Delaware State Housing Authority

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Delaware State Housing Authority

• presents

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Agenda

• Delaware State Housing Authority (DSHA)
• Home Ownership Products
• Development of Live Near Your Work
• Eligibility Criteria
• Partnerships
• Administration of Program
• Summary

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Delaware State Housing Authority (DSHA)

• State Housing Finance Agency
• Director - Member of Governors Cabinet
• Statewide Resources for Home Ownership and Rental
  Affordable Housing

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Home Ownership Products

• First Time Home Buyer Mortgage Loans
• Housing Rehabilitation Loans
• Foreclosure Prevention Loans
• Down Payment Settlement Assistance
• 2nd Mortgage Product
• Assisted Grant
• Live Near Your Work
• 3,000 grant toward closing costs of home within
  3 miles of employment.

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Development of Live Near Your Work

• Livable Delaware Initiative
• Joint commitment and partnership with
• Employers
• Jurisdictions
• Lenders
• Delaware State Housing Authority
• Win Win - Win

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Participating Employers

• Aloysius, Butler, Clark
• Aramark (Wesley College)
• City of Milford
• City of Wilmington
• Dover Housing Authority
• Horizon House, Inc.
• LACC
• Mona Lisa Restaurant
• Neighborhood House, Inc.
• PATS, Inc.

• Perdue Farms, Inc.
• Seawatch International
• St. Francis Hospital
• Town of Milford
• Town of Georgetown
• University of Delaware
• Wesley College
• West End Neighborhood House
• West Side Health, Inc.
• Wilmington Friends School

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Household Income

• Property Location Income Limit
• New Castle County
• 1 to 2 Person Households 77,800
• 3 or More Person Households 89,470
• Kent Sussex Counties
• 1 to 2 Person Households 70,800
• 3 or More Person Households 81,420

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Property Eligibility

• Location in designated LNYW area
• 3 mile radius from the employer
• Livable Delaware boundaries
• Purchase Price Limits
• New Castle County 366,990
• Kent County 328,762
• Sussex County 327,670
• 1 Unit Properties Only

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LNYW -Jurisdictions
Jurisdiction Contribution
Town of Georgetown Up to 2,000
City of Wilmington 1,000
City of Milford 1,000
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HUD-Approved Housing Counseling Agencies

• First State Community Action Agency
• Hockessin Community Center
• HOND
• Interfaith Community Housing Delaware
• NCALL Research
• Neighborhood House
• West End Neighborhood House
• YWCA Delaware

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• Summary
• Best Practices
• Eco- Friendly Promotion
• Unique Product for Targeted Marketing by Realtors
  and Lenders.
• Minimal Controlled Financial Investment
• Identify Natural Partners
• Challenges
• Economy Real Estate Market
• Home Buyers Preferences

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CONTACT INFORMATION

• Cynthia Karnai
• Director of Housing Finance
• cynthia_at_destatehousing.com
• 820 N. French Street, 10th Floor
• Wilmington, DE 19801
• Phone [phone]
• FAX [phone]
• www.DeStateHousing.com