Low-Interest Rate Mortgages and Thousands in Financial Assistance Available

Dover, Del. April 25, 2024 – The Delaware State Housing Authority (DSHA) is proud to announce $125 million in new mortgage funding availability, which will provide 30-year fixed-rate mortgages with competitive interest rates to Delaware homebuyers. To view the agency’s current interest rates, please visit: https://kissyourlandlordgoodbye.com/loan-products/.

Approximately $125 million in funding is being made available through the agency’s special authority to issue tax-exempt mortgage revenue bonds. The funding is projected to assist 480 Delawareans on their journey to homeownership.

In addition, families can take advantage of DSHA’s downpayment and closing assistance programs, such as Delaware Diamonds and First State Home Loan programs.  

• Delaware Diamonds is a zero-interest forgivable second loan of $10,000 provided to applicants employed in eligible occupations. The loan amount is forgiven after ten years with verification that the homeowner(s) has resided in the subject property as their primary residence. To view the eligible occupation list, please visit: https://kissyourlandlordgoodbye.com/help-for-homebuyers/.
• The First State Home Loan program is a zero-interest second loan, providing 3% of the first mortgage’s final loan amount. The principal will be deferred until the following events occur: refinance, sales, transfer of title, or the property is no longer the borrower’s primary residence (whichever comes first).

Buyers participating in the programs must meet eligibility requirements for DSHA’s homeownership loan programs, including income limits and credit score (620 minimum). Income limits for these programs can be found on DSHA’s homeownership website: https://kissyourlandlordgoodbye.com/. 

DSHA also offers financial counseling through HUD-approved housing counselors to help potential homebuyers improve their scores and reach homeownership. To find a housing counselor near you, please visit: https://kissyourlandlordgoodbye.com/housing-counselors/. 

The programs are available statewide, and DSHA will be working with its participating lenders to serve homeowners. See the complete lender list here: https://kissyourlandlordgoodbye.com/lenders/.

“People tend to think that DSHA programs are only for those who need down payment assistance, but DSHA can benefit homebuyers in many ways,” said Nicholas DiEmidio, Mortgage Consultant at Pike Creek Mortgage Services, Inc.

“What we love about the programs is that the interest rates can be about 1.25% less than the market interest rates, assuming applicants meet the guidelines. This could give someone who would only be approved to 250,000 an approval up to 285,000. With inflation where it is and the cost of living up, this extra buying power can go a long way for our homebuyers.” 

DSHA’s 2023 Housing Needs Assessment found that government-backed mortgages are important for many non-White households to attain homeownership: 58% of Black households and 41% of Hispanic households utilized government-backed mortgages.

“These low-interest rate mortgages, combined with DSHA’s down payment and closing cost assistance programs, are an essential tool for Delawareans to reach their homeownership goals,” said Cynthia Karnai, Director of DSHA. “We’re proud that many Delaware families have benefited from these programs and look forward to working with many more.” 

As the state’s housing finance agency, DSHA can issue bonds and notes. The last bond deal was launched in January 2024 and assisted 290 families in 7 weeks. DSHA plans to launch at least two more deals before the end of 2024.

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About Delaware State Housing Authority 

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low-and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.

Dover, Del. April 22, 2024 – Today, the Delaware State Housing Authority (DSHA) announced that Emily Cunningham will serve as the agency’s Chief of Staff. 

Cunningham brings a wealth of diverse experience to her new role. She recently served as the Vice President of the Blood Bank of Delmarva. Prior to this role, she was Chief of Staff and Policy Analyst for Delaware’s Department of Education, executing the priorities of the Governor and the Secretary of Education as the department’s legislative liaison and overseeing education policy, legislation, and regulation work as well as communications and human resources.

“Emily possesses decades of policy, communication, and management experience, which will be critical in advancing the agency’s mission and impact on Delawareans,” said Cynthia Karnai, Director of DSHA. “I’m confident in the leadership and fresh perspective she will bring to this position.” 

Cunningham helped manage the 500-member staff of Delaware’s Department of Justice as Deputy Chief of Staff for Attorney General Matt Denn and, prior, served as Chief of Staff for Lieutenant Governor Denn. She was also the press secretary for U.S. Senator Tom Carper.

“I am thrilled to be back with the State of Delaware and look forward to working with the talented team at DSHA to address housing in our state,” said Emily Cunningham, Chief of Staff at DSHA. 

She has been a dedicated member of the Ronald McDonald House Advisory Board since 2011 and a member of the Brandywine Valley SPCA Executive Board of Directors since 2019. She has mentored students in Capital and Cape Henlopen School Districts since 2010. Emily earned a Bachelor of Arts in English Literature from Gettysburg College in Gettysburg, Pennsylvania. She lives with her daughters in Rehoboth Beach. 

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About Delaware State Housing Authority 
The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low-and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.

The Delaware State Housing Authority (DSHA) announced today the launch of its new and improved user-friendly website: https://www.destatehousing.com/. The new website was designed with the public and partners in mind, providing them easy access to services, resources, and information.

