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NJHMFA Down Payment Assistance Program

Administered by:
New Jersey Housing and Mortgage Finance Agency
 · State · Forgivable Loan
Funding status: Active

How much assistance

Up to $15,000
Zero-interest, no monthly payments. Forgiven after 5 years of continuous owner-occupancy. Prorated balance due upon sale or refinance within 5 years.

Eligibility

  • Income limits:
    Must not exceed 115% of area median income; up to 140% AMI in targeted areas
  • First-time buyer required: Yes —
    Must not have owned a home in the past 3 years
  • Credit score minimum: 620
  • Geographic restrictions:
    Must purchase a home in New Jersey. Amount varies by county.
  • Homebuyer education required: Yes

How to Apply for NJHMFA Down Payment Assistance Program

Apply through an NJHMFA participating lender at theroadhomenj.com. Must be paired with an NJHMFA first mortgage. Complete HUD-approved homebuyer education within one year of closing.

Notes

Provided as a second mortgage. Amount varies by county — some counties offer up to $15,000, others up to $10,000. Borrower must not have enough liquid assets to close at 80% LTV.

Cities Where This Program Is Available (26 cities across 1 state)

New Jersey (26 cities)

Available Statewide In