Delaware conventional mortgage: limits, down payment math and the state rules
On Delaware’s rough $390,000 median, a conventional loan with 5% down means $19,500 at closing and about $2,759 a month with taxes and mortgage insurance; with 20% down, $78,000 and about $2,157. Everything below is worked on those numbers and on the state rules that change them.
| Conforming limit (2026, one unit) | $832,750 baseline — all 3 counties, no FHFA high-cost area |
|---|---|
| Median home price (approx.) | $390,000 — statewide order of magnitude |
| 20% down on the median | $78,000 down, loan $312,000, about $1,972/month P&I at 6.5% |
| 5% down on the median | $19,500 down, loan $370,500, about $2,342/month P&I + about $232 PMI |
| PMI ends (5% down, scheduled payments) | request at 80% after about 10 years and 4 months, automatic at 78% after about 11 years and 3 months |
| Property tax (effective) | about 0.57% — roughly $2,223 a year on the median |
| Closing practice | Attorney closing state |
How much house stays conforming in Delaware
Two numbers decide the question in Delaware: the 2026 conforming limit of $832,750 and the price you pay. Keep the loan at or under the limit — by price, by down payment, or with a conforming first plus a second lien — and you get Fannie/Freddie pricing and flexibility (3% down programs, automated underwriting, appraisal waivers). At the state median of $390,000, every scenario below is conforming. Every Delaware county is in the table below; see conforming loan limits and jumbo loans.
County-level loan limits in Delaware for 2026
FHFA sets the limit county by county, but for 2026 every one of Delaware’s 3 counties sits at the national baseline: $832,750 for a one-unit home, $1,066,250 for two units, $1,288,800 for three and $1,601,750 for four. The table is here so you can confirm your county rather than assume.
| County | 1 unit | 2 units | 3 units | 4 units |
|---|---|---|---|---|
| Kent County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| New Castle County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
| Sussex County | $832,750 | $1,066,250 | $1,288,800 | $1,601,750 |
Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.
Down payment and monthly payment, four ways
Illustrative 6.5% 30-year fixed rate, principal and interest only; mortgage insurance at typical market rates for each down payment (it varies with credit score); property tax at the state’s approximate 0.57% effective rate. Homeowners insurance and any HOA come on top. None of it is an offer.
| Down payment | Cash down | Loan | P&I | PMI (est.) | Property tax | Monthly total |
|---|---|---|---|---|---|---|
| 3% | $11,700 | $378,300 | $2,391 | $284 | $185 | $2,860 |
| 5% | $19,500 | $370,500 | $2,342 | $232 | $185 | $2,759 |
| 10% | $39,000 | $351,000 | $2,219 | $146 | $185 | $2,550 |
| 20% | $78,000 | $312,000 | $1,972 | — | $185 | $2,157 |
Below 20% down, the 3% and 5% programs (HomeReady, Home Possible, Conventional 97) have income or first-time conditions; see 3% down conventional loans.
When PMI ends in Delaware
Three dates matter: the month the balance hits 80% of the original price (you ask), 78% (the servicer must act) and the loan’s midpoint (cancellation regardless of value, if current). On Delaware’s median with 5% down at 6.5%, the schedule reaches 80% in about 10 years and 4 months; with 3% down, about 11 years and 1 months; with 10% down, about 7 years and 11 months. Over that time the 5% buyer pays roughly $28,768 in PMI at $232 a month.
The Delaware closing: costs and who runs it
Delaware requires a Delaware-licensed attorney to conduct or supervise real estate closings and to prepare the deed and mortgage, a rule the Delaware Supreme Court confirmed in 2000 when it found that a non-lawyer settlement company was engaged in unauthorized practice. The settlement attorney orders the title search, issues the title policy as agent and disburses at a wet-funded roundtable closing. Attorney settlement fees typically run in the low four figures on top of title premiums.
Delaware levies no mortgage recording tax and no intangible tax; the mortgage is recorded at the county Recorder of Deeds for a per-page fee. The realty transfer tax on the deed is 4% in most jurisdictions (2.5% state plus up to 1.5% county or municipal), customarily split between buyer and seller, with a reduction in the state portion for first-time buyers on the first $400,000 of price. A refinance therefore incurs recording fees only. Delaware’s realty transfer tax is 4% of the price (2.5% state plus 1.5% local), customarily split equally between buyer and seller; first-time buyers receive a reduction of 0.5% on the state portion for the first $400,000 of price.
The 4% transfer tax makes Delaware one of the most expensive states to close in: a buyer’s customary 2% share plus attorney and title fees often totals 4% to 5% of the price, reduced somewhat by the first-time buyer exemption.
State law a conventional borrower should know
Prepayment. Delaware’s lender-friendly code lets licensed lenders charge the interest and fees agreed in writing (5 Del. C. ch. The federal ability-to-repay rule caps penalties tightly and bans them on adjustable or higher-priced loans.
Spouses and title. Delaware is a separate-property state that abolished dower and curtesy; a spouse who is not on title has no automatic interest and is not required to sign the mortgage.
Homestead. Delaware had no homestead exemption until 2005; today 10 Del. C. § 4914(c)(1) protects $125,000 of equity in the principal residence from judgment creditors, an amount the legislature raised in 2012 and has left unchanged since.
The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in Delaware.
Frequently asked questions
What is the conforming loan limit in Delaware for 2026?
$832,750 for a one-unit home in every one of Delaware’s 3 counties: FHFA designates no high-cost area in the state for 2026. Above that figure the loan is jumbo. On the state’s $390,000 median, a 20% down loan of $312,000 is well inside the limit.
When can I cancel PMI on a conventional loan in Delaware?
The request point is 80% of the original value, the automatic point 78% — federal rules, identical in Delaware. With 5% down on the state’s $390,000 median at 6.5%, the amortization schedule alone gets you to 80% in roughly 10 years and 4 months; with 10% down, in about 7 years and 11 months. Paying extra principal shortens both.
Does Delaware add anything to a conventional loan’s closing costs?
Delaware levies no mortgage recording tax and no intangible tax; the mortgage is recorded at the county Recorder of Deeds for a per-page fee. Delaware’s realty transfer tax is 4% of the price (2.5% state plus 1.5% local), customarily split equally between buyer and seller; first-time buyers receive a reduction of 0.5% on the state portion for the first $400,000 of price. The 4% transfer tax makes Delaware one of the most expensive states to close in: a buyer’s customary 2% share plus attorney and title fees often totals 4% to 5% of the price, reduced somewhat by the first-time buyer exemption.
Delaware: where to verify
- Delaware State Housing Authority (DSHA): the agency that runs the state’s homebuyer programs
- Delaware Office of the State Bank Commissioner: state regulator of mortgage lenders and brokers
- NMLS Consumer Access: check any lender’s or loan officer’s license
- FHFA conforming loan limit files: the county limits shown on this page
Links checked September 22, 2026. Researched and edited by Clément Lacaille (Tech-Bharat); how we research.
Sources
Related: Loan-level price adjustments: why two borrowers get different rates on the same loan, Paying off your mortgage early: extra payments, biweekly plans and the actual math, Piggyback loans (80/10/10): a second mortgage instead of PMI, Appraisal waivers: how value acceptance and ACE decide you skip the appraisal. First home in Delaware: programs and assistance. Hub: Conventional loan.