Inventory in Delray Beach sits at just 2.1 months—well below the 6-month balanced market—so bidding wars are routine on anything priced within $50,000 of the median. Condos along the Intracoastal are appreciating fastest (14% annually) because new HOA reserves legislation has reassured skittish lenders. Single-family homes east of Swinton average 38 days on market, while homes west of Military Trail linger for 52 days, giving buyers a slight negotiation window.

Key stats to frame your offer:

• Median list-to-close ratio: 98.6% (sellers rarely drop price)
• Average down payment for NMHL closed buyers this quarter: 8.2%
• Cash sales still 34% of transactions, but down from 48% last year as mortgage rates stabilized

If you’re pre-approved through NMHL’s Lightning-Pre program, we’ll attach a fully underwritten file to your offer, making you functionally as strong as a 30-day cash deal at no extra cost.

First-time buyers flock to Country Manors and Kings Point for their solid block homes, decent HOA amenities, and prices that pencil out at $1,900/month all-in with 3% down. Rentals here fetch $2,300, so you immediately cash-flow positive if you decide to convert to investment later.

Young professionals who bike to Atlantic Avenue bars prefer Tropic Isles, a 1950s subdivision where canal-front fixer-uppers start at $425,000. NMHL’s FHA 203(k) renovation loan bundles purchase and up to $75,000 of upgrades at one 3.5% down payment—perfect for adding impact windows and a new kitchen before you move in.

Families prioritizing schools look at Del Ida Park where 1950s ranch homes on ¼-acre lots trade between $475,000–$525,000 and feed A-rated Orchard View Elementary. Because lot depths can accommodate pools, you’ll compete with cash flippers; make sure your NMHL pre-approval is dated within 10 days to stay in the hunt.

Palm Beach County’s millage rate for City of Delray residents is roughly 18.3 mills, translating to 0.90% of assessed value—lower than Broward but higher than Martin County. A $480,000 homesteaded property will carry a tax bill around $4,320 after the $50,000 exemption, plus $1,200 for garbage and fire assessments.

Florida’s Save-Our-Homes 3% annual cap keeps tax growth predictable. If you’re moving from another Florida county, portability lets you transfer up to $500,000 of accumulated homestead benefit, instantly shaving thousands off your new tax bill. NMHL’s loan estimate will itemize taxes using the actual parcel ID so your escrow isn’t under-reserved at closing.

Investors buying east-side condos should note the city’s short-term rental ordinance: no less than 30-day leases in most residential zones, so underwrite your debt-service with long-term rental comps even if Airbnb numbers look juicier.

Beyond the county SHIP dollars, Florida Housing Finance Corp revived its Florida Assist $10,000 deferred second mortgage at 0% interest, repayable when you sell or refinance. Combine it with HFA Preferred conventional 3% down and you’re in a house for roughly $6,000 out-of-pocket on a $300,000 purchase—perfect for condos in Downtown Delray.

NMHL also participates in the Community Seconds program that allows qualified buyers to layer city, non-profit, or employer assistance behind any FHA or conventional first mortgage. We recently closed on a $425,000 townhouse in Bermuda High West where the buyer—a city parks employee—used $25,000 in combined city and employer funds and walked into closing with a $500 personal check.

Teacher, nurse, first-responder? Ask about the Good Neighbor Next Door revival pilot—Delray’s HUD-acquired homes list is short, but when inventory pops you can buy at 50% of appraised value with just $100 down payment.

With VA loan limits eliminated, Palm Beach County veterans can buy well above the median without a down payment. A retired Master Gunnery Sergeant just closed on a $650,000 canal home in Tropic Palms using a VA zero-down loan at 6.25%—30-year fixed, no PMI, and seller paid $15,000 of closing costs.

Delray’s Basic Allowance for Housing (BAH) for an E-5 with dependents is $3,048, enough to cover PITI on a $480,000 home. Because the VA caps the borrower’s funding fee at 3.3% after the first use, your monthly is still cheaper than conventional 3%-down with PMI.

NMHL is proud to waive the $1,195 underwriting fee for all active-duty and veterans, and we’ll accept a Certificate of Eligibility emailed from your phone—no DD-214 hard copy required. We close VA loans in an average of 22 days, beating most cash competition in Delray’s spring season.

If your credit report still shows a 2019 short sale or a car repossession during the lockdowns, NMHL’s Fresh-Start non-prime program allows FICO scores down to 550 with as little as 15% down. Last month we closed a $380,000 purchase on a 3-bed in Rainberry Woods for a borrower at 567 mid-score, 18% down, 8.99% fixed for 30 years—still $400 cheaper than the $2,650 rent they were paying on Atlantic Ave.

We accept one year of canceled rent checks in lieu of traditional credit, and we’ll disregard medical collections under $5,000. After 24 months of on-time mortgage payments, most borrowers refinance into a conventional or FHA Streamline at today’s lower rate, wiping out the higher Fresh-Start note.

Self-employed with recent credit dings? Combine Fresh-Start with our 12-month bank-statement income calculation. A Delray caterer with $1.2 million in annual deposits qualified for a $550,000 loan even after her net income on Schedule C showed only $42,000.