FHA Loan Delaware County PA — 3.5% Down for First-Time Buyers

Dynamic Funding Solutions helps Delaware County first-time homebuyers access FHA loans with just 3.5% down. Lena Polnet — NMLS #17225, 28+ years in mortgage lending — serves buyers across Media, Upper Darby, Chester, Haverford, and all of Delco. Call (215) 364-7171.

FHA Loan Requirements in Delaware County

FHA loans in Delaware County require a minimum 3.5% down payment with a credit score of 580 or higher, or 10% down for scores between 500–579. Debt-to-income ratios up to 57% are allowed with compensating factors. FHA loan limits in Delaware County, PA match HUD’s standard high-cost area thresholds — currently supporting the affordable rowhouse and twin market throughout Upper Darby, Yeadon, Chester, and Lansdowne. Borrowers must occupy the property as their primary residence. FHA mortgage insurance includes an upfront premium (UFMIP) of 1.75% and an annual MIP based on term and loan-to-value. PHFA K-FIT down payment assistance can be layered on top of an FHA first mortgage to reduce out-of-pocket costs further.

Why Delaware County Buyers Choose FHA Loans

Delaware County — Delco — offers some of the most affordable entry-level housing in the Philadelphia metro. Upper Darby, Yeadon, Colwyn, Chester City, and Lansdowne have dense rowhouse and twin inventory under $250,000 — ideal for FHA financing with minimal down payment. The county’s diverse buyer population includes many first-generation homeowners who carry strong employment histories but limited savings and slightly below-prime credit, exactly the borrower FHA was designed for. Haverford Township and Media Borough attract move-up buyers who can layer PHFA K-FIT assistance on a 580+ credit FHA loan and close with very little cash out of pocket. Dynamic Funding Solutions has deep experience navigating Delco’s mixed-condition housing stock through FHA appraisal requirements.

The Pre-Approval Process

FHA pre-approval at Dynamic Funding Solutions requires: two years of W-2s and tax returns (or 1099s for self-employed), one month of pay stubs, two months of bank statements, and photo ID. PHFA K-FIT applicants need to complete a HUD-approved homebuyer education course. Pre-approval letters are typically issued same day for clean files. Call Lena Polnet at (215) 364-7171. Licensed in Pennsylvania and Florida.

FAQ — FHA Loan Delaware County PA

Can I layer PHFA K-FIT assistance on an FHA loan in Delaware County?

Yes. PHFA’s K-FIT program provides a forgivable second mortgage of up to 5% of the purchase price (capped at $15,000) that can be layered on top of a PHFA-eligible FHA first mortgage. The second mortgage is forgiven 20% per year over five years if you remain in the home. Delaware County properties commonly qualify. Dynamic Funding Solutions is familiar with PHFA submission requirements and coordinates both loans simultaneously.

What’s the FHA loan limit for Delaware County PA?

FHA loan limits are set annually by HUD based on area median home prices. Delaware County falls within the Philadelphia Metropolitan Statistical Area and typically receives the high-cost area limit adjustment. For the current year’s exact limit, call Dynamic Funding Solutions at (215) 364-7171 — limits change each January. Most Delco rowhouses and twins fall well within the ceiling, making FHA widely applicable throughout the county.

Will FHA work for a Chester or Upper Darby rowhouse in mixed condition?

FHA does require the property to meet HUD Minimum Property Standards — the home must be safe, sound, and sanitary. Issues like peeling paint, roof age, and active water intrusion can trigger repair conditions. Dynamic Funding Solutions helps buyers in Chester, Upper Darby, and Lansdowne understand appraisal expectations before making offers, and can sometimes structure seller-paid repair escrows or 203(k) renovation loans when a standard FHA appraisal would fail.

Dynamic Funding Solutions, Inc. — NMLS #17144 | Lena Polnet — NMLS #17225 | Licensed in Pennsylvania and Florida | (215) 364-7171 | This is not a commitment to lend. All loan programs subject to credit approval, property appraisal, and lender underwriting guidelines. FHA loans are subject to HUD guidelines and borrower eligibility.