First-Time Buyers · New Jersey Assistance
NJHMFA Down Payment Assistance
New Jersey's largest down payment assistance program gives qualified first-time buyers up to $15,000 toward their down payment and closing costs — a zero-interest, forgivable second loan that you never repay if you stay five years.
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NJHMFA assistance at a glance
Up to $22,000 toward your first home
Figures reflect the NJHMFA Down Payment Assistance and First Generation programs. Amounts are based on county, must be paired with an NJHMFA first mortgage, and are subject to income and purchase-price limits. Confirm current amounts and eligibility with a participating lender.
Why it matters
The biggest lever for NJ first-time buyers
Forgivable, not a loan you repay
Stay in the home five years as your primary residence and the entire second loan is forgiven — zero interest, no monthly payment.
Stacks with your mortgage
Pairs with an NJHMFA first mortgage, including FHA, VA, USDA, and conventional options, to slash your cash to close.
Covers down payment or closing costs
Use the funds where you need them most — often enough to cover most of an FHA 3.5% down payment on a typical NJ starter home.
Extra help for first-generation buyers
If you're the first in your family to own a home, an additional $7,000 may bring your total assistance to about $22,000.
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Eligibility
Who qualifies
- First-time buyer — no homeownership in the past three years (waived for veterans and some targeted areas)
- Household income within NJHMFA limits, which vary by county and household size
- Purchase price within statewide limits, also based on county and family size
- The home must be your primary residence in New Jersey
- Must be paired with an NJHMFA first mortgage and originated through an NJHMFA participating lender
- Completion of a HUD-approved homebuyer education course
Common questions
NJHMFA assistance FAQs
How much down payment assistance can I get?
Up to $15,000 through the standard NJHMFA Down Payment Assistance Program, with the exact amount based on the county where you're buying. First-generation buyers can add a $7,000 First Generation DPA, for up to roughly $22,000 total.
Do I have to pay it back?
Not if you stay. The assistance is a five-year forgivable second loan with zero interest and no monthly payment — live in the home as your primary residence for five years and it's forgiven in full. Selling, refinancing, or moving out before then can trigger repayment.
Can I use NJHMFA assistance with an FHA loan?
Yes — that's the most common pairing. NJHMFA assistance is designed to pair with an NJHMFA first mortgage, including FHA, VA, USDA, and conventional options.
How do I apply?
NJHMFA assistance is originated through an NJHMFA participating lender, alongside your first mortgage, and requires a homebuyer education course. Reach out and we'll point you to the right path.
Our trusted lending partner
Bond Street Mortgage
We work hand-in-hand with Bond Street Mortgage, serving Bergen, Passaic, Morris, Hudson, and Essex counties. Their team coordinates with us from pre-approval through closing.
Talk to the team
See if you qualify for assistance
Reach out and we'll connect you with the right loan path and a pre-approval that holds weight in a competitive market.
RE/MAX Select — Chopper Russo Team. Thomas "Chopper" Russo, 392 Ramapo Valley Rd, Oakland, NJ 07436. Not a commitment to lend. Down payment assistance is administered by the New Jersey Housing and Mortgage Finance Agency through participating lenders; amounts, eligibility, and terms are set by NJHMFA and subject to change.