Down Payment Calculator for Delaware

Down Payment Planning in Delaware

With a median home value of $340,000 in Delaware, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $10,200
• 3.5% (FHA minimum): $11,900
• 10% (Avoid PMI with some lenders): $34,000
• 20% (Eliminate PMI entirely): $68,000

Conforming Loan Limits in Delaware

The conforming loan limit in Delaware is $726,200. All Delaware counties are at the standard conforming limit. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $2,900 in Delaware. Delaware charges a 4% real estate transfer tax (split between buyer and seller at 2% each), which is among the higher transfer taxes nationally.

Property Tax Impact

Delaware's effective property tax rate is 0.57% (average annual bill: $1,570). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

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