See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated March 29, 2026

Homebuyer Programs in Toms River, NJ (2026)

Population: 95,000 | Median home price: $475,000 | Est. closing costs: $9,500 - $14,500

Toms River is the county seat of Ocean County and one of the most populated townships on the Jersey Shore, offering a blend of suburban living and beach-town character. With a median home price around $475,000, Toms River presents solid opportunities for buyers who take advantage of available assistance programs. While the township does not offer its own city-funded down payment assistance, the Ocean County First-Time Homebuyer Program provides $15,000 in forgivable assistance administered by O.C.E.A.N., Inc. The NJHMFA Down Payment Assistance Program adds up to $15,000, and first-generation buyers can qualify for an additional $7,000 through the NJHMFA First Generation Program. The NJCC Statewide DPA offers up to $30,000, and the NACA Best in America Mortgage Program eliminates down payment and closing costs entirely. By stacking eligible programs, qualified Toms River buyers could access over $50,000 in combined assistance.

County Programs in Ocean County

Program Name	Type	Amount	First-Time Only	Details
Ocean County First-Time Homebuyer Program	Forgivable Loan	$15,000	Yes	View →

Ocean County First-Time Homebuyer Program

Type:: Forgivable Loan
Amount:: $15,000
First-time only:: Yes

State Programs in New Jersey

Program Name	Type	Amount	First-Time Only	Details
FHLBNY Homebuyer Dream Program	Grant	Up to $30,000	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: $15,000 in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union counties; $10,000 in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Salem, Sussex and Warren counties	Yes	View →
NJHMFA First Generation Down Payment Assistance	Forgivable Loan	$7,000	Yes	View →
NJHMFA First-Time Homebuyer Mortgage Program	Government-Insured Mortgage	30-year fixed-rate FHA, VA or USDA first mortgage through NJHMFA participating lenders (rate quoted by lender); eligible for up to $15,000 NJHMFA down payment assistance	Yes	View →
NJHMFA HFA Advantage Mortgage Program	Government-Insured Mortgage	Competitive 30-year fixed-rate conventional mortgage	No	View →

FHLBNY Homebuyer Dream Program

Type:: Grant
Amount:: Up to $30,000
First-time only:: Yes

NJCC Statewide Down Payment Assistance Program

Type:: Grant
Amount:: Up to $30,000
First-time only:: Yes

NJHMFA Down Payment Assistance Program

Type:: Forgivable Loan
Amount:: Up to $15,000: $15,000 in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union counties; $10,000 in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Salem, Sussex and Warren counties
First-time only:: Yes

NJHMFA First Generation Down Payment Assistance

Type:: Forgivable Loan
Amount:: $7,000
First-time only:: Yes

NJHMFA First-Time Homebuyer Mortgage Program

Type:: Government-Insured Mortgage
Amount:: 30-year fixed-rate FHA, VA or USDA first mortgage through NJHMFA participating lenders (rate quoted by lender); eligible for up to $15,000 NJHMFA down payment assistance
First-time only:: Yes

NJHMFA HFA Advantage Mortgage Program

Type:: Government-Insured Mortgage
Amount:: Competitive 30-year fixed-rate conventional mortgage
First-time only:: No

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
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 →
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 →

FHA Loans

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

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

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

HomeReady Mortgage (Fannie Mae)

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

HUD $100 Down Program

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

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

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

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Housing Partnership of New Jersey CDFI Homebuyer Loan	Zero-Interest Loan	Up to $20,000	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 →

Housing Partnership of New Jersey CDFI Homebuyer Loan

Type:: Zero-Interest Loan
Amount:: Up to $20,000
First-time only:: No

NACA Best in America Mortgage Program

Type:: Zero-Interest Loan
Amount:: No down payment, no closing costs, no fees, no mortgage insurance, below-market interest rate
First-time only:: No

Northern Ocean Habitat for Humanity Homeownership Program

Type:: Zero-Interest Loan
Amount:: Below-market-price home purchase with 0% interest mortgage
First-time only:: Yes

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17 programs available in Toms River. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. Most programs require household income at or below 80% of the Area Median Income for Ocean County. The NJHMFA DPA requires that you have not owned a home in the past three years.