The new website offers a fresh look and enhanced features like site translation services, improved search functionality, and quality content ranging from affordable housing opportunities to development financing programs.

“Our new website demonstrates DSHA’s commitment to serving the residents of Delaware by enhancing the online experience,” said Cynthia Karnai, DSHA Director. “We believe this new website will not only make information more accessible but will provide a more user-friendly experience for all our visitors.”

Visit the DSHA website today at https://www.destatehousing.com/.

About Delaware State Housing Authority 

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low-and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.

Dover, Del. Tuesday, April 9,  2024 – Today, the Delaware State Housing Authority (DSHA) announced an additional $100,000 in funding awarded to the Eviction Defense Project (EDP). The funding will continue supporting housing stability for low-income, at-risk renters. 

The EDP is a partnership between Delaware’s nonprofit civil legal services providers and other justice community partners to provide free legal assistance and representation for Delaware tenants in eviction and loss of public housing/housing voucher cases. Members of EDP include: 

• Legal Services Corporation of Delaware, Inc.
• Community Legal Aid Society, Inc. (CLASI)
• Delaware Volunteer Legal Services, Inc. 
• The Delaware Bar Foundation
• The Delaware State Bar Association
• The Delaware Combined Campaign for Justice

Since 2021, DSHA awarded EDP over $200,000. With these funds, over 150 households have been assisted in remaining stable, avoiding legal judgment and/or eviction, and keeping their housing subsidy. 

“CLASI fights daily to keep low-income, at-risk tenants in their homes because we know that housing is a foundational building block in a person’s journey,” said Sarah Rhine, Managing Attorney at CLASI. “With this additional funding, our team will be able to build capacity and continue helping Delawareans statewide.”

The award is funded by the Emergency Rental Assistance Program, which U.S. Treasury allocated to the state of Delaware in January and May of 2021.

“We’re proud of the difference the Eviction Defense Project has made with this funding to date,” said Cynthia Karnai, Director of DSHA. “Their programs are not only community-minded but also efficient and intentional. We look forward to seeing how this additional award builds on their success.”

For more information on the Eviction Defense Project, please visit delegalhelplink.org or call (302) 478-8850.

SUCCESS STORY

Mr. G is an individual with disabilities who holds a housing voucher through the New Castle County Housing Authority (NCCHA). He and his mother were on the voucher together and lived in the rental with no issues for many years.

In 2023, Mr. G’s mother, his primary support person, passed away, causing him to fall behind on his rent and lose communication with NCCHA.

He started the healing process recently and contacted CLASI for help with his nonpayment eviction case. His landlord was willing to enter a 6-month repayment plan to settle the pending eviction case; however, Mr. G’s only source of income is Social Security Disability Income. As a result, he would have had to pay over 50% of his income towards housing.

By working with CLASI and the Eviction Defense Project, Mr. G used settlement assistance funds to make the repayment plan viable. The funding provided allowed Mr. G to:

1. Preserve his voucher.
2. Avoid eviction.
3. Retain stable and safe housing.
4. Maintain his mental health.

About Delaware State Housing Authority 

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low-and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development and Planning Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.

On Wednesday, March 13, 2024, the Delaware Senate confirmed Cynthia Karnai as Delaware’s Housing Cabinet Secretary and the Director of Delaware State Housing Authority (DSHA). 

Governor Carney nominated Karnai in February after former director Eugene Young, Jr. announced his resignation at the agency’s Joint Finance Committee Budget hearing. 

Prior to being named Deputy Director in 2022, Karnai served 16-plus years as the agency’s Chief Operating Officer, overseeing its operations, and Director of Housing Finance, guiding homeownership and foreclosure prevention.

Since joining DSHA in 2005, her work has focused on promoting homeownership, from managing programs during the height of the housing boom with annual funding of over $420 million to challenging economic times. She launched innovative resources to revitalize Delaware’s housing market, including emergency foreclosure assistance for senior citizens and low-rate mortgage rates for new construction and veterans. She launched the first-time homebuyer federal tax credit in Delaware. As a unique initiative for the agency, Cynthia developed and launched, in 90 days, the Delaware Mortgage Relief Program, the State’s mortgage assistance program for those impacted by COVID-19.

Under Karnai’s leadership, DSHA has been awarded the Government Finance Officers Association National Accounting and Financial Reporting Award, received national recognition by the National Council of State Housing Agencies, and received the National Award of Merit from the National Association of Housing and Redevelopment Officials.

“Thank you to the members of the Delaware Senate for their votes confirming Cynthia Karnai as Director of the Delaware State Housing Authority,” said Governor Carney. “With her tenure and expertise with the Housing Authority, Cynthia is well positioned to lead the difficult but rewarding work of helping Delawareans obtain safe and stable housing, creating affordable housing options, and strengthening neighborhoods. I appreciate her willingness to continue to serve the First State.”

“I am honored and humbled to serve as the new Director of Delaware State Housing Authority,” said Cynthia Karnai, Director of DSHA. “I’m proud to work with a diverse group of housing experts and look forward to advancing DSHA’s mission.” 

About Delaware State Housing Authority 

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low-and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development and Planning Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties.