NJ First-Time Buyer Programs
NJ First-Time Buyer Programs
State-specific programs from NJHMFA with down payment assistance for New Jersey buyers.
What It Is
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) offers several programs specifically for first-time homebuyers in New Jersey, including the First-Time Homebuyer Mortgage Program and the Down Payment Assistance Program (DPA). These programs provide below-market rates and up to $15,000 in down payment assistance.
Who Qualifies
New Jersey residents who have not owned a primary residence in the past 3 years. Income and purchase price limits apply by county. The home must be a primary residence in New Jersey.
Basic Requirements
—No primary residence ownership in past 3 years
—NJ county-specific income limits apply
—Purchase price limits by county
—Homebuyer education course required
—Primary residence in New Jersey only
—Minimum credit score per underlying loan type
Key Benefits
Up to $15,000 in down payment assistance (forgivable after 5 years)
Below-market interest rates through NJHMFA
Available with FHA, VA, USDA, and conventional loans
Covers down payment and closing costs
County-specific income and purchase price limits
Homebuyer education required (free online)
Ready to Get Started?
Talk to a loan officer today. We'll review your situation and find the best program for you — no obligation.