New Jersey Housing and Mortgage Finance Agency (NJHMFA)
NJHMFA offers a First-Time Home Buyer Program and a Homeward Bound first mortgage program. Both programs offer a 30-year fixed-rate mortgage. The mortgage is coupled with a Down Payment Assistance (DPA) program that provides up to $15,000 based upon the county of the property being purchased. The DPA is interest free, requires no payments, and is forgivable after five years and can be used to cover down payment and closing costs. NJHMFA’s programs are offered through its network of approved lenders.