Step 2: Complete homebuyer education. A HUD-approved course is required for the NJHMFA DPA and the Ocean County program. O.C.E.A.N., Inc. in Toms River offers HUD-certified homebuyer counseling at (732) 244-5333 ext. 1110. The Affordable Housing Alliance also provides homebuyer education and can be reached at (732) 389-2958.

Step 3: Apply for the Ocean County program. Contact O.C.E.A.N., Inc. at (732) 244-5333 ext. 1110 to apply for the $15,000 Ocean County First-Time Homebuyer Program. You must have a minimum of 3% of the sales price as down payment, with at least 1% from your own funds.

Step 4: Contact a participating lender. Visit the NJHMFA website to be paired with up to three approved lenders in the Toms River area who can help you apply for the state DPA programs.

Step 5: Explore nonprofit programs. Contact the Housing Partnership of New Jersey for their CDFI Homebuyer Loan of up to $20,000. Attend a NACA homebuyer workshop to start their no-down-payment mortgage process. Northern Ocean Habitat for Humanity in Toms River also builds affordable homes at (732) 228-7962.

Step 6: Get pre-approved for a mortgage. Work with your chosen lender to determine your budget. Ask about combining the NJHMFA DPA with the First Generation bonus if you qualify.

Step 7: Find a home and close. Search for properties in Toms River within any applicable price limits. Your lender will coordinate all DPA paperwork alongside your mortgage. Expect 45 to 60 days from contract to closing.

Frequently Asked Questions

How much down payment assistance can I get in Toms River, NJ?+

Toms River buyers can stack several programs for significant savings. The Ocean County First-Time Homebuyer Program provides $15,000 as a forgivable loan through O.C.E.A.N., Inc. The NJHMFA DPA provides up to $15,000 as a forgivable loan, and first-generation buyers can add $7,000 through the NJHMFA First Generation Program for up to $22,000 from the state. The NJCC Statewide DPA offers up to $30,000 when funding is available. The Housing Partnership of New Jersey CDFI Homebuyer Loan provides up to $20,000. The NACA program eliminates down payment and closing costs entirely. Combining eligible programs, qualified buyers could access over $50,000 in assistance.

Do I have to be a first-time homebuyer to qualify?+

Most programs require first-time buyer status, meaning you have not owned a home in the past three years. The NJHMFA DPA, First Generation Program, NJCC DPA, and Ocean County First-Time Homebuyer Program all require this. However, the NACA program and the Housing Partnership of New Jersey CDFI Homebuyer Loan do not strictly require first-time buyer status, making them options for repeat buyers.

What is the maximum home price I can pay using these programs?+

The NJHMFA programs set purchase price limits by county that are updated periodically. Check the current NJHMFA fact sheet for the latest Ocean County limits. The Ocean County First-Time Homebuyer Program has income-based eligibility but does not publicly list a specific purchase price cap. The NACA program does not impose a purchase price limit but bases eligibility on your ability to afford the monthly payment.

What homebuyer education is required?+

The NJHMFA DPA and the Ocean County program both require completion of a HUD-approved homebuyer education course. O.C.E.A.N., Inc. offers HUD-certified homebuyer counseling and workshops right in Toms River at (732) 244-5333 ext. 1110. The Affordable Housing Alliance also provides homebuyer education at (732) 389-2958. NACA requires attendance at their own homebuyer workshop.

How does the Ocean County First-Time Homebuyer Program work?+

The Ocean County Consortium First-Time Homebuyer Program provides $15,000 in down payment and closing cost assistance as a deferred loan secured by a second mortgage. The loan is forgiven and canceled after six years of continuous owner-occupancy. You must have a minimum of 3% of the sales price as a down payment, but only 1% needs to come from your own funds. The remaining 2% can come from gift funds or the program itself. The program is administered by O.C.E.A.N., Inc. and funded by HUD through the HOME Investment Partnerships Program.

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