Delaware Mortgage Calculator

Calculate your monthly mortgage payment in Delaware. Pre-filled with Delaware's average property tax rate of 0.56%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$163
Homeowner's Insurance
$100
Total Monthly Payment
$2,033

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,033/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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Delaware Housing Overview

Delaware has an average property tax rate of 0.56%. Delaware's cost of living is about 2% above the national average, making it affordable for the northeast corridor.

Property Tax: 0.56%No state sales taxProgressive rates up to 6.6%Low property taxes for the northeast

Buying a Home in Delaware

If you're considering buying a home in Delaware, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills Delaware's average property tax rate of 0.56% to give you a more accurate estimate.

Delaware Property Taxes

Delaware has an average effective property tax rate of 0.56%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.56% rate means approximately $1960 per year, or $163 per month in property taxes alone.

Cost of Living in Delaware

Delaware's cost of living is about 2% above the national average, making it affordable for the northeast corridor. When evaluating whether to buy a home in Delaware, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for Delaware Homebuyers

  • Delaware has no sales tax — every purchase saves you money compared to most states
  • Delaware's relatively moderate income tax combined with no sales tax makes it competitive
  • Delaware's proximity to major metros (Philadelphia, DC) allows higher-paying jobs with lower cost of living
  • Property taxes in Delaware are among the lowest in the northeast

Key Delaware Features

  • No state sales tax
  • Progressive rates up to 6.6%
  • Low property taxes for the northeast

See How Your Delaware Mortgage Fits Your Financial Plan

This calculator shows your Delaware mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare Delaware Mortgage Costs with Other States

Maryland1.07% property taxPennsylvania1.53% property taxNew Jersey2.23% property taxCalifornia0.71% property taxTexas1.80% property taxFlorida0.89% property tax

Frequently Asked Questions

What is the average property tax rate in Delaware?
The average effective property tax rate in Delaware is approximately 0.56%. This rate is applied to the assessed value of your property, which may differ from the market value depending on Delaware's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in Delaware?
Your mortgage payment in Delaware depends on the home price, your down payment, interest rate, and loan term. With Delaware's average property tax rate of 0.56%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is Delaware an affordable state to buy a home?
Delaware's cost of living is about 2% above the national average, making it affordable for the northeast corridor. When evaluating affordability in Delaware, consider not just the home price but also property taxes (0.56% average), homeowner's insurance costs, and any HOA fees common in your area.
How do Delaware property taxes compare to other states?
Delaware's average property tax rate of 0.56% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in Delaware?
Most states, including Delaware, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with Delaware's housing authority and the FHA, VA, and USDA loan programs for additional options.

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