Best of

Delaware State Housing Authority Lenders of 2020

NerdWalletJanuary 21, 2020

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The Delaware State Housing Authority, or DSHA, offers programs to make homeownership more affordable. Here are some of our picks for top DSHA mortgage lenders.

Summary of Delaware State Housing Authority Lenders of 2020

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

veterans

620

3%

Read review
Fairway Independent Mortgage

Fairway Independent Mortgage

at Fairway

mobile convenience

N/A

3%

at Fairway

Guaranteed Rate

Guaranteed Rate

mobile convenience

620

3%

Read review
New American Funding

New American Funding

at New American

borrowers with low or limited credit

620

3%

at New American

PrimeLending

PrimeLending

borrowers with low or limited credit

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

veterans

620

3%

Read review
Fairway Independent Mortgage

Fairway Independent Mortgage

at Fairway

mobile convenience

N/A

3%

at Fairway

Guaranteed Rate

Guaranteed Rate

mobile convenience

620

3%

Read review
New American Funding

New American Funding

at New American

borrowers with low or limited credit

620

3%

at New American

PrimeLending

PrimeLending

borrowers with low or limited credit

620

3%

Read review

Caliber: NMLS#15622

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Participates in some state down payment assistance programs.

  • Offers educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

Cons

  • No mortgage rates displayed online.

  • Must work with a loan officer for pre-qualification and preapproval.

Read Full Review
Logo

at Fairway

Fairway Independent Mortgage: NMLS#2289

Logo

National / Regional

National

Min. Down Payment

3%

at Fairway


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

Pros

  • A robust suite of loan products.

  • Licensed in all 50 states.

  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.

  • Mortgage rates not posted on website.

Read Full Review

Guaranteed Rate: NMLS#2611

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who are well-qualified.

Pros

  • Works with most borrowers as long as they have good credit scores and incomes.

  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.

  • Offers many products, which might confuse or overwhelm borrowers.

  • Several click-throughs required for personalized rates.

Read Full Review
Logo

at New American

New American Funding: NMLS#6606

Logo

Min. Credit Score

620

Min. Down Payment

3%

at New American


Why we like it

Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and helps borrowers whose credit histories don't fit the mold of traditional banking.

Pros

  • Uses manual underwriting to evaluate creditworthiness.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.

Read Full Review

PrimeLending: NMLS#13649

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with past credit issues and those looking for down payment and closing cost assistance programs.

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates.

  • Charges an origination fee.

  • Doesn't offer home equity products.

Read Full Review

More DSHA participating mortgage lenders

These participating lenders are among the highest-volume mortgage providers for the DSHA, but they haven’t been reviewed by NerdWallet.

Pike Creek Mortgage Services

  • Offers a variety of home purchase and refinance loans.
  • Allows borrowers to request a customized rate quote and apply online.
  • Has four offices in Delaware.

Meridian Bank

  • Offers loans with down payments as low as 3%, as well as renovation loans.
  • Doesn’t have an online application or rate information.
  • Has five branches in Delaware.

Huntingdon Valley Bank

  • Allows borrowers to apply for a mortgage online.
  • Doesn't publish mortgage rates on its website.
  • Options include FHA and VA loans.

Evolve Bank & Trust

  • Offers a wide variety of mortgage types.
  • Lets borrowers start a mortgage application online.
  • Has two mortgage offices in Delaware.

Primary Residential Mortgage, Inc.

  • Offers a variety of mortgages, including renovation and construction loans.
  • Borrowers can begin a preapproval application online.
  • Has one office in Delaware.

More from NerdWallet:

Last updated on January 21, 2020

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Delaware State Housing Authority Lenders of 2020