Best of

Best Delaware State Housing Authority Lenders of 2019

NerdWalletJuly 15, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.

Min. Credit Score

620

Min. Down Payment

3%

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
National / Regional

National

Min. Down Payment

3%

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
Min. Credit Score

620

Min. Down Payment

3%

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
New American Funding

at New American

Min. Credit Score

620

Min. Down Payment

3%

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
Min. Credit Score

620

Min. Down Payment

3%

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

Summary of Best Delaware State Housing Authority Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Caliber

Caliber

veterans

620

3%

Read review
Fairway

Fairway

mobile convenience

N/A

3%

Read review
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

Fairway

mobile convenience

N/A

3%

Read review
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

More DSHA participating mortgage lenders

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

Pike Creek Mortgage Services

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

NVR Mortgage Finance

  • Offers the gamut of purchase mortgage products.
  • Allows borrowers to start their application online or in person.
  • Has only one office in Delaware.

Meridian Bank

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

Residential Mortgage Services

  • Offers a wide variety of mortgage types, including renovation loans.
  • Lets borrowers get pre-qualified and apply online.
  • Has seven offices in Delaware.

Prosperity Home Mortgage

  • Offers a variety of mortgages with low down payment requirements.
  • Provides an online pre-qualification and application option.
  • Has four branches in Delaware.

More from NerdWallet:

Last updated on July 15, 2019

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 Best Delaware State Housing Authority Lenders of 2019