Are you a first-time homebuyer in New Jersey? This comprehensive guide provides valuable resources and assistance programs tailored specifically for residents of the Garden State. Explore specialized programs, including down payment assistance and favorable mortgage options, designed to make homeownership more accessible. Navigate the New Jersey real estate market with confidence and uncover the opportunities that await you in its diverse communities.
State-Wide Programs
Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|
Homebuyer Dream Program (HDP) | Up to $14,500 in down payment and closing cost assistance | First-time homebuyers who are buying homes in New York, New Jersey, Puerto Rico or the U.S. Virgin Islands and that can meet income requirements | Grant |
NJHMFA Down Payment Assistance Program | Up to $10,000 in down payment and closing cost assistance | First time homebuyers who buy a home in New Jersey and can meet income requirements | Forgivable second mortgage with a 0% interest rate |
Regional Programs
County/Region | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Bergen | American Dream Program | Up to $50,000 in down payment assistance | First time homebuyer who meets income requirements and reside or work full time in Bergen County | Deferred second mortgage with a 0% interest rate. Up to $10,000 may be forgiven |
Burlington | Burlington County First Time Home Buyer Program (FTHP) | Up to $9,000 in down payment and closing cost assistance | First time homebuyer who meets income requirements and is buying a home within Burlington County | Deferred loan with up to $4,000 forgiven |
Camden | First Time Homebuyer Program | Up to $14,999 in down payment and closing cost assistance | First time homebuyer who meets income requirements | Deferred loan |
Cumberland | First-Time Homebuyers Down Payment and Closing Cost Assistance Program | Up to $5,000 in down payment and closing cost assistance | First time homebuyer who meets income requirements and purchases a home in Cumberland County | Forgivable loan with a 0% interest rate |
Essex | HOMEbuyer Assistance Program | Up to $50,000 in down payment and closing cost assistance | First time homebuyer purchasing a home in Essex County | Deferred loan |
Gloucester | Homebuyer Down Payment Assistance Program | Up to $10,000 in down payment and closing cost assistance | First time homebuyers buying a home in Gloucester County and can meet income requirements | Deferred loan with a 0% interest rate |
Hudson | Address Yourself | Up to $15,000 in down payment and closing cost assistance | Veterans and and any Hudson County resident homebuyers that can meet income requirements | Grant |
Mercer | First Time Homebuyer Program | Up to $7,000 in down payment and closing cost assistance | First time homebuyer who meets income requirements and purchases a home in Mercer County (excluding Trenton) | Deferred loan with a 0% interest rate |
Middlesex | Middlesex County American Dream Down Payment Program | Up to $5,000 in down payment and closing cost assistance | First time homebuyer who has resided in Middlesex County for at least 1 year, meets income requirements and buys a home in Middlesex County (excluding New Brunswick and Perth Amboy) | Forgiveable, deferred loan |
Monmouth | First Time Homebuyer Program | Up to $10,000 in down payment and closing cost assistance | First time homebuyer whose income meets requirements and has been a resident of Monmouth County for at least 1 year | Deferred second mortgage |
Morris | Housing Partnership's Down Payment Assistance | Up to $5,000 in down payment assistance | First time homebuyer who meets income requirements and purchases a home in Morris county | Deferred loan with a 0% interest rate |
Ocean | First-Time Homebuyer Program | Up to $10,000 in down payment assistance | First time homebuyer who meets income requirements and is a resident of Ocean County | Forgiveable, deferred loan |
Somerset | American Dream Down Payment Initiative (ADDI) | Up to $10,000 in down payment assistance | First time homebuyer who meets income limits and purchases a home in Somerset County | Loan with a 0% interest rate |
Sussex | Housing Partnership's Down Payment Assistance | Up to $5,000 in down payment assistance | First time homebuyer who meets income requirements and purchases a home in Sussex county | Deferred loan with a 0% interest rate |
Warren | Housing Partnership's Down Payment Assistance | Up to $5,000 in down payment assistance | First time homebuyer who meets income requirements and purchases a home in Warren county | Deferred loan with a 0% interest rate |
City Programs
City | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Atlantic | Atlantic City Down Payment Assistance Program | Up to $30,000 in down payment and closing costs assistance | First time homebuyers whose income meets requirements, has lived in Atlantic County for 1 year and is buying a home within the city limits of Atlantic City | Deferred second mortgage with a 0% interest rate |
Asbury Park | First Time Home Buyers Assistance Program | Up to $5,000 in down payment and closing cost assistance | Homebuyers who meet income requirements and purchase a home within the city limits of Asbury Park | Second mortgage |
East Orange | Hudson County First Time Home Buyers Program (FTHP) | Up to $25,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Deferred loan with a 0% interest rate |
Jersey City | Golden Neighborhoods Homeownership Program | Up to $40,000 in down payment and closing cost assistance | First time homebuyers buying a home within the city limits of Jersey City | Not specified |
Newark | Live Newark Home Closing Cost and Down Payment Program | Up to $5,000 in down payment and closing cost assistance | Any homebuyer purchasing a home within the city limits of Newark | Forgivable loan |
Newark | Municipal Employee Housing Assistance Program | Up to $5,000 in down payment and closing cost assistance | Any homebuyer purchasing a home within the city limits of Newark | Forgivable loan |
Paterson | First Time Homeownership Program (FTHBP) | Up to $14,500 in down payment assistance | First time homebuyers that can meet income requirements and are buying a home within the city limits of Paterson | Second mortgage |
Perth Amboy | First Time Homebuyers Down Payment Assistance Program | Up to $8,000 in down payment assistance grant | First time homebuyers that can meet income requirements and are buying a home within the city limits of Perth Amboy | Grant |
Trenton | First-Time Homebuyer Program | Up to $15,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements and are buying a home within the city limits of Trenton | Forgivable loan with a 0% interest rate |
Vineland | Home Ownership Assistance Program (HOAP) | Up to $5,000 in down payment and closing cost assistance | Any homebuyers purchasing a home within center city Vineland | Deferred second mortgage with a 0% interest rate |
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