Sep-25-2009 DCA & HMFA Welcome Plainfield to 'Live Where You Work' Homebuyer Program
DCA & HMFA Welcome Plainfield to 'Live Where You Work' Homebuyer Program
PLAINFIELD - Plainfield Mayor Sharon Robinson-Briggs today joined New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia at City Hall Library, 515 Watchung Avenue, to announce that Plainfield is the newest member of the Live Where You Work Program. Plainfield is the 21th municipality to partner with the HMFA on this workforce housing initiative.
"Governor Corzine is dedicated to providing New Jersey residents with the affordable workforce housing they need," said HMFA Executive Director Della Vecchia. "Under the Governor's initiative, the HMFA created Live Where You Work in 2008 to assist in this effort and to encourage families to buy homes in the towns where they work."
"I am excited to see the program gaining in popularity," Della Vecchia added. "Mayor Robinson-Briggs and Plainfield should be commended for their commitment to the residents of this city and I believe more municipalities will join the program."
The Live Where You Work Program is a workforce housing initiative that provides low-interest, fixed rate mortgage loans to homebuyers purchasing homes in towns where they are employed. Additional program benefits include down payment and closing cost assistance for the purchase of a home within Smart Growth areas and flexible underwriting criteria for the loan qualification process.
Homes must be located in a municipality that has become a Live Where You Work partner with HMFA, which is an affiliate of the Department of Community Affairs (DCA). The Live Where You Work initiative further enhances Governor Corzine's efforts to revitalize and build sustainable communities that encourage greener environments, access to public transportation and affordable housing opportunities for residents.
As a result of Plainfield's partnership with the HMFA, people working in the city who are interested in buying a home in the community will be able to take advantage of Live Where You Work program incentives.
"We are pleased to partner with the HMFA on this program because it will give people who work in Plainfield a rare opportunity to take advantage of responsible financial incentives to homeownership," said Mayor Robinson-Briggs. "Live Where You Work has proved successful in other towns and I have no doubt it will be successful in Plainfield."
Live Where You Work is administered by the HMFA. Trenton, Jersey City, Woodbridge, Elizabeth, Atlantic City, Rahway, Morristown, Evesham, Neptune Township, Bayonne, Carteret, New Brunswick, Paterson, Glassboro, Orange, Keyport, Newark, Washington Township (Gloucester County), Edgewater Park and Cherry Hill are all taking part in the program.
To learn about how to get a Live Where You Work mortgage, please call 1-800-NJHOUSE. For more information about how municipalities can join Live Where You Work, please call 609-278-7478. Or, you can visit the Live Where You Work website at www.livewhereyouwork.nj.gov.