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.

DSHA loans, paired with down payment and closing cost assistance, can reduce the upfront costs of buying a home.

To access these programs, you’ll need to work with a Delaware State Housing Authority participating lender. The DSHA maintains a list of participating lenders on its website, although it does not endorse lenders.

NerdWallet has reviewed some DSHA participating lenders and listed our top selections across several categories below. We’ve also included some participating lenders that aren’t rated by NerdWallet but are among the most active mortgage originators for the DSHA.

Summary of Delaware State Housing Authority Lenders of 2020

LenderNerdWallet Rating Minimum Credit Score Minimum Down PaymentLearn More

Caliber: NMLS#15622

Best for veterans

620

3%

Read review

Fairway Independent Mortgage: NMLS#2289

at Fairway

Best for mobile convenience

620

3%

at Fairway

Guaranteed Rate: NMLS#2611

Best for mobile convenience

620

3%

Read review

New American Funding: NMLS#6606

at New American

Best for borrowers with low or limited credit

700

3%

at New American

PrimeLending: NMLS#13649

Best for borrowers with low or limited credit

620

3%

Read review

Caliber: NMLS#15622

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

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

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state down payment assistance and first-time homebuyer programs.

Cons

  • No mortgage rates displayed online.

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
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at Fairway

Fairway Independent Mortgage: NMLS#2289

Logo

Min. Credit Score

620

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

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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
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at New American

New American Funding: NMLS#6606

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Min. Credit Score

700

Min. Down Payment

3%

National / Regional

National

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

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Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

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

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • 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.

  • 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.

  • 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.

  • Allows borrowers to apply for a mortgage online.

  • Doesn't publish mortgage rates on its website.

  • Options include FHA and VA loans.

  • Offers a wide variety of mortgage types.

  • Lets borrowers start a mortgage application online.

  • Has two mortgage offices in Delaware.

  • 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