Delaware’s median housing price is $ 255,300, well above the national median of $ 229,700. Although home values vary by region, they remain relatively average across the state.
US News’ 2020 Best Delaware Mortgage Lenders
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Lender highlights
- Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: $ 5 million
- Better Business Bureau Rating: A +
Best counter
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Different types of mortgages
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Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients
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No closing costs and no annual cash balance fees for balance transfers and HELOCs
Before you apply
- Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
- Minimum FICO Credit Score: 620
- Maximum loan amount: $ 3 million
- Better Business Bureau Rating: A +
Best counter
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Accepts up to 3% down payment
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Receives high marks from Better Business Bureau
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: Different
- Better Business Bureau Rating: A +
Best counter
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Receives strong customer service rating from Better Business Bureau
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Offers a wide range of mortgage products
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Offers exclusive mortgage programs for first time buyers and manufactured homebuyers
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
- Minimum FICO Credit Score: 500 with conditions
- Maximum debt-to-income ratio: 43% for FHA
- Maximum combined debt-to-value ratio: 90%
- JD Power Satisfaction Rating: Four out of five
Best counter
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LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.
Highlight:
- Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
- Minimum FICO Credit Score: 580 (FHA), other loans vary
- Maximum debt-to-income ratio: 60%
- JD Power Satisfaction Rating: Five out of five
Best counter
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The complete loan procedure is available online.
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Wide variety of mortgage products.
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Good customer service rating.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
- Minimum FICO Credit Score: 660
- Maximum loan amount: $ 1.5 million
- Better Business Bureau Rating: A +
What are the mortgage rates in Delaware?
House interest rates Range from 2.5% Service 3.5% , In Delaware.
What are today’s mortgage rates?
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Loan type |
Rate of this week |
Last week rate |
| 30-Year Fixed Rate Mortgage | 2.96% | 3.06% |
| 15-Year Fixed Rate Mortgage | 2.48% | 2.62% |
| 30-Year Fixed-Rate Jumbo Mortgage | 2.96% | 3.01% |
| 5/1 ARM | 3.04% | 3.03% |
| 5/1 Jumbo ARM | 2.92% | 2.89% |
* Rates up to November 13, 2020
mortgage calculator
Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.
What are some Delaware homebuyer programs?
Delaware homebuyers in Delaware State Housing Authority (DSHA) programs can get help with payment and closing costs.
available to: Homebuyers with a minimum credit score of 620; The maximum debt-to-income ratio of 45% for all borrowers with a FICO score, less than 699, and no maximum DTI ratio for FICO scores is greater than 699.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
profit: Interest rates at or below the standard market rate for qualified buyers.
Payment and closing cost assistance: Down payment and closing costs can be combined with assistance.
available to: All buyers with DSHA Homeownership Loan.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
Payment and closing cost assistance: An interest-free second mortgage loan of 2% to 5% of your total loan amount cannot be applied to the down payment or closing costs. This loan must be repaid upon the sale, transfer, or refinance of the home, or when it is no longer your primary residence.
available to: Homebuyers who have graduated college in the last three years with a four-year degree or higher.
Income Range: Vary by county (Revenue Range).
First time homebuyers ?: No.
Payment and closing cost assistance: When you use the DSHA Preferred Plus loan, the mortgage rate decreases by 50 basis points or one percent.
Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising ideas can impact offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.