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New Castle County ReVaMP Program

Delaware

Available Assistance

ReVaMP helps to cover the down payment and closing costs for individuals buying a vacant home in New Castle’s identified areas. These funds are provided in the form of a zero-interest, 5-year deferred loan of up to $5,000. As long as the borrower resides in the home for 5 years, the entire loan amount is forgiven.

Eligibility Requirements

Unlike most down payment assistance programs, there is no first-time homebuyer requirement in this case. However, there are some other requirements that all applicants must meet to be considered eligible for the ReVaMP program. Borrowers’ annual household income must fall at or under 120 percent of the area median income for New Castle County (limits shown below). Additionally, all applicants must show attend and complete a Homeownership Education Program at a New Castle housing counseling agency that is approved by HUD.

Property Guidelines

Eligible properties must not exceed the maximum selling price of $379,500, and must be located in the program’s identified areas, including the following Census Tracts: 101.01, 101.04, 103.00, 105.02, 107.02, 120.00, 121.00, 122.00, 123.00, 124.00, 125.00, 127.00, 129.00, 130.00, 132.00, 134.00, 136.07, 136.09, 138.00, 139.02, 140.00, 141.00, 147.03, 147.05, 148.08, 149.02, 149.03, 149.05, 150.00, 151.00, 152.00, 154.00, 155.00, 158.00, 159.00, and 164.04.

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