The NJHMFA state-wide Down Payment Assistance Program (DPA) provides $10,000 for qualified first-time homebuyers to use as down payment and closing cost assistance when purchasing a home in New Jersey. The DPA is an interest-free, five-year forgivable second loan with no monthly payment
To participate in this program, the DPA must be paired with an NJHMFA first mortgage loan. The first mortgage loan is a competitive 30-year, fixed-rate government-insured loan (FHA/VA/USDA), originated through an NJHMFA participating lender. Certain restrictions such as maximum household income and purchase price limits apply. For more information, contact an NJHMFA participating lender below.
Homeward Bound Program
The New Jersey Housing and Mortgage Finance Agency's (NJHMFA) Homeward Bound Mortgage Program provides qualified New Jersey first-time homebuyers with a competitive 30-year, fixed-rate government-insured loan (FHA/VA/USDA) originated through an NJHMFA participating lender.
Do I Qualify for This Program?
Are you a first-time homebuyer?
You're considered a first-time homebuyer if you have not owned a home within the previous three years.
Are you planning to purchase a home in New Jersey?
This program applies to homes to be used as a primary residence in any New Jersey county.
Ready to Get Started?
Fill out our Participating Lenders form to be paired with an NJHMFA lender partner!