Delaware First-Time Homebuyer Calculator
First-time homebuyer costs in Delaware: $11,550 FHA down payment, $11,550 closing costs, 0.57% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Delaware. Includes down payment, closing costs (3.5%), PMI (required below 20% down), property tax (0.57%), and homeowners insurance ($1,150/yr). Note: Delaware requires an attorney at closing. DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Delaware homebuyer facts: Median price $330,000 | 20% down = $66,000 | FHA 3.5% down = $11,550 | Closing costs ~$11,550 | Property tax 0.57% | Attorney required at closing.
Frequently Asked Questions
How much do I need to buy a house in Delaware?
For Delaware's median home ($330,000): FHA minimum down payment is $11,550 (3.5%), plus $11,550 in closing costs. Total minimum: ~$23,100. With 20% down to avoid PMI: ~$77,550.
What are closing costs in Delaware?
Delaware closing costs average 3.5% of the home price, or about $11,550 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and required attorney fees. Transfer taxes are 3%.
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