Sussex County Housing Trust Fund - Homebuyer Assistance
Program Highlights
Direct Homebuyer Assistance funding is available through the Sussex County Housing Trust Fund (SCHTF) and administered by the Sussex County Community Development & Housing Department (CD&H). Funds are available until December 31, 2024, or until funding has been exhausted.
Sussex County intends to use the Homebuyer Assistance funding to provide affordable homeownership opportunities to qualifying homebuyers in Sussex County.
TERMS & CONDITIONS
Direct Buyer Assistance may be used for down-payment and closing/settlement costs.
The household must maintain the home as their primary residence.
Liquid assets must not exceed $15,000 within 3 months of application.
Program is not limited to first-time homebuyers.
At the time of application and until settlement, applicants cannot own any real property other than current primary residence that is being sold prior to the purchase of residencial real estate for which applicant is seeking funds under the program.
Program can be used to purchase single-family homes, duplexes, townhomes, manufactured homes on permanent foundations, modulars, or new construction homes.
The home must be located in Sussex County, Delaware.
A Home Inspection is required for existing homes and a Certificate of Occupancy (CO) is required for new construction.
Homebuyer must complete at least 8 hours of pre-purchase homeownership counseling through a HUD-approved agency and receive a completion certificate.
Affordability Controls:
Buyer assistance will be secured as a soft second 0% interest prorated mortgage repayable only at the time of sale or transfer of the property and will not be subordinated unless there is adequate equity to cover the SCHTF assistance amount.
If no triggering events take place, the SCHTF mortgage shall be considered satisfied after a period of ten (10) years.
HOW TO APPLY
Contact a HUD-approved housing counseling agency to begin the process. The counselor will submit your application and income verification to CD&H on your behalf.
NeighborGood Partners, formerly known as NCALL Research | (302) 855-1370
First State Community Action Agency | (302) 856-7761
Interfaith Community Housing of Delaware | (302) 652-3991 x100
Neighborhood House | (302) 658-5404 x118
