Delaware DSHA First Mortgage Program Checklist
A step-by-step checklist for consumers applying for the Delaware DSHA First Mortgage Program in 2025.
Confirm Your Eligibility
- Ensure your household income is within the program’s limits, which vary based on family size and county.
- Verify that your credit score meets the program’s minimum requirement, typically 620 or higher for most loan types. Your assigned Loan Officer may provide additional details based on your situation.
- Confirm the property you plan to purchase is within the program’s price limits and will serve as your primary residence.
- Check if you meet additional requirements, such as being a first-time homebuyer, a qualified veteran, or purchasing in a targeted area.
Prepare Necessary Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or other income verification documents.
- Gather your tax returns for the past two years, including all schedules and attachments.
- Obtain bank statements from the last two to three months for all financial accounts.
- Prepare property details, including the address, purchase agreement, and sale price.
- Compile any additional documents requested by your Loan Officer, such as verification of debts, liabilities, or proof of assets.
Work with Your Assigned Loan Officer
- A Loan Officer has been assigned to assist you through the Delaware DSHA First Mortgage Program application process.
- Schedule an initial meeting or phone call with your Loan Officer to confirm eligibility, review program benefits, and discuss the application process.
- Ask any questions about program requirements, required documentation, or next steps.
- Follow the guidance provided by your Loan Officer to gather and submit all necessary materials promptly.
Complete Your Application
- Collaborate with your Loan Officer to accurately complete the application for the First Mortgage Program.
- Submit all required documents to verify your eligibility for the program.
- Review your application with your Loan Officer to ensure all information is accurate and complete before submission.
- If required, attend a homebuyer education course to fulfill program requirements.
Finalize Your Enrollment
- Sign all required documents provided by your Loan Officer to secure your participation in the program.
- Be prepared to cover any additional costs not included in the program benefits, such as closing fees or prepaid expenses.
- Receive confirmation of your enrollment and detailed instructions on how the assistance will be applied to your mortgage.
Maintain Compliance with Program Terms
- Ensure the purchased property remains your primary residence for the duration required by the program’s guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions may impact your program benefits.
- Stay updated on any changes to the program’s requirements to maintain compliance and retain your benefits.