The Best Mortgage Lenders in Cheswold, DE
Compare verified mortgage lenders serving Cheswold, Delaware. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Cheswold
Featured Mortgage Lenders
Michael A. Glanden
The Glanden Mortgage Group
The Glanden Mortgage Group is one of Delaware's most highly-rated mortgage lenders with over two decades of serving Kent County and surrounding areas. They maintain exceptional 4.9-star ratings across multiple platforms due to their personalized service, competitive rates, and extensive local market knowledge. As a local Delaware company, they specialize in helping Cheswold residents with various loan programs including first-time homebuyer assistance and veteran loans, with a reputation for smooth closings and excellent communication throughout the mortgage process.
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Customer Service
WSFS Mortgage
WSFS Bank has been serving Delaware communities since 1832, with their mortgage division becoming a trusted regional lender throughout the state. They maintain strong 4.7-star ratings for their competitive rates and local decision-making capabilities. With multiple branches throughout Kent County and dedicated mortgage specialists familiar with Cheswold's housing market, WSFS offers the convenience of a local bank combined with comprehensive mortgage products. Their deep community roots and commitment to Delaware homeowners make them a top choice for personalized mortgage service.
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Mortgage Department
1st Colonial Community Bank
1st Colonial Community Bank has built an outstanding reputation as a local community bank serving Kent County residents, including those in Cheswold. With consistent 4.8-star ratings, they're praised for their responsive service, local underwriting, and competitive mortgage products. As a community-focused institution, they offer personalized attention and understanding of Delaware's unique mortgage landscape. Their mortgage team has extensive experience with local property types and market conditions, providing tailored solutions for home purchases and refinances with the reliability of a established local financial institution.
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Frequently Asked Questions
Common questions about mortgage lending in Cheswold, DE
What are the current average mortgage rates for homebuyers in Cheswold, DE?
Mortgage rates in Cheswold typically align with national averages but can vary based on local lenders and market conditions. As of recent data, 30-year fixed rates in Delaware hover around 6.5-7%, while 15-year fixed rates are approximately 5.75-6.25%. It's best to compare rates from local Delaware lenders like WSFS Bank or Artisans' Bank, as they may offer competitive terms specific to Kent County.
Are there any first-time homebuyer programs specifically available in Cheswold?
Yes, Cheswold homebuyers can access the Delaware State Housing Authority's (DSHA) First-Time Homebuyer Program, which offers competitive interest rates, down payment assistance, and closing cost help. Additionally, Kent County offers the HOME Downpayment and Closing Cost Assistance Program, providing up to $10,000 in assistance for eligible buyers purchasing within the county, including Cheswold.
How does Cheswold's location in a flood zone affect mortgage requirements?
Given Cheswold's proximity to the St. Jones River and low-lying areas, many properties require flood insurance, which lenders will mandate for mortgage approval. Your lender will order a flood zone determination during processing, and if your property is in a Special Flood Hazard Area, you'll need to purchase flood insurance through the NFIP, typically adding $500-$1,500 annually to your housing costs.
What types of properties are most common in Cheswold's mortgage market?
Cheswold's mortgage market primarily consists of single-family homes, many of which are older properties built before 1980, along with some newer developments and manufactured homes. Lenders may have specific requirements for older homes, including thorough home inspections and potentially higher repair escrows. Manufactured homes typically require permanent foundations and meet HUD standards for conventional financing.
Are there any local property tax considerations that affect mortgages in Cheswold?
Cheswold homeowners benefit from Delaware's relatively low property taxes, with Kent County rates around 0.55% of assessed value. However, your mortgage lender will still require an escrow account for property taxes, which are typically paid to Kent County. First-time buyers should note that property tax assessments may increase after purchase due to Delaware's reassessment upon transfer policy.
Why Choose a Mortgage Lender in Cheswold?
Local Market Knowledge
Lenders who understand Cheswold's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Delaware.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Cheswold and get competitive rates on your home loan.