Milford Housing Development Corporation Self-Help Housing Program

What is Milford Housing Development Corporation Self-Help Housing Program?

Milford Housing Development Corporation Self-Help Housing Program is down payment assistance for homebuyers in Milford, Delaware, administered by Milford Housing Development Corporation (MHDC).

• MHDC, Delaware's leading nonprofit affordable housing developer (founded 1977), operates a Self-Help Housing program in which groups of income-qualified families build each other's homes alongside a construction trainer. Sweat equity (roughly 25 hours/week for about 12 months) serves as the down payment, and special USDA financing (Section 502 / Mutual Self-Help) makes the new, energy-efficient single-family homes affordable with little to no money down.
• Little to no money down via sweat equity.
• Affordable USDA financing.
• New energy-efficient homes.
• Statewide rural coverage.
• Ongoing homeownership coaching.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from USDA Rural Development (Section 502 / Self-Help / Mutual Self-Help Housing); federal and state housing programs.

Do you have to pay it back?

Milford Housing Development Corporation Self-Help Housing Program is down payment assistance and is repaid under the terms set by Milford Housing Development Corporation (MHDC).

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Milford Housing Development Corporation Self-Help Housing Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Milford Housing Development Corporation Self-Help Housing Program sets its income limit as follows: Eligibility based primarily on household income aligned with AMI guidelines that vary by location and household size; targeted to low- to moderate-income families.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Milford Housing Development Corporation Self-Help Housing Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Milford Housing Development Corporation Self-Help Housing Program is a federal program, so it is not limited to Delaware.

• The program targets specific areas: USDA-eligible rural areas of Delaware.

How do you apply?

Applications for Milford Housing Development Corporation Self-Help Housing Program go through Milford Housing Development Corporation (MHDC), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through MHDC personal coaching, action plans, monthly workshops, and group discussions; orientation.

2. 2

   Contact Milford Housing Development Corporation (MHDC) to reserve funds

   Funds are reserved through Orientation required (call to reserve a seat); application/coaching process, and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.