Delaware Mortgage Calculator
Estimate your monthly mortgage payment in Delaware with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Delaware is $375,000 with an effective property tax rate of 0.57%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
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| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $22,754.40 | $3,353.12 | $19,401.28 | $296,646.88 |
| 1 | $1,896.20 | $271.20 | $1,625.00 | $299,728.80 |
| 2 | $1,896.20 | $272.67 | $1,623.53 | $299,456.13 |
| 3 | $1,896.20 | $274.15 | $1,622.05 | $299,181.98 |
| 4 | $1,896.20 | $275.63 | $1,620.57 | $298,906.35 |
| 5 | $1,896.20 | $277.12 | $1,619.08 | $298,629.23 |
| 6 | $1,896.20 | $278.63 | $1,617.57 | $298,350.60 |
| 7 | $1,896.20 | $280.13 | $1,616.07 | $298,070.47 |
| 8 | $1,896.20 | $281.65 | $1,614.55 | $297,788.82 |
| 9 | $1,896.20 | $283.18 | $1,613.02 | $297,505.64 |
| 10 | $1,896.20 | $284.71 | $1,611.49 | $297,220.93 |
| 11 | $1,896.20 | $286.25 | $1,609.95 | $296,934.68 |
| 12 | $1,896.20 | $287.80 | $1,608.40 | $296,646.88 |
Year 2 | $22,754.40 | $3,577.68 | $19,176.72 | $293,069.20 |
Year 3 | $22,754.40 | $3,817.29 | $18,937.11 | $289,251.91 |
Year 4 | $22,754.40 | $4,072.94 | $18,681.46 | $285,178.97 |
Year 5 | $22,754.40 | $4,345.71 | $18,408.69 | $280,833.26 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Delaware Housing Snapshot
| Median Home Value | $375,000 |
| Effective Property Tax Rate | 0.57% |
| Estimated Annual Property Tax | $2,137 |
| State Income Tax | Up to 6.6% |
| Homestead Exemption | $125,000 in bankruptcy; no general property tax homestead |
| Avg Homeowners Insurance | $920/yr |
| Transfer & Recording Taxes | Real estate transfer tax 4% combined state and county (one of the highest in US) |
What Makes Buying in Delaware Different
Delaware combines one of the lowest effective property tax rates in the US (0.57%) with one of the highest real estate transfer taxes (4% combined state and county). The transfer tax is typically split 50/50 between buyer and seller, but on a median $375,000 home it adds $15,000 in closing costs. Once you own, ongoing property taxes are remarkably low at around $2,140 per year on the median home. State income tax tops out at 6.6%. There is no sales tax, which historically has made Delaware attractive for retirees relocating from higher-tax neighbors. Wilmington serves as the corporate registration capital of the US, with the surrounding Newark and Middletown markets benefiting from the strong professional services job base. The Delaware beach corridor (Rehoboth, Lewes, Bethany) has seen massive price appreciation from second-home buyers, with medians often exceeding $700,000. Homeowners insurance averages a low $920, reflecting limited natural disaster exposure outside of occasional coastal flooding.
Top Cities in Delaware
| City | Median Home Value |
|---|---|
| Wilmington | $245,000 |
| Dover | $295,000 |
| Newark | $345,000 |
| Middletown | $410,000 |
| Rehoboth Beach | $695,000 |
Delaware charges a combined real estate transfer tax of 4% (2.5% state plus 1.5% county in most cases), typically split between buyer and seller in 50/50 share. Some cities including Wilmington add additional municipal transfer tax. On a $375,000 home, the buyer's share is around $7,500, making this one of the most expensive closing-cost states in the US.
No. Delaware is one of five states with no state sales tax (Alaska, Montana, New Hampshire, and Oregon are the others). This has long made Delaware attractive for retirees and shoppers in border states. It does not directly affect mortgage qualification but matters for overall cost of living.
Homeowners aged 65 or older with at least three years of Delaware residency qualify for a credit of up to $500 against school property taxes on their primary residence. Income limits apply. This is one of the most generous senior property tax benefits in the country, reflecting Delaware's appeal as a retirement destination.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.