American Dream Downpayment Program | Middlesex County Division of Housing, Community Development, and Social Services
Awards $5,000 in assistance towards down payments and closing costs to eligible first-time homebuyers in Middlesex County. Interested applicants must attend a homebuyer class and undergo an individualized budget review/counseling process prior to closing on the house. The assistance will be in the form of a deferred repayment mortgage, which doesn't require payment of principal or interest by the homebuyers provided they own and live in the property for five years.
Physical Address
75 Bayard St, New Brunswick, NJ 08901
Application process
Visit the website for information.
Eligibility
Applicants must meet all of the following: - First-time homebuyers - Existing residents of Middlesex County for at least one year - Must have mortgage pre-approval issued within the last 2 months - Must meet household income eligibility limits - Able to put down at least 1% of purchase price from own funds - Any co-signers must be planning to reside in the homeIn addition, the house that applicants wish to purchase must meet all of the following: - Single-family property (including detached home, townhome, condo, and co-op) - Purchase price cannot exceed 4 times the household income, up to a maximum of $299,000 - Can be in any Middlesex County municipality EXCEPT Perth Amboy or New Brunswick - Must be certified free of lead based paint hazards if built before 1978
Languages
Spanish
Agency info
Middlesex County Division of Housing, Community Development, and Social Services
Administers three housing programs funded by the U.S. Department of Housing and Urban Development (HUD): Section 8 Rental Assistance; Community Development Block Grant (CDBG); and HOME Investment Partnerships.