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DSHA announces four new homeownership programs to increase access to homeownership in the state

Delaware Public Media

The Delaware State Housing Authority has launched four new homeownership programs as part of National Homeownership Month.

The programs are for both first-time and repeat homebuyers, and designed to increase access to homeownership in Delaware.

The Smart Home Loan is a first mortgage loan, and makes sure homebuyers get the best interest rate on their mortgage. The interest rate will be priced at or below current market rates.

There’s also the Home Sweet Home Program which is a zero-interest forgivable second used for down payment and closing cost.

"Essentially if you live in the home for 10 years this loan of $12,000 is completely forgiven, and this program is for homes with a maximum sale price of $285,000. So, it's perfect for those who are looking for their starter home or maybe even their starter condo as well," said DSHA’s Laurie Stovall

This loan also decreases by 10% each year the homeowner resides in the property.

The Delaware Diamonds Home Loan is also a zero-interest forgivable second loan of $15,000, and Stovall says this loan is for certain groups.

"Delaware Diamonds is for current essential workers who live in Delaware. That includes those who work in the education, medical, retail, and even military fields, and again that is a zero interest forgivable loan. It will be forgiven after 10 years of residence in the home," said Stovall.

The fourth loan, the First State Home Loan Program is a zero-interest second loan that provides a 4% down payment and close assistance loan based on the first mortgage final loan amount.

Stovall notes the programs are funded through a $5 million commitment from Gov. John Carney and through the American Rescue Plan Act.

She adds that the Home Sweet Home and Delaware Diamonds program are temporary programs available until funding runs out from the $5 million in assistance.

More information on the loans can be found through a HUD-approved housing counselor, or at DSHA’s homeownership website,

Joe brings over 20 years of experience in news and radio to Delaware Public Media and the All Things Considered host position. He joined DPM in November 2019 as a reporter and fill-in ATC host after six years as a reporter and anchor at commercial radio stations in New Castle and Sussex Counties.