Mortgage for Delaware (2026)
Delaware (DE) Key Facts
Median Home Price
$340,000
Average Property Tax Rate
0.57%
Average Home Insurance Rate
0.5%
Estimated Monthly Payment
$2,288
First Time Buyer Programs
2
How This Calculator Works in Delaware
This mortgage calculator lets you estimate your monthly payment on a Delaware home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Delaware's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Delaware Overview
Delaware has a median home price of approximately $330K, with an average property tax rate of 0.57% and homeowners insurance averaging 0.5% annually. Realty transfer tax of 4% split buyer/seller. DSHA Homeownership Loan program and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates, and an attorney is required at closing for legal oversight.
How Delaware Compares
Compared to neighboring states, Delaware's median home price of $340,000 is below the national median of about $420,000. Nearby Maryland has a median price of $400,000 with a 1.07% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Maryland | $400,000 | Median home price is $400,000 with a 1.07% property tax rate. Estimated monthly mortgage payment is about $2,875. |
| Pennsylvania | $275,000 | Median home price is $275,000 with a 1.58% property tax rate. Estimated monthly mortgage payment is about $2,093. |
| New Jersey | $470,000 | Median home price is $470,000 with a 2.49% property tax rate. Estimated monthly mortgage payment is about $3,934. |
The median home price in Delaware is $340,000, compared to the national median of approximately $420,000. With a 0.57% average property tax rate and 0.5% insurance rate, Delaware homeowners can expect an estimated monthly payment of about $2,288 on a median-priced home with 10% down at 6.75% interest.
Tips for Delaware Residents
- 1Delaware has a median home price around $330K. Realty transfer tax of 4% split buyer/seller. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Delaware average 0.57%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore DSHA Homeownership Loan program for potential down payment assistance and favorable rates. Delaware also offers DSHA Welcome Home Program. Check income limits and eligibility early in your home search.
- 4Attorney required at closing; relatively moderate home prices for the Mid-Atlantic. Delaware requires an attorney at closing, which adds cost but provides legal protection during the transaction.
- 5No sales tax but property taxes apply. A 0.25% rate difference on a $340K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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