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Downpayment Assistance Program | NJ Housing and Mortgage Finance Agency (HMFA)

637 S Clinton Ave, Trenton, NJ 08650

Eligibility

Individuals who:- Are a first-time homebuyer with a credit score of 620 or greater. Individuals are considered a first-time homebuyer if they have not owned a home within the previous three years.- Are planning to purchase a home in New Jersey- Have a primary residence in New Jersey

Required documents

Call for information

Hours

Mon - Fri 8:30 am - 4:00 pm
https://www.nj.gov/dca/hmfa/consumers/homebuyers/index.shtml

Interpretation services

English

Application process

Visit the website to be paired with an NJHMFA lender partner.

Fees

Call for information

Service area

NJ

Description

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.

Providing organization

NJ Housing and Mortgage Finance Agency (HMFA)

Funds affordable home ownership and housing opportunities for New Jersey residents, including programs for first-time home buyers. It promotes the construction and rehabilitation of rental housing and enhances the quality of life for older adults, the disabled, and those with special housing needs. Additionally, it utilizes federal and state funds to provide housing counseling services.