all borrowers with a FICO score of 659 or lower, regardless of loan product used

Credit and income restrictions may apply.

DE Tax Credit Certificate (MCC) Program

The Tax Credit Certificate Program can be used for the purchase of a primary residence within the state of Delaware. Condos are allowed per agency guidelines. Contact an On Q Mortgage Consultant to see if your property is eligible.

  • This program is available to first time homebuyers only.
  • This program offers a special tax credit not to exceed $2,000.
  • 1st mortgage can be a Conv., FHA, VA, or USDA loan.
  • Credit and Income restrictions may apply.

Some program restrictions and requirements apply. Loan program availability is subject to change without notice. Some programs may have a first-time homebuyer requirement. The type of DPA and lien position will vary for each loan program. OnQ0320180681Y000003gz9C

Loan down payment example is based on a 30 year fixed conventional mortgage loan with 4.0% down (provided through the Down Payment Assistance program). Amounts are based on loan amount of $200,000, interest rate of 5.375%, APR of 6.190%, $6,551 due from borrower at closing ($8,000 down payment paid through down payment assistance program). Approximate monthly payment of $1525. All amounts shown are estimates provided for educational and comparison purposes only and will vary for each loan. Borrower will be responsible for down payment beyond what is provided by the program as well as any fees and costs associated with the loan. Down payment assistance may come in the form of a forgivable or non-forgivable lien. Income and geographic restrictions apply. Homebuyer education may be required for certain payment assistance programs. Program availability is subject to change without notice. Additional restrictions may apply. On Q Financial, Inc. is an Equal Housing Lender. Loan amounts and fees will vary based on program used. Loan Amounts on FHA Scenario’s include an FHA 1.75% upfront fee. Loan Amounts on VA scenario’s include a 2.15% VA Funding Fee (Based on Regular Military 1st time usage)-No down payment required unless sales price exceeds appraised value. A USDA Guarantee fee will be charged and financed into the loan. The USDA Guarantee Fee is 1% of the loan amount and the USDA Annual Fee is 0.35% as of 06/01/2018. The USDA Annual Fee is to be paid monthly as part of the mortgage payment.