See programs you qualify for

Get Matched Free →

NJHMFA First Generation Down Payment Assistance

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

How much assistance

$7,000
Zero-interest, no monthly payments. Forgiven after 5 years of continuous owner-occupancy as primary residence.

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. Must be a first-generation homebuyer (neither the borrower nor their parents/guardians have owned a home).
  • Credit score minimum: 620
  • Geographic restrictions:
    Must purchase a home in New Jersey
  • Homebuyer education required: Yes

How to Apply for NJHMFA First Generation Down Payment Assistance

Apply through an NJHMFA participating lender. Must be used in conjunction with the NJHMFA DPA and an NJHMFA first mortgage. Complete HUD-approved homebuyer education.

Notes

Can be combined with the NJHMFA DPA for total assistance of $17,000 to $22,000 depending on county. Must meet first-generation buyer definition.

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

New Jersey (26 cities)

Available Statewide In