By: Shaquilla Holmes- Real Estate Consultant
If you’ve been waiting for the right time to buy a home, that time might be now. At 607 W. 27th Street in Wilmington, Delaware, you’ll find a charming three-bedroom, one-and-a-half bathroom home that’s move-in ready, located on a beautiful tree-lined street – and perhaps most importantly, int’s affordable in ways that renting simply isn’t.
As your trusted Real Estate Consultant with Healthy Real Estate & Associates, I’m excited to highlight not just the home itself but the wide range of financing programs and grants available to help buyers get into this property with very little money down. In fact, with the right combination of programs, your out-of-pocket cost could be as low as $1,000 – less than most rental security deposits.
Financing Programs Available for 607 W. 27th Street
This home is eligible for multiple financing options that fit a variety of buyers’ needs, including:
Conventional, FHA, and VA loan programs through DSHA (Delaware State Housing Authority) – Each program comes with unique benefits like low down payments, competitive interest rates, and, in some cases, no money down (VA).
Neighborhood Opportunity Program (WSFS) – Offers affordable terms with no income restrictions, making it accessible to more buyers.
Grants & Assistance Programs:
WSFS Grant: Up to $5,000 available toward your purchase.
City of Wilmington Assistance: Closing cost and downpayment assistance are capped at the lesser of $15,000 or six percent (6%) of the property’s purchase price.
State of Delaware 2nd Mortgage Programs: Additional down payment and closing cost help (with income restrictions).
First Front Door Grant: Additional support (amount varies).
PNC Closing Cost Assistance Grant: Up to $10,000 toward closing costs, prepaid expenses, or your down payment if you qualify.
With these combined opportunities, many buyers could get into this home with less than the cost of rent.
What This Means for Your Monthly Budget
At the current listing price of $235,000, financing scenarios show monthly mortgage payments ranging from about $1,650 to $1,900 (including taxes, insurance, and mortgage insurance where applicable).
Compare that to the average rent in Wilmington, where three-bedroom rentals often exceed $2,000 per month. That means owning 607 W. 27th Street could cost you hundreds less per month than renting – all while building equity in your own home.
Added Peace of Mind: Pre-Home Inspection Available
Another advantage of this home is that a pre-home inspection is available upon request. That means you can feel confident knowing the seller has already taken steps to provide transparency about the home’s condition, making the buying process smoother and more reassuring.
Why 607 W. 27th Street is a Rare Find
3 Bedrooms, 1.5 Bathrooms – Space for family, guests, or a home office.
Tree-Lined Street – A neighborhood with character and charm.
Cheaper Than Renting – With grants and programs, you could move in with very little out-of-pocket, and your monthly payments are likely less than what you’d pay in rent.
Let’s Talk About Making This Home Yours
Buying a home doesn’t have to feel out of reach. With programs like the PNC $10,000 Grant, the City of Wilmington’s up to $15,000 in assistance, and multiple low down payment loan options, this home is one of the most affordable paths to homeownership in today’s market.
If you’re ready to explore how you can stop renting and start owning. Contact us to schedule your consultation today.
