Delaware Down Payment Calculator 2026 — How Much to Save

Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation

Quick Answer

For the Delaware median home price of $340,000, you need: $10,200 for a 3% conventional loan, $11,900 for FHA (3.5%), $34,000 for 10% down (lower PMI), or $68,000 for 20% (no PMI). VA and USDA loans offer 0% down for eligible buyers.

Delaware Housing & Mortgage Data

Median Home Price$340,000
30-Year Fixed Rate6.85%(State average, Apr 2026)
Property Tax Rate0.57%(Effective rate)
Avg HO Insurance$1,200/yr ($100/mo)
Typical Down Payment10% ($34,000)
Median Household Income$68,000/yr

Key Facts for Delaware

  • ✓Delaware median home price is $340,000 as of 2026
  • ✓30-year fixed mortgage rates in Delaware average 6.85%
  • ✓Property taxes in Delaware are 0.57% — below the national average of 1.10%
  • ✓Homeowners insurance averages $1,200/year in Delaware
  • ✓A household earning $85,000/year can typically afford the median Delaware home

More Delaware Calculators

Mortgage CalculatorMortgage Affordability CalculatorHomeowners Insurance CalculatorProperty Tax Calculator

Frequently Asked Questions — Down Payment Calculator in Delaware

Are there down payment assistance programs in Delaware?
Yes. Delaware offers state-level down payment assistance (DPA) programs through its Housing Finance Agency. Programs typically offer 2–5% of the purchase price as a forgivable grant or low-interest second loan for first-time buyers who meet income and purchase price limits. Search "Delaware Housing Finance Agency" for current programs.
Is a 20% down payment required to buy a home in Delaware?
No. The 20% down payment is a myth. Conventional loans start at 3% down, FHA loans at 3.5% down, and VA/USDA loans offer 0% down for eligible buyers. The tradeoff: anything below 20% requires PMI on a conventional loan. On a $340,000 home, 20% down is $68,000 vs $10,200 for 3% down.
What is the average mortgage payment in Delaware?
The average monthly mortgage payment (principal + interest) in Delaware is approximately $2,005 for a $306,000 loan at 6.85% over 30 years. Adding property tax ($162/mo) and homeowners insurance ($100/mo) brings total PITI to about $2,267/month.
What credit score do I need for a mortgage in Delaware?
Most Delaware lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in Delaware, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $45,900 over the life of a 30-year loan.
How much down payment is required to buy a home in Delaware?
You can buy a home in Delaware with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the Delaware median home price of $340,000, a 20% down payment is $68,000 and lets you avoid PMI. Delaware also has state-level down payment assistance programs for first-time buyers.
What are current mortgage rates in Delaware?
Current 30-year fixed mortgage rates in Delaware average 6.85% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best Delaware mortgage rate.
What is the property tax rate in Delaware?
Delaware's effective property tax rate is 0.57%. On the Delaware median home value of $340,000, annual property taxes are approximately $1,938 ($162/month). Property taxes in Delaware are typically escrowed in your monthly mortgage payment.