DSHA has just announced their “Homes for Heroes” program. Qualified veterans can get a rate as low as 2.25%. It can also be combined with DSHA $10,000 bond at a rate of 2.75%. You do not need to be a first time buyer to qualify!
What is Loans for Heroes?
The Delaware State Housing Authority’s (OSHA) Loans for Heroes helps veterans purchase a home by providing mortgages at one-half a percentage polnt below our standard mortgage rates.
How does it work?
OSHA has established a set-aside of $5 million for Loans for Heroes. Any DSHA first mortgage loan product can be used at this reduced rate including: VA, USDA, FHA or conventional mortgages.
Am I eligible?
The rate reduction is available to veterans who have been discharged from the military for any reason other than dishonorably. Qualified veterans document their discharge status with a Department of Defense Form 214 (DD 214). Annual income cannot exceed the maximum income threshold based on the county in which they are purchasing
the property and the number of people in their household.
What types of properties are eligible?
Qualified properties cannot exceed the maximum purchase price limits based on the area in which the property is located and the number of units in the property. In order to apply, borrowers must contact a participating mortgage lender.
Contact Us for more details!
www.DeStateHousing.com
