Delaware DSHA Preferred Plus Program Checklist
A step-by-step checklist for consumers applying for the Delaware DSHA Preferred Plus Program in 2025.
Confirm Your Eligibility
- Ensure your household income falls within the program’s limits, which vary based on family size and county.
- Verify that your credit score meets the minimum requirement for the program, typically 620 or higher. Additional conditions may be outlined by your assigned Loan Officer.
- Confirm the property you plan to purchase is within the program’s price cap and will serve as your primary residence.
- Check if you meet any additional eligibility requirements, such as being a first-time homebuyer or purchasing in a targeted area.
Prepare Required Documentation
- Collect proof of income, such as recent pay stubs, W-2 forms, or documentation of other income sources.
- Gather your tax returns for the last two years, including all schedules and attachments.
- Obtain recent bank statements covering the past 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 throughout the Delaware DSHA Preferred Plus Program application process.
- Schedule a meeting or call with your Loan Officer to discuss program requirements, confirm eligibility, and review the necessary steps for application.
- Ask questions about the program benefits, required documentation, or the approval timeline.
- Follow your Loan Officer’s instructions to gather and submit all required materials promptly and accurately.
Complete Your Application
- Collaborate with your Loan Officer to accurately complete the application for the Preferred Plus Program.
- Submit all required documents to verify your eligibility for down payment and closing cost assistance.
- Carefully review your application with your Loan Officer to ensure all information is accurate and complete before submission.
- If necessary, attend a homebuyer education course to fulfill program prerequisites.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to secure your participation in the program.
- Prepare for any additional costs not covered by the program, such as closing fees or prepaid items.
- Receive confirmation of your enrollment and detailed instructions on how the assistance will be applied to your home purchase.
Maintain Compliance with Program Terms
- Ensure the purchased property remains your primary residence for the duration required by the program guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions may affect your program benefits.
- Stay informed of program updates or changes to ensure compliance and retain your assistance benefits.