First Time Home Buyers Programs

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The government will help you to become a home owner!

Your Local City or County

Many cities have a "First Time Home Buyers Program". Such as Trenton, New Jersey this is to encourage development and occupacy within the city. The following is from their page.

"Program Summary The First-Time Homebuyer (FTHB) Program promotes home ownership for low and moderate income homebuyers. Financial assistance is provided in the form of closing cost assistance and a matching down payment to qualified first time homebuyers as defined by the U.S. Department of Housing and Urban Development (HUD). Financial assistance is based on the buyer’s household income, assets and homeowner history, an approved first mortgage loan terms and interest rate, meeting all FTHB program criteria, and the purchase of an eligible property in the City of Trenton."

This page is aimed toward helping those that wish to purchase in New Jersey. See our 50 states page for other states of the United State of America

Counties, See chart at bottom of page for links to New Jersey Countues' Websites

State of New Jersey (if you are viewing this in a another state check your state government website )

Programs change year to year, check with your loan person

HFA Advantage Mortgage Program

The New Jersey Housing and Mortgage Finance Agency's (NJHMFA) HFA Advantage Mortgage Program provides a 30-year, fixed-rate conventional loan for eligible homebuyers purchasing a home in New Jersey. The HFA Advantage Mortgage Program offers affordable mortgage insurance and low down-payment and can be coupled with the NJHMFA Down Payment Assistance (DPA).

Further details available on the HFA Advantage Consumer Fact Sheet

NJHMFA Down Payment Assistance Program

NJHMFA Down Payment Assistance Program

The NJHMFA state-wide Down Payment Assistance Program (DPA) provides $10,000 for qualified first-time homebuyers to use as down payment and closing cost assistance when purchasing a home in New Jersey. The DPA is an interest-free, five-year forgivable second loan with no monthly payment

To participate in this program, the DPA must be paired with an NJHMFA first mortgage loan. The first mortgage loan is a competitive 30-year, fixed-rate government-insured loan (FHA/VA/USDA), originated through an NJHMFA participating lender. Certain restrictions such as maximum household income and purchase price limits apply. For more information, contact an NJHMFA participating lender below.

Do I Qualify for This Program?


Most first time home buyer programs consider you a first time home buyer if you have not owned a home in the last 3 years. Many of the programs on this page applies to purchasing a home only in New Jersey. Consult with a mortgage broker, bank, or savings and loan that works with these programs, not every rtgage lender does. (NJHMFA lender partner!) Different programs have different income requirements.

Income limits are determined by the area of purchase as well as family size, but may not exceed 140% of Area Median Income. Properties located in an Urban Target Area (UTA) are eligible for higher income limits. To determine if your proposed property is within a UTA, visit the Site Evaluator and follow the tutorial instructions, then review the appropriate Purchase Price and Income Limits document, linked below. 

The New Jersey Housing and Mortgage Finance Agency's (NJHMFA) First-Time Homebuyer Mortgage Program provides qualified New Jersey first-time homebuyers with a competitive 30-year, fixed-rate government-insured loan (FHA/VA/USDA) originated through an NJHMFA participating lender.

Do You Need Down Payment and Closing Cost Assistance? The First-Time Homebuyer Mortgage Program is the foundational mortgage program that can be combined with the NJHMFA Down Payment Assistance Program, which provides qualified buyers with $10,000 as an interest-free, five-year forgivable second loan with no monthly payment that can be used to cover down payment and closing costs. [

Homeward Bound Program

New Jersey Housing and Mortgage Finance Agency's (NJHMFA) Homeward Bound Mortgage Program provides a competitive 30-year fixed-rate government insured loan for eligible homebuyers purchasing a home in New Jersey. The Homeward Bound Mortgage Program can be coupled with the NJHMFA Down Payment Assistance Program (DPA).

Does your income and the home's purchase price fall within the required income and purchase price limits?

Purchase Price and Income Limits Statewide Area  Purchase Price and Income Limits Urban Target Area 

Ready to Get Started?

Fill out our Participating Lenders form to be paired with an NJHMFA lender partner!
Further details available on the Homeward Bound Fact Sheet Ready to Get Started? Fill out our Participating Lenders form to be paired with an NJHMFA lender partner!

Police and Firemen's Retirement System Mortgage Program

Active members of the New Jersey Police and Firefighter Retirement System (PFRS) with one year of creditable service are eligible for this program. Maximum mortgage amount is $647,200. Interest rate is 30-year fixed. Program rates are set semi-annually in February and August. Further detail is available on our Police and Firemen's Retirement System Mortgage Program Fact Sheet. Ready to Get Started? Fill out our Participating Lenders form to be paired with an NJHMFA lender partner!

Federal Government

HUD
New Jersey The Department of Housing and Urban Development (HUD)

This page speciality is New Jersey See our 50 States Page for Other States

Finding Your Castle Global

My Direct Line ...Phone: 856. 974.1981

David Cohen
Sales associate with
Century 21 Reilly Realtors,
39 North Route 73,
Berlin, New Jersey 08009
United States of America

Office 856.767.1776

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