NJHMFA Down Payment Assistance Program

NJHMFA Down Payment Assistance Program

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, 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.

Do I Qualify for This Program?

  • Are you a first-time homebuyer with a credit score of 620 or greater?
    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?

If you answered YES to the questions above, contact one of NJHMFA’s participating lenders and ask for an NJHMFA First-Time Homebuyer Mortgage Program loan today!

Contact an NJHMFA Participating Lender