Delaware, the first state to join the union, is not just rich in history but also in opportunities for affordable housing through HUD housing loans. The state's commitment to providing affordable housing options is evident in its robust support for HUD programs. These loans offer a lifeline to many residents, enabling them to secure a place they can call home without breaking the bank.

Delaware's housing market is a blend of urban and suburban landscapes, with a mix of single-family homes, apartments, and townhouses. The state's housing market has faced challenges in recent years due to rising home prices and a shortage of affordable housing options. However, HUD housing loans have played a significant role in mitigating these challenges, providing financial assistance to low-income families and individuals.

State Housing Market Overview

The housing market in Delaware is characterized by its diversity and resilience. Despite the economic downturns, the market has shown remarkable resilience, with home values steadily appreciating over the years. However, this growth has also led to affordability challenges for many residents, particularly those with low to moderate incomes. The median home value in Delaware is higher than the national average, making it difficult for many residents to become homeowners.

Addressing these challenges, the state has embarked on several housing developments and projects aimed at increasing the availability of affordable homes. These initiatives, backed by HUD and state housing authorities, are designed to provide affordable housing options for residents while also stimulating economic growth within the state.

Economic Landscape and Demographic Trends

Delaware's economy is diverse, with key sectors including finance, manufacturing, and healthcare. The presence of significant educational institutions and healthcare facilities has also contributed to the state's economic stability. However, economic disparities exist, with some areas experiencing higher levels of poverty than others. These disparities have a direct impact on the housing market, influencing both demand and affordability.

Demographically, Delaware is experiencing shifts that are reshaping its housing needs. The state's population is aging, with a growing number of retirees seeking affordable housing options. At the same time, there's an influx of young professionals attracted by job opportunities in the state's thriving sectors. These demographic trends underscore the importance of HUD housing loans in ensuring that all residents have access to affordable housing.

Today's Interest Rates in Delaware

Find today's rates in the table below.

Please note that these are only benchmark index rates — each loan product will have a rate that varies depending on the property, the location, the borrower's financial strength and experience, and several other factors.

Our Experts

When it comes to getting a HUD loan for your multifamily property, there are several amazing options. The names of the loans themselves are not particularly descriptive, however — more alphabet soup than proper name — yet they have major differences in purpose, eligibility, and terms.

Our team connects you with lenders across the U.S. to find the best financing terms for your property, even if that ends up being outside the world of HUD financing. It doesn't matter if you're buying or building, renovating or expanding, shopping your loan to multiple lenders puts you in a strong position to pick the financing terms that meet your needs.

Our experienced team of capital markets advisors will source the very best terms from our unparalleled network of lenders to ensure your property gets the best financing terms available. We offer this service completely free of charge.

Looking for more information about Delaware? Read on below. Otherwise, click the button below, and we'll get right back to you with your free multifamily loan quote.

Current HUD Multifamily Loans in Delaware

There are a wide range of HUD financing options for multifamily properties in Delaware. Keep reading to learn which one could be the most suitable for your property.

HUD 223(f) Loans

A HUD 223(f) loan is an extremely versatile financing option that can be used for the acquisition or refinance of a multifamily property with more than five units. With long, fully amortizing terms, fixed interest rates and high LTVs, these loans can be the ideal financing vehicle to acquire a multifamily property.

HUD 221(d)(4) Loans

The HUD 221(d)(4) loan is the highest-leverage, lowest-cost construction loan available for a multifamily development. Offering terms of up to 43 years at a fixed interest rate, this financing is extremely popular with developers for good reason. During construction, the loan is interest-only (for up to three years), and upon completion the note has a fully amortizing, 40-year term.

HUD 223(a)(7) Loans

Fast isn't what most people might think of when they think of getting a HUD multifamily loan. However, a HUD 223(a)(7) loan offers both speed and simplicity, with fewer reports and documentation needed. At the same time, this program offers loans with lengthy, fully amortizing terms, and low, fixed rates in a non-recourse package.

Note that while a HUD 223(a)(7) loan can be a wonderful option, it is only available for properties with existing HUD multifamily debt.

HUD 241(a) Loans

If you need supplemental financing for your apartment building in Delaware, a HUD 241(a) loan could be a great option. These loans are non-recourse and offer financing at a loan-to-cost ratio of 90% for for-profit entities and 95% for nonprofits. You need an existing HUD loan on your apartment building or healthcare property to qualify.

Interest rates are fixed, and the loan's term length typically will match the term of the senior HUD loan on the property, though in many cases this term can be extended up to 40 years.

HUD 232/223(f) Loans

HUD's healthcare property loan, the 232/223(f) loan, is similar to the previously mentioned HUD 223(f) financing option. Useful for purchasing or refinancing healthcare properties (including skilled nursing and assisted living facilities), the loan does have some restrictions in terms of commercial space. However, the benefits of a 35-year, fully amortizing term at a fixed rate is unparalleled in the healthcare sector.

Think a HUD multifamily loan could be right for your property in Delaware? Add your details to the form below, and we’ll match you with the best lender — and loan — for your investment strategy.

Multifamily Property Insurance in Delaware

This part isn't about loans, but it's just as important to your investment's success: insurance.

Multifamily insurance premiums have shot through the roof over the past few years, as I'm sure you know. Whether you own (or plan to own) a market-rate apartment building or an affordable housing property, this will have a huge impact on your profitability — and, worst case, ability to operate at all.

Janover Insurance Group is dedicated to finding the best insurance solutions for your multifamily property in Delaware, regardless of if it's affordable housing or if you're using a HUD loan. Click to get a free insurance quote for your property — no obligation whatsoever.