Delaware Mortgage Calculator
Estimate your monthly mortgage payment in Delaware based on the state median home price of $355K, a 0.56% property tax rate, and $1K/year homeowners insurance.
Why This Matters in Delaware
In Delaware, property taxes average 0.56% of assessed value. On the state median home of $355K, that adds $166/month to your mortgage payment — well below the national average, giving you more purchasing power. Combined with $108/month for homeowners insurance, your non-mortgage housing costs in Delaware total $274/month before you even account for principal and interest.
Delaware's median home price of $355K is in the moderate range nationally. Most conventional loan programs with 5-10% down are well-suited for this price range.
What to Expect for a Mortgage Payment in Delaware
On the median Delaware home priced at $355K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $2,019 per month. Add $166/mo in property taxes and $108/mo for homeowners insurance, and the total PITI comes to approximately $2,293 each month. That median price sits about 1% above the national median of roughly $350K, which directly shapes how much house most Delaware borrowers can realistically target.
At $355K, Delaware's median home price falls in a moderate range nationally. Buyers have the full spectrum of financing options available: conventional loans at 5–20% down, FHA loans at 3.5%, and VA loans at 0% for eligible veterans. Putting 20% down ($71K) eliminates PMI and drops the monthly payment to roughly $2,069, saving about $224 per month compared to the 10%-down scenario.
Delaware homeowners benefit from a notably low property tax rate of just 0.56%, translating to about $1,988 per year on the median home. That is just $166 per month — a fraction of what buyers pay in high-tax states like New Jersey or Illinois. This lower tax burden effectively makes Delaware housing more affordable than the sticker price alone suggests.
Homeowners insurance in Delaware averages around $1K per year, which adds $108 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the DSHA Homeownership Loan program, which offers up to 5% preferred plus for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.