Delaware Valley Real Estate - OnPoint with Letitia Stevenson

DSHA Update November 2010 - Plans to Add FHA 203K Rehab Loan! (Delaware First Time Home Buyers Program)

I just received notification from Gail Frederick (Mortgage Consultant, Trident Mortgage Company) that the Delaware State Housing Authority (DSHA) is planning to add the FHA 203K program to their the Delaware First Time Home Buyers Program (SFMRB).

This is Great News for first-time home buyers! Qualified first-time buyers will have the opportunity to purchase and rehabilitate their new home while taking advantage of below-market interest rates.  The Second Mortgage Assistance Loan (SMAL) will also be available to assist with the down payment and closing costs.

DSHA hopes to roll out the program by the end of the year.  I'll keep you posted, so check back often for changes and updates.

Gail Frederick is a long-time mortgage professional with more than 20 years in the business. She has secured financing for her wide range of clients by satisfying their needs through hard work, quick response and attention to detail. 

The content provided in this post is presented as a courtesy to be used only for informational purposes and is not represented to be error free. For the latest information, requirements and updates on DSHA's affordable homebuyers programs, please visit DSHA's Homeowenership online or contact a participating mortgage lender/mortgage consultant. Or, call DSHA at 302.577.5001 (Wilmington), 302.739.4263 (Dover), or toll free at 888-363-8808.

If you would like a list of DSHA's participating lenders or have any real estate questions, please contact Letitia Stevenson.