Delaware Mortgage Refinance Calculator 2026 — Break-Even Analysis
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
Current 30-year mortgage rates in Delaware are around 6.85%. Refinancing makes sense if your current rate is 0.75%+ higher and you plan to stay at least 2–3 years. On a $300K loan, dropping from 7.5% to 6.85% saves approximately $132/month.
Delaware Housing & Mortgage Data
| Median Home Price | $340,000 |
| 30-Year Fixed Rate | 6.85%(State average, Apr 2026) |
| Property Tax Rate | 0.57%(Effective rate) |
| Avg HO Insurance | $1,200/yr ($100/mo) |
| Typical Down Payment | 10% ($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
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Frequently Asked Questions — Mortgage Refinance Calculator in Delaware
- When does it make sense to refinance in Delaware?
- Refinancing makes sense in Delaware when you can reduce your rate by at least 0.75% and you plan to stay in the home long enough to recoup closing costs (typically 2–3 years). Current 30-year rates in Delaware are approximately 6.85%. If your current rate is above 7.60%, a refinance analysis is worth running.
- What are typical refinance closing costs in Delaware?
- Refinance closing costs in Delaware typically run 2–5% of the loan balance, or $6,120–$15,300 on the Delaware median home. These include lender origination fees, appraisal, title search, and prepaid interest. Some lenders offer no-closing-cost refis with a slightly higher rate.
- 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.