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New Jersey: NJHMFA DPA

You can get up to $15,000 for your down payment!

Ask Doc About This Program

NJHMFA's Down Payment Assistance Program provides qualified homebuyers with up to $15,000 toward down payment and/or closing costs based upon the county of the property being purchased. The DPA is a forgivable loan with no interest and no monthly payments, forgiven if the borrower continuously resides in the premises as their principal residence for five years from the loan closing date and does not refinance or otherwise convey the first mortgage.

Program Details

Must be a first-time homebuyer
Up to $15,000 based on the county
Ask about forgivable DPA
Funds can be used toward down payment and closing costs
Single family & multi-family residences

Assistance by County

$15,000: Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union
$10,000: Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Salem, Sussex, Warren

Eligible Property Types

Single-family home
Condominium
Townhome
Manufactured or mobile home
2-4 family

FAQs

Who qualifies as a first-time homebuyer?+

A borrower who has not had an ownership interest in their primary residence during the past three years. Borrowers must meet credit score and debt-to-income requirements.

01 Checkup A 15-minute conversation
02 Diagnosis Programs matched to you
03 Prescription We handle the paperwork
04 Closing Keys or savings, delivered

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