WSFS Down Payment Grant Program

WSFS Down Payment Grant Program is a grant for homebuyers in New Castle, Kent, Sussex County, Delaware, administered by WSFS Bank (WSFS Mortgage). The WSFS Down Payment Grant Program provides up to $5,000 in non-repayable grant funds toward down payment and/or closing costs for buyers purchasing a primary residence in a Majority-Minority Census Tract within eligible Delaware counties (New Castle, Kent, Sussex). Household income must be at or below 100% of the census-tract AMI. The grant can be combined with other WSFS, community and government programs and pairs with a WSFS first mortgage. Up to $5,000 toward down payment and/or closing costs. No repayment required. Up to 6% seller's assist. Can be combined with the WSFS Neighborhood Opportunity Program and other assistance. Homebuyer education included. Funding comes from WSFS Bank Community Reinvestment program funds ($1.5 million committed for the 2025 award year).

WSFS Down Payment Grant Program offers up to $5,000 in assistance. The program can be combined with Can be combined with other WSFS, community and government down payment/closing-cost assistance programs, including the WSFS Neighborhood Opportunity Program. Amounts are the program's published maximums, not an offer — WSFS Bank (WSFS Mortgage) determines any individual award.

WSFS Down Payment Grant Program is structured as a grant, so it is not repaid. Repayment is triggered by No repayment required for awarded grant funds. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

WSFS Down Payment Grant Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Subject to WSFS mortgage underwriting / credit approval. A homebuyer education course is required, through WSFS homebuyer education program (offered as part of the affordable mortgage programs). Geographically restricted to Majority-Minority Census Tracts (MMCT) and capped at 100% of census-tract AMI; the grant is reported to the borrower on a 1099-MISC. Annual funding is limited ($1.5M for 2025) and awarded while funds last. Bank-specific (WSFS only). Lien position, credit score, DTI and max purchase price set by WSFS underwriting and not published (left null).

WSFS Down Payment Grant Program limits household income to 100% of the area median income, which varies by county and household size. Total household income cannot exceed 100% of the Area Median Income (AMI) of the census tract, based on HUD's published 1-to-4 household-member Area Median Income. 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.

WSFS Down Payment Grant Program can be used for Single Family, Townhouse, and Condo.

WSFS Down Payment Grant Program serves homebuyers purchasing in New Castle, Kent, Sussex County, Delaware.

Applications for WSFS Down Payment Grant Program go through WSFS Bank (WSFS Mortgage), which publishes the current terms and the application steps on its own site. Funds are reserved through Grant funds are awarded while funds last during the award program year; WSFS leverages other down payment/closing-cost grant programs before deploying WSFS grant funds. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.