Governor Jack Markell, joined by DSHA Director Anas Ben Addi, Major General Frank Vavala and Dover Mayor Carleton Carey today celebrated Homeownership Month and honored participants in the newly-launched state initiative Loans for Heroes. This program offers a reduction of one-half percentage point below the current mortgage rate to qualified veterans who obtain financing through DSHA. The rate reduction is made available through a special DSHA set-aside of $5 million and all first mortgage loan products available through DSHA are eligible for this rate reduction (e.g., VA, USDA, FHA, or conventional).
"Creating housing opportunities for all Delawareans is an integral part of building a strong economy here in the First State. Part of honoring our military means giving them a chance to invest in their future through homeownership," Governor Jack Markell said. "We want to ensure Delaware welcomes our returning military with open arms through homeownership, investment, and employment opportunities."
Major General Frank Vavala of the National Guard commented, "This is a unique initiative, and our veterans will benefit greatly from it. Service members and their families make so many sacrifices. This is one way we can thank and support them."
"We are always looking for innovative ways to provide all Delawareans with the opportunity to reap the many benefits of homeownership -- including the financial investment rewards that can be passed on to future generations," said DSHA Director Anas Ben Addi. "From reduced-rate mortgages to closing cost and downpayment assistance, there are numerous programs available to help Delawareans to achieve their homeownership goals."
Recent homebuyer Bridget Benson, veteran of the United States Army, commented on the new program, "I want very much to thank everyone involved in creating this program and for their support during my journey through the homeownership process, and for making it possible for me and my family."
Along with Loans for Heroes, DSHA offers qualified Delawareans reduced mortgage rates through its Homeownership Loan Program as well as closing cost and downpayment assistance through the Rebuilding Our Communities and Second Mortgage Assistance Loan programs. For more information on all of DSHA's homeownership programs visit: http://destatehousing.com/HomeOwnership/HomeOwnership.php
About the Delaware State Housing Authority
The Delaware State Housing Authority (DSHA), formed in 1968, is dedicated to providing quality, affordable housing opportunities and appropriate supportive services to responsible low- and moderate-income Delawareans. In addition to its role as the State's Housing Finance Agency, DSHA is unique in that it also serves as a Public Housing Authority and acts as a Community Development and Planning Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware's three counties. For more information about the Delaware State Housing Authority, please call: (302) 739-4263 or visit our website at: www.destatehousing.com.