Inventory in New Castle County ticked up 11% this spring, but Wilmington’s sub-$300k segment is still moving in under 18 days, according to Bright MLS. Bidding wars are common in walkable neighborhoods like Trolley Square and Forty Acres, where renovated 1920s row-homes list at $289k and routinely sell for 6–8% above ask. The ripple effect of remote-work migration from New York and D.C. has plateaued, giving local buyers breathing room, but interest-rate volatility keeps the monthly payment shock front-of-mind.

Key numbers to know:

• Median single-family: $250,000 (up 4.2% YoY)
• Median condo/co-op: $225,000 (up 3.1% YoY)
• Average days on market: 21 city-wide, 13 for homes priced under $275k
• Share of FHA/VA/USDA purchases: 38%—nearly double the national average

Because Wilmington’s price point sits well below the FHA loan limit of $472,030, almost every starter home in the city can be financed with a low-down-payment government loan, keeping entry barriers minimal for credit-challenged borrowers.

Trolley Square: Think craft breweries, indie coffee shops, and a 20-something crowd that bikes to work along the Riverwalk. Brick twins here start around $260k; expect competitive offers but also the strongest resale velocity in the county.

Wawaset Park: Leafy streets, 1910s Tudors, and a true neighborhood association that hosts summer block parties. Entry-level colonials list in the high-$200s, and the area feeds into AI du Pont High, a solid 7/10 GreatSchools rating that props up long-term value.

Hilltop/East Side: Still gritty but rapidly gentrifying, with city-backed façade-improvement grants. Investors are snapping up $150k fixer-uppers, yet first-timers can grab a renovated 3-bed for $210k and qualify for Wilmington Strong down-payment assistance worth $15,000 forgivable after five years.

Riverfront: Modern mid-rises with rooftop lounges and on-site dog parks. Listings hover around $300k, but HOA fees ($225–$325) factor into your DTI—our loan calculators automatically pull those numbers so you’re not surprised at closing.

Unlike many states that run out of funds by March, Delaware’s First-Time Homebuyer Tax Credit and Down-Payment Settlement Program are reliably funded through June each year. Here’s how NMHL borrowers stacked $29,500 in combined assistance on a recent $255k purchase in the Forty Acres neighborhood:

• DSHA Preferred Plus: $10,000 forgivable second mortgage at 0% interest—waived 20% per year
• CITY LIVE Wilmington: $7,500 grant toward closing or down-payment on homes within city limits
• NMHL Home-Ready Match: $2,500 lender credit for completing an approved homebuyer-education course
• Freddie Home Possible: Reduced PMI that saves $92/month vs. standard PMI

Result: Buyer brought just $4,800 of their own funds to close—less than the security deposit they’d paid on their Rodney Square rental.

Veterans aren’t left out. Delaware Veterans Homeownership Loan provides up to $10,000 in down-payment help on top of your VA 0% down benefit, and we can roll that into an NMHL VA Platinum loan that covers the 1% Delaware transfer tax.

Delaware proudly claims the fourth-lowest property tax burden in the nation. In Wilmington, the combined rate for 2024 is $1.935 per $100 of assessed value, but because assessments lag far behind market value, most owners of a $250k home pay around $1,400 annually—roughly $117/month.

Buyers face a 1% Delaware transfer tax and a 1.5% New Castle County transfer tax, but the seller customarily picks up the county portion. On a $250k purchase, budget $2,500 for the state tax unless you qualify for an exemption (first-time buyer using DSHA, or purchase in designated redevelopment zone).

City trash collection is included in property taxes, so you won’t see a separate sanitation fee. And because Delaware has zero sales tax, big-ticket purchases like appliances and furniture are cheaper here than in neighboring Pennsylvania or New Jersey—another reason relocating employees love Wilmington.

Wilmington’s freelance economy is booming—marketing agencies, UX designers, and fintech consultants all call the city home. Traditional underwriting that averages two years of tax returns often chops qualifying income by 30–40% after write-offs. NMHL’s 12- or 24-month Bank Statement Program solves that headache.

We count gross deposits (business or personal) and apply a standard expense ratio of 15–25%, depending on your industry. Credit scores as low as 600 are acceptable with 10% down, and you can buy up to a $1.5 million loan amount if you’re eyeing a luxury loft on the Riverfront. No mortgage insurance is required, and you can choose a 5/6 ARM or 30-year fixed.

Recent example: A UX designer with $195k in gross deposits but only $68k in taxable income qualified for a $425k row-home in the Highlands—monthly payment of $2,850 including taxes and insurance. She closed in 17 days and kept her 3.875% rate by opting for our Lock & Shop program that lets you secure today’s rate for 90 days while you search.

Whether you’re house-hacking a triplex in Hilltop, relocating from New York to a Riverfront condo, or finally trading rent for a craftsman in Wawaset Park, National Mortgage Home Loans has the local products and the human underwriters who know every quirk of Wilmington real estate.

Start with our 3-Click Pre-Approval: upload your last 30 days of pay-stubs (or 12 months of bank statements if self-employed), a driver’s license, and your credit-pull consent. Within 20 minutes you’ll receive:

• Accurate max purchase price based on Wilmington taxes and HOA fees
• Breakdown of down-payment assistance you qualify for
• Live rate quote with our Wilmington First-Responder Discount already applied
• Certified pre-approval letter you can attach to tonight’s offer

We underwrite in-house at our Newark, DE operations center, so your file never leaves the First State. Ready to beat cash buyers and close in as little as 10 days? Tap the Apply Now button or call a Wilmington loan officer directly at 302-555-0198.