Downpayment Assistance Program | NJ Housing and Mortgage Finance Agency (HMFA)
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.
Categories
Physical Address
637 South Clinton Ave, Trenton, NJ 08650
Application process
Visit the website to be paired with an NJHMFA lender partner.
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
Agency info
NJ Housing and Mortgage Finance Agency (HMFA)
Provides funding for affordable home ownership and housing opportunities for NJ residents; implements programs to fund affordable home mortgages for first-time home buyers; promotes construction and rehabilitation of rental housing; contributes to the quality of life of older adults, the disabled and those with special housing needs; utilizes federal and state funds for housing counseling services.