Delaware FHA Loan Rates, Closing Costs & Stats

Delaware

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Delaware FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Delaware averaged 6.2% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Delaware's average FHA mortgage closing costs are $9,529.

    The average rate for the prior week (2025-03-28) was 6.6% and one month ago for the week of 2025-02-28, the average rate was 6.39%.

    The average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.2%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Delaware FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Delaware level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    PIKE CREEK MORTGAGE SERVICES, INC. 255 6.16% $12,524
    Meridian Bank Corporation 252 6.11% $12,626
    QUICKEN LOANS, LLC 231 6.26% $13,724
    NVR Mortgage Finance, Inc. 191 6.29% $14,620
    Keystone Funding, Inc. 152 6.15% $13,932
    UNITED WHOLESALE MORTGAGE, LLC 134 6.06% $15,076
    Prosperity Home Mortgage, LLC 114 6.16% $10,884
    FREEDOM MORTGAGE CORPORATION 107 6.26% $16,074
    TIDEWATER MORTGAGE SERVICES, INC. 106 6.41% $11,486
    PENNYMAC LOAN SERVICES, LLC 95 5.96% $11,601
    NATION ONE MORTGAGE CORPORATION 88 6.05% $13,372
    GUILD MORTGAGE COMPANY 85 6.10% $11,802
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 74 6.46% $16,007
    Evolve Bank & Trust 69 6.33% $13,480
    CROSSCOUNTRY MORTGAGE, LLC 67 6.38% $13,339
    MOVEMENT MORTGAGE, LLC 64 6.19% $11,916
    DHI MORTGAGE COMPANY, LTD. 49 5.44% $11,071
    BROKER SOLUTIONS, INC. 47 6.56% $13,306
    NEWREZ LLC 45 6.31% $13,948
    LOANDEPOT.COM, LLC 44 6.29% $14,547
    CARDINAL FINANCIAL 42 6.62% $15,303
    CMG MORTGAGE, INC. 40 6.18% $12,368
    PRIMARY RESIDENTIAL MORTGAGE, INC. 32 6.63% $8,309
    Mr. Cooper ( Nationstar Mortgage ) 28 6.56% $14,718
    EAGLE HOME MORTGAGE, LLC 28 6.38% $15,034
    ALLIED MORTGAGE GROUP, INC. 25 6.29% $13,929
    ABSOLUTE HOME MORTGAGE CORPORATION 23 6.54% $13,528
    Wilmington Savings Fund Society, FSB 23 5.98% $8,525
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 6.25% $11,317
    American Mortgage & Equity Consultants, Inc. 23 6.43% $15,411
    HOMESIDE FINANCIAL, LLC 23 6.54% $15,739
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 23 5.91% $16,098
    Equity Prime Mortgage LLC 22 6.90% $16,485
    Nations Lending Corporation 21 6.61% $13,096
    Carrington Mortgage Services, LLC 21 6.14% $15,608
    AMERISAVE MORTGAGE CORPORATION 20 6.13% $16,445
    MUTUAL OF OMAHA MORTGAGE, INC. 20 6.38% $19,579
    Waterstone Mortgage Corporation 19 6.20% $15,893
    Flagstar Bank, FSB 16 6.43% $9,677
    Magnolia Bank 16 6.59% $12,901
    M&T Bank 16 6.40% $10,673
    LAKEVIEW LOAN SERVICING, LLC 15 6.42% $10,211
    EMM LOANS LLC 15 6.17% $16,939
    MICHIGAN MUTUAL, INC. 15 6.43% $11,560
    GUARANTEED RATE, INC. 15 6.31% $13,667
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 6.54% $10,445
    EMBRACE HOME LOANS, INC. 13 6.09% $14,332
    VILLAGE CAPITAL MORTGAGE 13 6.52% $5,218
    GUARANTEED RATE AFFINITY, LLC 13 6.77% $11,822
    MDE Home Loans, LLC 13 6.30% $17,366
    LOANPAL, LLC 13 5.51% $16,602
    AmeriHome Mortgage Company, LLC 12 6.43% $8,960
    Capital Bank 12 6.07% $11,877
    FIRST COMMUNITY MORTGAGE, INC. 11 6.65% $14,259
    TJC Mortgage, Inc. 10 6.20% $12,321
    HOMEBRIDGE FINANCIAL SERVICES, INC. 10 6.73% $9,928
    Century Mortgage Company DBA Century Lending Company 9 6.36% $12,876
    Acre Mortgage and Financial Inc 9 6.47% $13,889
    NEW FED MORTGAGE, CORP. 9 6.25% $12,782
    NFM, INC. 8 6.53% $14,754
    AMERICAN FINANCIAL RESOURCES, INC. 8 6.77% $10,600
    Mortgage Research Center, LLC 8 6.47% $11,221
    Paramount Residential Mortgage Group, Inc. 7 6.73% $18,561
    RELIANCE FIRST CAPITAL, LLC 7 6.59% $14,151
    MLD MORTGAGE INC. 7 6.12% $11,758
    SUN WEST MORTGAGE COMPANY, INC. 7 6.21% $11,779
    DIRECT MORTGAGE LOANS, LLC 7 6.48% $15,271
    LIBERTY HOME MORTGAGE CORPORATION 6 6.71% $17,056
    AMERICAN FINANCING CORPORATION 6 5.08% $18,187
    BAYSHORE MORTGAGE FUNDING, LLC 6 6.63% $15,052
    First Citizens Community Bank 6 6.29% $10,949
    ZILLOW HOME LOANS, LLC 5 6.08% $12,611
    AMERICAN FINANCIAL NETWORK, INC. 5 6.78% $14,404
    ENVOY MORTGAGE, LTD 5 6.33% $15,005
    EVERETT FINANCIAL, INC. 5 5.93% $10,049
    FIRST HOME MORTGAGE CORPORATION 5 6.08% $16,287
    GREENTREE MORTGAGE COMPANY, L.P. 5 6.08% $10,395
    PLANET HOME LENDING, LLC 5 6.05% $9,749
    PLAZA HOME MORTGAGE, INC. 5 7.00% $16,423
    PNC Bank 5 6.48% $9,260
    Texana Bank 5 6.20% $15,135
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.84% $15,944
    BAY EQUITY LLC 4 6.09% $14,219
    City Lending Inc. 4 7.72% $16,322
    NATIONS DIRECT MORTGAGE, LLC 4 6.91% $18,380
    Citizens Bank 4 5.66% $13,600
    CHURCHILL MORTGAGE CORPORATION 4 7.09% $11,799
    OCMBC, INC. 4 6.44% $16,779
    Residential Mortgage Solutions, Inc. 4 6.37% $14,167
    The Loan Store, Inc. 3 6.83% $14,977
    DAS Acquisition Company, LLC 3 7.08% $10,284
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.21% $16,729
    Shore United Bank 3 6.50% $10,103
    GSF Mortgage Corporation 3 6.58% $12,272
    Lakeview Community Capital, LLC 3 5.75% $9,262
    TruHome Solutions, LLC 3 6.42% $11,879
    Fulton Bank 3 5.96% $9,416
    Plains Commerce Bank 3 6.08% $16,033
    Bank of America 3 6.50% $9,135
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.92% $13,342
    RADIUS FINANCIAL GROUP INC. 3 6.92% $9,680
    BAY CAPITAL MORTGAGE CORPORATION 3 5.83% $15,196
    NBKC BANK 3 6.13% $11,294
    MORIA DEVELOPMENT, INC. 2 6.25% $11,659
    Mortgage America, Inc. 2 6.63% $11,678
    Ixonia Bank 2 6.06% $12,556
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 5.88% $13,228
    Firstrust Savings Bank 2 6.50% $12,496
    NJ LENDERS CORP. 2 5.94% $20,295
    Northpointe Bank 2 5.88% $10,673
    PHH Mortgage Corporation 2 6.43% $12,636
    Wells Fargo Bank 2 7.13% $9,549
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.25% $12,505
    Advisors Mortgage Group, L.L.C. 2 6.25% $12,528
    The Federal Savings Bank 2 5.81% $29,476
    UNION HOME MORTGAGE CORP. 2 5.50% $13,559
    Univest Bank and Trust Co. 2 5.81% $11,669
    MID AMERICA MORTGAGE, INC. 2 6.94% $14,251
    JPMorgan Chase Bank 2 6.44% $7,651
    BM Real Estate Services, Inc. 1 6.99% $11,620
    Commerce Home Mortgage, Inc. 1 6.13% $9,694
    BETTER MORTGAGE CORPORATION 1 4.75% $17,792
    RESIDENTIAL BANCORP 1 5.99% $28,159
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $13,790
    Cornerstone First Mortgage, Inc 1 6.63% $15,009
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $8,230
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.25% $5,914
    NEXERA HOLDING LLC 1 6.25% $10,208
    East Coast Capital Corp. 1 6.63% $12,222
    US MORTGAGE CORPORATION 1 6.38% $10,638
    AXIA FINANCIAL, LLC 1 6.75% $10,711
    NEW DAY FINANCIAL, LLC 1 7.13% $7,297
    THE MORTGAGE LINK, INC. 1 6.13% $14,186
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.38% $10,864
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,698
    Towne Bank 1 6.63% $10,231
    TOWNE MORTGAGE COMPANY 1 6.63% $16,070
    FIRST HERITAGE FINANCIAL, LLC 1 5.63% $12,379
    MEMBER FIRST MORTGAGE, LLC 1 6.75% $5,393
    FIRST SAVINGS MORTGAGE CORPORATION 1 8.25% $15,249
    Citibank 1 6.25% $12,074
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $17,561
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $17,406
    Old National Bank 1 5.75% $11,028
    OCEANSIDE MORTGAGE COMPANY 1 6.13% $3,650
    U.S. Bank 1 7.25% $4,238
    Princeton Mortgage Corporation 1 5.25% $13,878
    BOND STREET MORTGAGE, LLC 1 7.63% $14,438

