Delaware FHA Lenders
Delaware Lenders have the following programs available for Delaware customers:
- First Time Home Buyers have programs on both the state and federal level
- FHA Purchases with 3.5% down payment
- FHA Refinances up to 97.75% of your homes value
- FHA 203k rehab and renovation loans for both purchase and refinance- use the value of what your house will be after you close! One time close- construction loan at a great low rate.
- VA (Veterans Administration) Loans 100% financing for purchases and refinances
- USDA Loans 100% financing for purchases and refinances
- Reverse Mortgages (FHA HECM) for seniors over 62 years old who want to tap into the equity in their home
Delaware Conventional Mortgage Lenders – Virtually all lenders offer conventional loan products. When in search for an Delaware conventional loan, make certain you are receiving the best possible rate with the best possible terms and the lowest closing costs associated with your particular loan. Delaware conventional loan requirements differ greatly from an Delaware FHA loan in regards to maximum loan amounts, minimum down payments, loan-to-value ratios and credit criteria so make sure you have educated yourself on your loan options before speaking with a Delaware lender.
Delaware FHA Mortgage Lenders – Not all Delaware mortgage companies are approved to offer FHA loan products. Delaware lenders are required to adhere to certain guidelines set forth by the FHA so when you are in search of an FHA loan, make certain that the Delaware lender you are working with is approved by the Federal Housing Administration. Delaware FHA maximum loan limits are set by HUD and differ for each county in each state (use the table below to find Delaware’s maximum loan amount). Down payment, loan-to-value and credit criteria are much more relaxed than conventional loans so ensure your Delaware lender is getting you the best possible rate for your particular financial situation.
WhatisyourRate.com is not HUD, nor are we a lender. We connect you to the information you need when trying to find an approved lender. We make recommendations to use certain approved lenders in certain states, however WhatisYourRate.com is not a lender just an information guide for choosing the correct lender. Please investigate, do research and be thorough when trying to decide what loan is for you.
The CY2011 basic standard mortgage limits for FHA insured loans are:
High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
Section 214 of the National Housing Act provides that mortgage limits for Alaska, Guam, Hawaii, and the Virgin Islands may be adjusted up to 150 percent of the new ceilings. This results in new CY2011 ceilings for these areas of: