Bergen County American Dream First-Time Homebuyer Program
How much assistance
Up to $65,000 in HOME funds plus up to $10,000 in CDBG matching down payment assistance (Deferred Loan)
HOME funds ($65,000): 0% deferred second mortgage repaid upon sale, transfer of title, or home no longer primary residence. CDBG funds ($10,000): Forgiven 1/10th per year for 10 years, becoming a full grant after 10 years of homeownership.
Eligibility
- Income limits: Must be within HOME Income Guidelines (low/moderate income). A family of four can earn up to approximately $139,320 (80% AMI for Bergen County).
- First-time buyer required: Yes — Must be a first-time homebuyer or have not owned a home in the previous three years.
- Geographic restrictions: Must purchase a one-family house or condominium in Bergen County, NJ. No multi-family houses or co-ops. Purchase price must not exceed 95% of Bergen County median sales price.
- Homebuyer education required: Yes
How to Apply for Bergen County American Dream First-Time Homebuyer Program
Step 1: Contact the American Dream Program at One Bergen County Plaza, 4th Floor, Hackensack, NJ 07601. Call (201) 336-7206 or email americandream@co.bergen.nj.us. Applicants must complete required housing counseling education classes and then be partnered with an American Dream participating/approved conventional lender.
Notes
One of the most generous county-level programs in NJ. Combines HOME Investment Partnership and CDBG funds for up to $75,000 total. Mortgage must be for the maximum amount the household can afford. Home must be primary residence for residential purposes only.