Finance
What is 'Delaware State Housing Authority' (DSHA) and how does it help homebuyers?
AA regulatory body overseeing housing code enforcement
BDelaware's state housing finance agency that offers affordable mortgage programs, down payment assistance, and homebuyer education✓ Correct
CAn agency managing Delaware's public housing developments
DA commission setting maximum rent levels in Delaware
Explanation
The Delaware State Housing Authority (DSHA) is the state housing finance agency that offers below-market mortgage rates, down payment assistance (DSHA Down Payment and Closing Cost Assistance), and homebuyer counseling to eligible first-time and qualified buyers.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Discount PointsPrepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Math Concepts
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