Provides no downpayment, no mortgage insurance, mortgage loans at pre-approved new or rehabilitated single-family housing developments and for certain newly constructed units. Downpayment and closing cost assistance may be available under this program. First-time and urban area buyers are eligible for 30-year fixed rate financing at the HMFA's prevailing interest rate. The program is subject to funding and housing availability. Please refer to the One Hundred Percent Project List for available projects in your area.
One Hundred Percent financing is available only when purchasing homes pre-approved by the Agency and listed on the One Hundred Percent Project List. Not-for-profit and for-profit developers can apply for project approval. Please see the latest income and purchase price limits.
Further detail is available on our Fact Sheet or call 1-800-NJ-HOUSE.
