Rebuilding a Community
New Castle County was awarded $11.3 million in funding by the Delaware State Housing Authority through the U.S. Department of Housing and Urban Development (HUD) to purchase and rehabilitate homes in many communities hardest hit by the foreclosure crisis.
Neighborhood Stabilization Program
The Neighborhood Stabilization Program has acquired over 60 of these vacant and foreclosed homes in the following zip codes:
Each home has been extensively rehabilitated and updated with various green technology improvements to provide new owners with long-term affordability.
Must fall below 120% Area Median Income ($94,550 for a family of 4)
Complete eight hours of HUD approved housing counseling
Buyers may qualify for special down payment and settlement assistance programs available for these properties. Interested home buyers can call 302-395-5618 for more program information.
Vacant Homebuyer Assistance Program III (VHAPIII)
Eligible home buyers may qualify for a 0% interest, deferred loan of 6% of sale price (up to $8,000) for down payment and settlement assistance. This program has been created to address the issue of long-term vacant homes in communities throughout New Castle County and stimulate sales of these properties.
All properties must be seller certified as 90+ days vacant