Homebuyer Programs in Lakewood, NJ (2026)
Lakewood is one of New Jersey's fastest-growing communities, located in Ocean County in the central part of the state, with a median home price around $400,000. Homebuyers here benefit from the Ocean County First-Time Homebuyer Program, which provides $15,000 as a forgivable loan through HUD HOME funds — forgiven after just 6 years of owner-occupancy. At the state level, the NJHMFA Down Payment Assistance Program adds up to $15,000 as a forgivable loan, and first-generation buyers can receive an additional $7,000 through the NJHMFA First Generation Down Payment Assistance. The NJCC Statewide DPA offers up to $30,000 in grant funding, and NACA provides mortgages with no down payment, no closing costs, and no PMI. Northern Ocean Habitat for Humanity also serves the area with 0% interest mortgages for qualifying families. By stacking county, state, and nonprofit programs, Lakewood buyers could access over $60,000 in combined assistance.
Top Homebuyer Programs in Lakewood
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Lakewood Housing Authority HCV Homeownership Program | Grant | Housing Choice Voucher subsidy applied toward monthly mortgage payment instead of rent | Yes | View → |
| Ocean County First-Time Homebuyer Program | Forgivable Loan | $15,000 | Yes | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| NACA Best in America Mortgage Program | Zero-Interest Loan | No down payment, no closing costs, no fees, no mortgage insurance, below-market interest rate | No | View → |
| Northern Ocean Habitat for Humanity Homeownership Program | Zero-Interest Loan | Below-market-price home purchase with 0% interest mortgage | Yes | View → |
| NJCC Statewide Down Payment Assistance Program | Grant | Up to $30,000 | Yes | View → |
| NJHMFA Down Payment Assistance Program | Forgivable Loan | Up to $15,000 | Yes | View → |
| NJHMFA First Generation Down Payment Assistance | Forgivable Loan | $7,000 | Yes | View → |
| NJHMFA First-Time Homebuyer Mortgage Program | Government-Insured Mortgage | Competitive 30-year fixed-rate mortgage | Yes | View → |
| NJHMFA HFA Advantage Mortgage Program | Government-Insured Mortgage | Competitive 30-year fixed-rate conventional mortgage | No | View → |
- Type:
- Grant
- Amount:
- Housing Choice Voucher subsidy applied toward monthly mortgage payment instead of rent
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- $15,000
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- No down payment, no closing costs, no fees, no mortgage insurance, below-market interest rate
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Below-market-price home purchase with 0% interest mortgage
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to $30,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- $7,000
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Competitive 30-year fixed-rate mortgage
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- Competitive 30-year fixed-rate conventional mortgage
- First-time only:
- No
How to Apply
- Step 1:
Check your eligibility. The Ocean County program requires low to moderate income per HUD guidelines and a maximum purchase price of $475,000. NJHMFA programs require income at or below 115% to 140% AMI and a minimum credit score of 620.
- Step 2:
Complete homebuyer education. Both the Ocean County program and NJHMFA require HUD-approved homebuyer education. Contact O.C.E.A.N. Inc. Housing Counseling Department at (732) 244-5333 or the Lakewood Resource and Referral Center at (732) 942-9292 for local counseling options.
- Step 3:
Contact O.C.E.A.N. Inc. for the county program. Call (732) 244-5333 to learn about current funding availability for the Ocean County First-Time Homebuyer Program. You will need a down payment of at least 3% of the purchase price with at least 1% from your own funds.
- Step 4:
Get pre-approved for a mortgage. Contact an NJHMFA participating lender through theroadhomenj.com for state DPA programs, or begin the NACA qualification process for their no-down-payment mortgage.
- Step 5:
Find a home within program limits. The Ocean County program caps the purchase price at $475,000. The home must be within Ocean County. NJHMFA programs apply statewide.
- Step 6:
Submit your applications and close. Ocean County HOME funds are distributed on a first-come, first-served basis. NJHMFA DPA and First Generation assistance are applied at closing through your participating lender. Plan for a closing timeline of 45 to 60 days.