Ocean County First-Time Homebuyer Program
Funding status: Active
How much assistance
$15,000 (Forgivable Loan)
Deferred loan forgiven after 6 years of owner-occupancy as primary residence.
Eligibility
- Income limits: Low to moderate income households as defined by HUD income limits for Ocean County
- Purchase price limit: $475,000
- First-time buyer required: Yes — Must not have owned a home in the past 3 years
- Geographic restrictions: Must purchase within Ocean County, NJ
- Homebuyer education required: Yes
How to Apply for Ocean County First-Time Homebuyer Program
Step 1: Contact the O.C.E.A.N. Inc. Housing Counseling Department at (732) 244-5333. Must be an Ocean County resident, U.S. citizen or qualified alien, and have a steady employment history. Must provide a down payment of at least 3% of the purchase price with at least 1% from your own funds. Complete HUD-approved homebuyer education.
Notes
Funded through HUD HOME Investment Partnerships Program via the Ocean County Consortium. Reduced bank fees and closing costs. No mortgage points charged. Purchase price cannot exceed $475,000.