Mortgage payment estimates, closing cost breakdowns, and first-time buyer programs for Delaware homebuyers.
Pre-filled with Delaware medians. Adjust for your property.
Estimated closing costs based on Delaware tax rates and fees.
The median home price in Delaware is $355,000, with property taxes averaging 0.56% annually. Delaware's low property tax rate is a major advantage for buyers, keeping monthly costs well below what you'd pay in high-tax states.
Closing costs in Delaware average $12K (3.3%% of purchase price). The state charges a 4% transfer tax on real estate transactions, which significantly increases closing costs. Homeowners insurance runs approximately $1,300 per year. This is within the normal range nationally.
Delaware offers the DSHA Homeownership Loan for first-time buyers: Up to 5% Preferred Plus. Contact your state housing finance agency or a HUD-approved housing counselor for eligibility details and application steps.
Delaware presents moderate affordability. The $355K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.