How does the Chenoa Fund work? The Chenoa Fund provides second mortgages to be used with FHA loans to cover the minimum down payment requirement when purchasing an FHA-insured home. In effect, pairing the DPA with an FHA loan requires no money from the borrower, and the entire cost of the house is financed. The …
Financing a multifamily property
How to finance a multifamily property Purchasing your first Delaware home is always a significant milestone, but what if you could also turn it into an investment opportunity? That's where multifamily homes come into play. For first-time homebuyers trying to enter the current housing market, understanding how to …
MEP’s Rate Protection Program is a win-win for borrowers!
Every rental payment you make is building equity for someone else. Home values are predicted to continue to appreciate. The prices you see today are going to continue to rise. Don’t you want to realize that appreciation for yourself? MEP’s Rate Protection Program (RPP) allows you to get off the sidelines and buy the …
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Pennsylvania down payment assistance
A single parent who has only owned with a former spouse while married. An individual who is a displaced homemaker and has only owned with a spouse. An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations. An individual …
Delaware State Housing Authority down payment assistance
Pat Brunner, Delaware Branch Manager says, "If you want to buy a home but don’t think you have enough money for down payment, think again because we have people buying homes using the DSHA loan programs with very little money out of pocket. We have flexible underwriting, low down payments and highly experienced …
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What is the difference between DSCR/DCR/DSR loans?
What is the difference between DSCR/DCR/DSR? These terms are interchangeable. A DSCR is an important term used to measure a property's ability to cover its debt obligation. DSCR stands for Debt Service Coverage Ratio DCR stands for Debt Coverage Ratio DSR stands for Debt Service Ratio What is a DSCR …
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