Areas We Serve
Griffin Funding is ready to find you the perfect home loan throughout Delaware. We are Delaware mortgage lenders, serving home buyers across Delaware, in areas including:
- New Castle
We know what it takes to secure Delaware mortgage loans with competitive rates, and our loan specialists are ready to talk to you about your options. We offer traditional mortgage loans, bank statement loans, DSCR loans, VA loans, and more for buyers throughout the state of Delaware. We are Delaware mortgage lenders committed to serving each client we work with to secure a mortgage that you can afford each month.
Types of Mortgage Loans Available in Delaware
Griffin Funding offers Delaware mortgage loans that give you the flexibility you need when purchasing a new home. You can secure a traditional fixed-rate mortgage, one that has an adjustable rate, utilize a jumbo loan to purchase property, or an investment property loan. For home buyers that qualify, an FHA loan for first-time home buyers allows you to have a much lower down payment to purchase your new property.
Fixed-rate mortgages are the most traditional mortgage loans in Delaware, where the rate of your loan doesn’t change throughout the lifespan of the term. If Delaware mortgage rates are low, a fixed-rate mortgage may be your best option.
When you choose an adjustable-rate mortgage through Delaware mortgage lenders, this gives you some flexibility. If interest rates fall, the rate on your adjustable-rate mortgage can fall too. Understand that adjustable-rate mortgages will increase and decrease your mortgage payments, as your interest rate will fluctuate along with the market.
Non-QM Mortgage Loans in Delaware
Griffin Funding offers Non-QM loans so that you can purchase a Delaware home, even when you don’t have the ability to prove your income in traditional ways. Non-QM mortgage loans such as the ones below offer you flexibility when you have qualifying income:
- Bank statement loans in Delaware
- Jumbo loans with 10% down
- DSCR no income mortgage
- Asset-based loans
- Foreign national loans
- Interest-only loans
- Recent credit event loans
- 6 month SOFR loans
Work with a loan specialist at Griffin Funding, your Delaware mortgage lenders, to find the right mortgage to meet your goals. Secure the funding you need for your new home, and qualify for a mortgage through Griffin Funding using our simplified process.
How to Apply for a Mortgage Loan in Delaware
The mortgage loan application process with Griffin Funding is simplified, to make securing Delaware mortgage loans easier. It is a 3-step process that is laid out below:
- Apply online: At Griffin Funding, we provide a simple and straightforward online loan application on our website. In just 10-15 minutes, you can fill out an online loan application and gain more insight into your eligibility for a loan.
- Get approval: Within 24 hours of filling out a loan application, our team will reach out with an offer that proposes the terms of the loan. This is a written offer that’s organized in a way that makes it easy to understand.
- Loan is funded: Once you accept the terms of the loan and give final approval, your loan can then be funded. While many lenders take weeks to fund a loan, we fund your loan in a matter of days. The final loan is funded through escrow and funds are wired to you directly.
How Much Does a Home in Delaware Cost?
The home value index in Delaware has risen 13% in the last year, to almost $360,000 as the established home value average. The cost of the home you purchase will depend on many factors, and the average is simply a guide to what you can expect to pay for a home in Delaware.
The location of the property you want to purchase, any updates that are needed, the size of the home, and other factors all determine the price. Of course, economic conditions will also have a large impact on the price of the home you wish to purchase and the mortgage rates in Delaware. Reach out to Griffin Funding to discuss the competitive interest rates we currently offer in Delaware.
What Credit Score Is Needed to Buy a House in Delaware?
Although Griffin Funding is able to secure a Delaware home loan for most buyers with a credit score of 580 or higher, it is best to get your credit score as high as you can in order to secure financing. A credit score of 580 is usually a minimum score. With a high credit score, it will be easier to secure a loan with a low interest rate and favorable terms.
How Much Is the Down Payment for a House in Delaware?
When you purchase a Delaware home with a traditional mortgage, you can generally expect to pay a 10-20% down payment to secure the home. The down payment varies, depending on the overall cost of the home you are buying.
Your down payment also depends on the type of loan you apply for. At Griffin Funding, we provide a wide range of Delaware mortgage loans with varying down payments and competitive rates. We offer VA loans with no down payment, bank statement loans for as little as 10% down, DSCR loans for as little as 20% down. Reach out to learn more about the different types of mortgage loans we offer.
Apply for a Mortgage Loan in Delaware
Griffin Funding is ready to talk to you about Delaware mortgage loans and the Delaware mortgage rates available today. Learn more about our simplified loan process, and secure your financing to purchase the perfect home for your needs.