New Castle County IDEA Down Payment Program

How much assistance

Up to $5,000 (Repayable Loan)

Zero-interest 10-year loan. No payments required in the first year. Monthly repayment begins in year 2 over the remaining 9 years.

Eligibility

• Income limits: Maximum household income of 120% of area median income, based on total household size (all persons living in the home, not just those on the loan).
• First-time buyer required: Yes — Must not have owned a principal residence in the previous 3 years.
• Geographic restrictions: Must purchase a home in an eligible census tract in New Castle County. Eligible tracts include areas in Bear, Christiana, Claymont, Newark, Newport, and New Castle.

How to Apply for New Castle County IDEA Down Payment Program

Notes

IDEA stands for Innovative Development Empowerment Area. Income limit of 120% AMI is higher than the standard DPS program (80% AMI). Eligible census tracts: 101.01, 101.04, 107.02, 127.00, 129.00, 138.00, 141.00, 142.00, 148.08, 149.03, 149.07, 149.08, 150.00, 152.00, 154.00, 155.02, 156.00, 158.02, 160.00, 162.00, 163.05.

Cities Where This Program Is Available

• Bear, DE
• Middletown, DE
• Newark, DE