Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Delaware

Delaware Mortgage Calculator

Set to Delaware’s own property tax rate of 0.47% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($74,400)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$2,151
Monthly payment
$1,897
Principal & interest
$146
Taxes
$109
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $297,600 Interest paid $385,219
20262056
Total of 360 payments$774,319
Principal$297,600
Interest$385,219
Taxes$52,440
Insurance$39,060
HOA fees$0
P&I 88.2% Taxes 6.8% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$2,606/mo P&I
$171,394 total interest
30-year · current
$1,897/mo P&I
$385,219 total interest
The 15-year term saves $213,825 in interest. Which term is right for you?

What these numbers come from

Median home value
$371,600
Median tax bill
$1,750
Effective tax rate
0.47%
Rank of 51
44th highest

Delaware taxes property at about 0.47% of value against 0.89% nationally. On a $372,000 home that is $130 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Delaware home prices

20% down, 30-year fixed at 6.58%, with Delaware property tax of 0.47% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$223,000 $178,400 $1,137 $87 $1,289
$297,000 $237,600 $1,514 $116 $1,717
$372,000 median $297,600 $1,897 $146 $2,151
$465,000 $372,000 $2,371 $182 $2,689
$557,000 $445,600 $2,840 $218 $3,221

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Delaware taxes alone add $146 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $265 $1,632 $254 $297,335
Sep $266 $1,630 $254 $297,069
Oct $268 $1,629 $254 $296,801
Nov $269 $1,627 $254 $296,532
Dec $271 $1,626 $254 $296,261
2026 $1,339 $8,145 $1,271 $296,261
Jan $272 $1,624 $254 $295,989
Feb $274 $1,623 $254 $295,715
Mar $275 $1,622 $254 $295,440
Apr $277 $1,620 $254 $295,163
May $278 $1,618 $254 $294,885
Jun $280 $1,617 $254 $294,605

Refinancing in Delaware

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Delaware home loans in detail

Delaware Mortgage Overview

Delaware is the second smallest state in the United States and is also one of the only states with no sales tax. Its median house price is around $250,000 and almost 75 percent of the homes in Delaware are owner-occupied

If you're thinking of moving to Delaware, there are great first-time homebuyer programs available.

Delaware conventional loans

Borrowers with great credit and low outstanding debts may qualify for a conventional loan. These loans aren't backed by the government, so borrowers pay Private Mortgage Insurance if they make less than a 20 percent down payment, but the low interest rates and closing costs are worth it. You can cancel PMI once you owe less than 80 percent of the home's value.

Delaware FHA loans

Borrowers with a lower credit score may do better with FHA financing. FHA loans require just a 580 credit score and a 3.5 percent down payment. Borrowers with a lower credit score may qualify too if they have at least 10 percent down on the home. FHA loans have flexible underwriting requirements, but require mortgage insurance for the life of the loan.

Delaware VA loans

Veterans of the military or any current military member with at least 181 days served may qualify for 100 percent VA financing. With no down payment, veterans need just a 620 credit score and 'decent' debt ratios to qualify. VA loans don't require monthly mortgage insurance either.

Delaware USDA loans

Borrowers looking to live in rural parts of Delaware and who don't make over 115 percent of the area's median income may qualify for a USDA loan. This loan program doesn't require a down payment and has low interest rates and closing costs. USDA loans require monthly mortgage insurance, but it's not as high as other programs.

First-Time Homebuyer Programs in Delaware

The Delaware State Housing Authority has a few great programs for first-time homebuyers:

DSHA Homeownership Loans

The DSHA homeownership loans offer lower interest rates for borrowers with low to moderate-income levels. Borrowers need a 620 credit score and max debt ratio of 45 percent. All borrowers must attend homebuyer education courses.

Down payment assistance

Borrowers using the DSHA homeownership loan may also use the Preferred Plus Assistance program which provides money for the down payment and/or closing costs. The funds are a second loan with no interest and due when you refinance the mortgage or sell the home. Borrowers may get as much as 2 to 5 percent of the sales price for down payment assistance.

Home for grads

Borrowers who recently graduated college (within the last 3 years) with a 4-year degree may qualify for a mortgage rate that's half a percent less than traditional rates.

Delaware mortgage FAQ

How much is property tax on a home in Delaware?
Delaware homeowners pay an effective property tax rate of about 0.47 percent of home value — the 44th highest of the 50 states and DC. On the state's median home value of $371,600 that works out to roughly $1,748 a year, or $146 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Delaware home?
At $372,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,897 a month. Adding Delaware property tax of roughly $146 a month and an estimated $109 of homeowner insurance brings the full payment to around $2,151.
What are the main mortgage options for Delaware buyers?
Delaware buyers can choose conventional loans with low rates and PMI that cancels once you owe under 80 percent of the home's value, FHA loans with a 580 credit score and 3.5 percent down or 10 percent down for lower scores, VA loans giving veterans 100 percent financing with a 620 score and no monthly mortgage insurance, and zero-down USDA loans for rural buyers under the income limits.
What homebuyer programs does the Delaware State Housing Authority run?
The Delaware State Housing Authority offers DSHA Homeownership Loans with lower rates for low to moderate-income buyers who have a 620 credit score and a debt ratio of 45 percent or less. The Preferred Plus Assistance program adds 2 to 5 percent of the sales price as an interest-free second loan, and Home for Grads gives recent college graduates a half-percent rate discount.
What credit score do Delaware lenders look for?
FHA loans in Delaware accept a 580 credit score with 3.5 percent down, and lower scores may still qualify with 10 percent down. VA loans look for around 620, DSHA homeownership loans require a 620 score with a maximum 45 percent debt ratio, and conventional loans favor borrowers with strong credit and low outstanding debts.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.