Delaware housing: Wilmington offers $10,000 to lure vacant-site buyers

The city of Wilmington is starting a new homebuyer aid program offering up to $10,000 to buyers of vacant property in the ZIP codes of 19801, 19802 or 19805.

The program has requirements, including meeting a June 30 application deadline and an August 31 closing deadline, as well as attending an eight-hour counseling class. The city is using federal dollars it received from the Neighborhood Stabilization Program. The program has income restrictions.

“There are properties available in Wilmington and there are individuals and families that would very much like to establish a home,” said Mayor James Baker. “Sometimes, in this current economic climate, it just takes a little bit of assistance for a potential homebuyer and a mortgage lender to come together and strike a deal.”

The money would initially be a loan, but would be converted to a grant after the homebuyer lives in the home for five years. To apply, call 576-3000, visit the city’s Department of Real Estate and Housing on the 7th floor of the Redding City/County Building, 800 N. French St., or visit www.wilmingtonde.gov.

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