The Delaware State Housing Authority recently launched the Home Sweet Home for the Holiday program, which provided financial assistance to close to 40 families in Delaware looking to purchase a new home before the holiday season. Each family received a $10,000 loan for down payment and closing costs, as well as access to $75 million for 30-year fixed-rate mortgages. The program was unique in that it offered a forgivable loan if the family remains in the home for ten years, with the loan decreasing by 10% each year until it is ultimately forgiven in the tenth year.
DSHA Director of Public Relations, Laurie Stovall, emphasized the importance of providing assistance to a diverse range of Delawareans, recognizing that each individual faces different circumstances and challenges. Stovall highlighted the long-standing commitment of DSHA to help potential homeowners overcome the barriers associated with upfront costs, such as down payments.
The Home Sweet Home program was temporary, but it builds on DSHA’s ongoing efforts to support aspiring homeowners in the state. Stovall noted that programs like Kiss Your Landlord Goodbye are also available for those seeking to transition from renting to homeownership. Overall, the program reflects DSHA’s dedication to making homeownership more accessible and achievable for residents of Delaware.
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