    The top Delaware FHA lender as defined by loan originations is PIKE CREEK MORTGAGE SERVICES, INC., with 255 FHA loans originated. Their average total fees are $12,524, which is $102 lower than the next largest lender, Meridian Bank Corporation.

    The lowest fee Delaware FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($5,218), PRIMARY RESIDENTIAL MORTGAGE, INC. ($8,309), Wilmington Savings Fund Society, FSB ($8,525), AmeriHome Mortgage Company, LLC ($8,960) and Flagstar Bank, FSB ($9,677).

    The lowest rate Delaware FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.44%), LOANPAL, LLC (5.51%), K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.91%), PENNYMAC LOAN SERVICES, LLC (5.96%) and Wilmington Savings Fund Society, FSB (5.98%).

    Delaware FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    DOVER, DE KENT 2022 $420,680 $538,650 $651,050 $809,150
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD NEW CASTLE 2022 $477,250 $610,950 $738,500 $917,800
    SALISBURY, MD-DE SUSSEX 2022 $420,680 $538,650 $651,050 $809,150
    DOVER, DE KENT 2023 $472,030 $604,400 $730,525 $907,900
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD NEW CASTLE 2023 $529,000 $677,200 $818,600 $1,017,300
    SALISBURY, MD-DE SUSSEX 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).