What is 'Delaware State Housing Authority' (DSHA) and how does it help homebuyers?
Why Delaware's state housing finance agency that offers affordable mortgage programs, down payment assistance, and homebuyer education Is Correct
Answer B: Delaware's state housing finance agency that offers affordable mortgage programs, down payment assistance, and homebuyer education
Exam Tip: Finance
Finance questions often involve calculations. Master the T-bar method, understand the difference between conventional and government-backed loans, and know key ratios like LTV and DTI.
Key Finance Terms in This Question
People Also Study
Related Delaware Questions
- A Delaware first-time homebuyer receives a $15,000 down payment assistance grant from a state program. How does this affect their LTV ratio on a $200,000 home if they put the full $15,000 down?Finance
- An investor purchases a Delaware property for $500,000 with a 25% down payment and obtains a mortgage for the balance. Closing costs are $8,000 (paid in cash). What is the investor's total cash investment at closing?Real Estate Math
- What is Delaware's 'State Housing Authority' (DSHA) and what programs does it offer?Finance
- Which type of mortgage loan is insured by the Federal Housing Administration?Finance
- If a buyer's agent learns that the seller is under financial distress, the agent's obligation is to:Agency
- A Delaware investor buys a rental property for $350,000 and puts 25% down. The monthly mortgage payment (P&I) is $1,495. The property generates $2,200/month rent. Monthly operating expenses are $600. What is the monthly cash flow after mortgage?Real Estate Math
- Which of the following is a protected class under BOTH the federal Fair Housing Act and Delaware state fair housing law?Fair Housing
- Private mortgage insurance (PMI) is typically required when a conventional loan has a down payment of less than:Finance
Key Terms to Know
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
Study This Topic
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →